Abandonment costs

{
  "id": "MLC-T-OAG-000001",
  "term": "Abandonment costs",
  "field": "Oil and gas",
  "definition": "The expenses incurred to permanently decommission an oil or gas well or facility at the end of its productive life. These costs include plugging the wellbore, removing surface equipment, restoring the site to its original condition, and environmental remediation. Operators are legally obligated to cover these costs, which are often estimated and provisioned for throughout the asset's lifecycle.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/abandonment-costs/"
}