Wales Set to Lead the World in Oil and Gas Decommissioning Market


A local centre of excellence for the global oil and gas decommissioning market worth an estimated $80bn over the next ten years is set to open in South Wales, creating up to 350 jobs in the short term and thousands within the supply chain over the coming years.

Dragon Decommissioning-Cymru is a company co-founded by Welshman Neil Pugsley and George Irvine who is originally from the Shetland isles.

The pair intend To Revive the industrial heartland of Wales by creating a local centre of excellence for the global oil and gas decommissioning market”

Dragon Decommissioning-Cymru have entered into agreements with local ports, which are capable of berthing an FPSO and other marine vessels, and have engaged with local steel mills, waste management companies who have the capacity and capability to recycle all waste from any oil and gas or other marine or renewable dismantling activity.

The innovative firm has developed a unique business model focussing on transparency and traceability to provide real time assurance and traceability to the Operators and support the circular economy.

Dragon Decommissioning-Cymru will focus on remove, reclaim, recycle, reuse, refurbish, recertify and resale (“7Rs”) to create a new local supply chain and support the circular economy and local industrial regeneration, reusing all recovered materials locally in Wales. The company has  engaged with a well-known international subsea contractor who will focus on the refurbishment, recertification and resale of subsea equipment.

Dragon Decommissioning-Cymru business model is differentiated from competitors by the approach on local reuse and traceability rather than export abroad, with additional cost, carbon footprint and loss of traceability.

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