Identifying potential impacts of bonding instruments on offshore oil projects

Ferreira, David; Suslick, Saul B.

doi:10.1016/s0301-4207(01)00007-1

Cited by 21 publications

(18 citation statements)

References 11 publications

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“…Offshore oil and gas platforms play an ecological role for a wide variety of marine life, from corals and sponges (Gass and Roberts, 2006;Friedlander et al, 2014), to fish and sharks (Dugas et al, 1979;Schroeder and Love, 2002;Pradella et al, 2014), to marine megafauna (Robinson et al, 2013;Todd et al, 2016). At the end of their productive life, these platforms are generally removed completely and disposed of onshore, effectively removing the hard substrate and associated marine growth from an ecosystem that has developed over upward of 30-40 years (Driessen, 1986;Ferreira and Suslick, 2001). There is strong opposition to offshore drilling, and the negative perceptions of oil companies and their intentions is a big obstacle in the path of Rigs-to-Reefs programs (Löfstedt and Renn, 1997;Pietri et al, 2011).…”

Section: Resultsmentioning

confidence: 99%

Offshore Oil and Gas Platforms as Novel Ecosystems: A Global Perspective

et al. 2019

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Offshore oil and gas platforms are found on continental shelves throughout the world's oceans. Over the course of their decades-long lifespans , these platforms become ecologically important artificial reefs, supporting a variety of marine life. When offshore platforms are no longer active they are decommissioned, which usually requires the removal of the entire platform from the marine environment, destroying the artificial reef that has been created and potentially resulting in the loss of important ecosystem services. While some countries allow for these platforms to be converted into artificial reefs under Rigs-to-Reefs programs, they face significant resistance from various stakeholders. The presence of offshore platforms and the associated marine life alters the ecosystem from that which existed prior to the installation of the platform, and there may be factors which make restoration of the ecosystem unfeasible or even detrimental to the environment. In these cases, a novel ecosystem has emerged with potentially significant ecological value. In restoration ecology, ecosystems altered in this way can be classified and managed using the novel ecosystems concept, which recognizes the value of the new ecosystem functions and services and allows for the ecosystem to be managed in its novel state, instead of being restored. Offshore platforms can be assessed under the novel ecosystems concept using existing decommissioning decision analysis models as a base. With thousands of platforms to be decommissioned around the world in coming decades, the novel ecosystems concept provides a mechanism for recognizing the ecological role played by offshore platforms.

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Section: Resultsmentioning

confidence: 99%

Offshore Oil and Gas Platforms as Novel Ecosystems: A Global Perspective

et al. 2019

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“…Lúc này, nhà thầu không có thêm doanh thu từ việc khai thác, do vậy cần phải có các cơ chế bảo đảm để nhà thầu có đủ năng lực tài chính thực hiện công tác này [2,3]. Trên thế giới, có rất nhiều trường hợp đóng mỏ sớm hoặc không có kế hoạch đã xảy ra [4] và việc đảm bảo tài chính là đặc biệt cần thiết [5,6]. Vì vậy, đối với cơ quan quản lý, việc lựa chọn cơ chế bảo đảm tài chính để chắc chắn công tác phục hồi môi trường hoặc thu dọn mỏ được thực hiện đầy đủ là rất quan trọng.…”

Section: Giới Thiệuunclassified

So sánh các cơ chế bảo đảm tài chính cho công tác thu dọn mỏ dầu khí ngoài khơi và phục hồi môi trường mỏ khoáng sản

