Thousands of offshore facilities are approaching obsolescence and will require to be removed within the next decades. The decommissioning of offshore facilities are unavoidable issues at some point in the future as the platform reach end of their useful production lifetimes. Since the decommissioning project is not a business that generates economic benefits compared to the massive decommissioning cost, it can not easily be undertaken by companies and governments. Also, decommissioning of offshore oil and gas platforms raises many complex issues including regulatory requirements, technical feasibility, health, safety, socio-economic, environmental impacts, economics and strategies.
The first objective of this study is to investigate international and regional regulations and decommissioning procedures in order to strategically develop the rapidly growing offshore decommissioning market. The second is to propose 'rig-to-reef' option and 'offshore aquaculture' option, which are methods to reduce the cost of decommissioning and create economic and environmental benefits by reutilizing the structures. Finally, this study analyzes business feasibility for two reutilization options by conducting a legal, technical and economic assessments of the abandoned offshore platform in Indonesia.