Australia-registered startup Legacy Global Green Energy (LGGE) has announced to target the repurposing of abandoned oil and gas rigs in the UK North Sea as infrastructure for geothermal energy.
The company has plans to open offices in Aberdeen/ Scotland and London/ England. There are huge liabilities by former operators of those platforms and repurposing would help save these decommissioning liabilities.
There is hope that with the utilisation of those oil platforms, that there is a viable alternative to energy production on land.
According to the article, there are 470 offshore platforms in the North Sea by the UK and a potential dismanteling cost of around $64 billion. The potential tapping of geothermal resources under the seabed could then help position Aberdeen in Scotland at the center of a new industry evolving.
The cost for decommissioning of each platform is estimated of $100-500 million each, which could land on the tax payer.
Source: Energy Voice