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For the next three years, decommissioning plans in Malaysia include the plugging and abandonment (P&A) of about 130 wells and the abandonment of about 50 facilities. Experience in other parts of the world indicates that wells can make up over 50% of the overall field decommissioning costs.

Decommissioning offshore Oil and Gas installations is an inevitable part of the ‘Life of Field’ activities. It carries a multi-billion $ cost with no commercial return.

Deepwater drilling is typically defined as operating in water depths exceeding 450 feet. To date, 116 Deepwater wells have been drilled thus far in Malaysia. At present, there are more than 6 BBOE (billion barrel of oil equivalent) waiting to be discovered in deepwater Malaysia, with the highest yet-to-find in Sabah, followed by Sarawak. This indicated that there are more opportunities in deepwater to be unlocked.