Home > Term: abandonment costs
abandonment costs
The costs associated with abandoning a well or production facility. Such costs are specified in the authority for expenditure (AFE), and typically cover the plugging of wells; removal of well equipment, production tanks and associated installations; and surface remediation.
- Part of Speech: noun
- Industry/Domain: Oil & gas
- Category: Oilfield
- Company: Schlumberger
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Creator
- BSchmidt
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