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ABSTRACT
The study delves into decommissioning practices within the oil and gas industry, with a specific focus on Norway, China, and Nigeria. It examines the guiding principles, financial assurance mechanisms, and challenges encountered in each country. Norway prioritizes the Polluter Pays Principle and utilizes surety bonds, while China shows potential for innovation despite limited experience, and Nigeria mandates the establishment of a Decommissioning and Abandonment Fund. Challenges such as regulatory complexities and high costs are prevalent in Norway, while China faces expertise gaps, and Nigeria grapples with regulatory oversight issues. In summary, Norway's robust regulatory frameworks and financial readiness position it favorably in addressing decommissioning challenges compared to China and Nigeria.
