North Sea clean-up could cost the UK billions

Analysts predict that decommissioning the oil fields in the UK North Sea shelf will end up a costly affair for the Brits.

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The clean-up, or "decommissioning", of British oil ventures in the North Sea will likely end up costing the UK government more than originally anticipated, writes the Financial Times.

Beginning this year and stretching out over the next 40 years, oil companies on the British shelf will spend millions dismantling drilling platforms and pipelines. The bill left behind by oil companies could rack up to approximately GBP 53 billion, of which a fifth will be spent over the next five years, shows a new report from consultancy firm Wood Mackenzie.

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