Where is the industry heading?
During the 19th century the oil and gas industry really began to expand with the refinement of paraffin from crude oil to be used as a fuel source. Since then oil and gas has become the main source of fuel worldwide and a main contributor to climate change with the production of carbon dioxide as it is burnt. As a result of this there has been significant investment into renewable energy sources within recent years with an aim to reduce/remove our reliance on fossil fuels. The oil and gas era is coming to an end and the infrastructure in place to collect the fossil fuel sources will need to be removed in accordance with their planning agreements. The decommissioning of oil and gas sub-sea infrastructure is expected to cost £15 billion over the next 10 years.