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Fairfield Energy has become the latest name to scale back its North Sea operations, and plans to shut down production entirely come June

An oil rig in the North Sea. Fairfield Energy has joined other major players such as Shell in decommissioning works on oil operations in the region

Following in the footsteps of Shell, Fairfield Energy has become the second major name to press ahead with decommissioning its North Sea oil operations. North Sea oil production has been on the slide for over 15 years, and slumping oil prices have put further pressure on those working in the world’s most expensive offshore oil basin.

The decommissioning process will cost
around £400m

Fairfield announced production in the Dunlin cluster fields will grind to a halt in June, before it presses on with plans to decommission the Dunlin Alpha platform. “The Dunlin asset has now achieved maximum economic recovery. Taking into account the asset’s lifecycle, the depressed oil price and challenging operational conditions in the North Sea, starting the decommissioning process is the most appropriate action”, said David Peattie, Chief Executive of Fairfield, in a statement for Aberdeen Business News.

“Our investment programme has prolonged the life of Dunlin, leading to a notable contribution to the British economy and the creation of jobs in North Sea oil and gas. We are fully committed to delivering a safe and transparent decommissioning process and will work closely with staff and stakeholders to achieve this.”

The decommissioning process will cost around £400m, according to Fairfield, and closes the final chapter on an oil field that, in 1979, produced as many as 120,000 barrels a day. Over its 37 years in operation (far longer than its predicted 25-year shelf life), the field has produced more than 522 million barrels of oil.

The decommissioning work is expected to take years to complete and feeds into a larger picture of the North Sea oil industry; one in which a growing number of oil and gas companies are reassessing their options and deciding whether now is the time to retreat.