Huyen¹

2020

PVJ

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Luật Dầu khí (2018) quy định trong quá trình tiến hành hoạt động dầu khí, sau khi kết thúc từng công đoạn hoặc từng giai đoạn hoặc kết thúc hợp đồng dầu khí, tổ chức, cá nhân tiến hành hoạt động dầu khí phải thu dọn các công trình cố định, thiết bị và phương tiện phục vụ hoạt động dầu khí không còn sử dụng và phục hồi môi trường theo quy định của pháp luật [1]. Bài báo so sánh 4 cơ chế đảm bảo tài chính cho công tác thu dọn mỏ dầu khí ngoài khơi và phục hồi môi trường, gồm: trái phiếu bảo đảm; trái phiếu bảo đảm bằng tiền mặt; dự phòng thu dọn và hủy mỏ; tài khoản hủy mỏ cho 1 hợp đồng dầu khí cụ thể. Trên cơ sở đó, tác giả đề xuất cơ chế đảm bảo tài chính cho hoạt động thu dọn mỏ dầu khí ngoài khơi Việt Nam, đảm bảo sự tuân thủ của nhà thầu/công ty mỏ mà không giảm thu hút đầu tư.

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“…Assurance or performance bonds are economic instruments commonly used in environmental management (Shogren et al, 1993;Cornwell and Costanza, 1994;Ferreira and Suslick, 2001;Bagstad et al, 2007). The aim of the bond is to ensure that the worst case cost of any damage that remains once an activity has been completed is covered (Perrings, 1989;Costanza and Perrings, 1990).…”

Section: Assurance Bonds and Insurancementioning

confidence: 99%

“…Similarly, offshore renewable energy installations in the US require a bond to ensure that decommissioning requirements are satisfactorily met after the facilities (e.g., pipelines, cables, and other structures and obstructions) are no longer required (Hill, 2011;Kaiser and Snyder, 2012). Comparable arrangements are also in place in most other countries for offshore energy developments, particularly in relation to appropriate decommissioning of offshore oil and gas facilities (Ferreira and Suslick, 2001). Pascoe et al (2010) outlined how bonds could be applied to manage fisheries interactions in the marine environment, with the bond returned provided fishers achieved a pre-determined performance target in terms of bycatch rates or avoidance of habitat impacts.…”

Section: Assurance Bonds and Insurancementioning

confidence: 99%

Mitigating undesirable impacts in the marine environment: a review of market-based management measures

et al. 2015

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Internationally, marine biodiversity conservation objectives are having an increasing influence on the management of commercial fisheries. While this is largely being implemented through Marine Protected Areas (MPAs) other management measures, such as market based instruments (MBIs), have proved to be effective at managing target species catch in fisheries and reducing environmental impacts in industries such as mining and tourism. Market-based management measures aim to mitigate the impacts of activities by better aligning the incentives their participants face with the objectives of management, changing their behavior as a consequence. In this paper, we review the potential of MBIs as management tools to mitigate undesirable environmental impacts associated with commercial fishing. Where they exist, examples of previous applications are described and the factors that influence their applicability and effectiveness are discussed. Several fishing methods and impacts are considered and suggest that whilst no single approach is most appropriate in all circumstances either replacing or complementing existing management arrangements with MBIs has the potential to improve environmental performance. This has a number of implications. From the environmental perspective they should enable levels of undesirable impacts such as damage to sensitive habitat or the bycatch of protected species of turtles, marine mammals, and seabirds to be reduced. The increased flexibility MBIs allow industry when developing solutions also has the potential to reduce costs to both the industry and managers, improving the cost-effectiveness of regulation as a result. Further, in the increasingly relevant case of MPAs the need for publicly funded compensation, often paid to industry when vessels are excluded from grounds, may also be significantly reduced if improved environmental performance makes it possible for some industry members to continue operating.

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Identifying potential impacts of bonding instruments on offshore oil projects

Cited by 21 publications

References 11 publications

Offshore Oil and Gas Platforms as Novel Ecosystems: A Global Perspective

Offshore Oil and Gas Platforms as Novel Ecosystems: A Global Perspective

So sánh các cơ chế bảo đảm tài chính cho công tác thu dọn mỏ dầu khí ngoài khơi và phục hồi môi trường mỏ khoáng sản

Mitigating undesirable impacts in the marine environment: a review of market-based management measures

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