Global Offshore Decommissioning Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global offshore decommissioning market in its upcoming report titled, “Global Offshore Decommissioning Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global offshore decommissioning market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global offshore decommissioning market report has been segmented on the basis of service, depth, and region.

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Offshore decommissioning is a process of plugging and disposal of equipment used in offshore oil production. Factors considered in offshore decommissioning include age of platform, location and water depth, weather conditions, weight of the lifts and soil strength, and configuration and type of platform. Offshore decommissioning includes removal of decks, subsea pipelines, subsea wells, sank rigs, and damaged offshore platforms. Decommissioned platforms can go for scrap, re-use for functions besides oil and gas production, and for conversion of offshore structures into fish farms.

Increasing number of offshore oil and gas exploration and production (E&P) activities across the globe is a key factor driving growth of the global offshore decommissioning market. In addition, growing demand for fuel, has led to an increase in offshore drilling activities which is another factor expected to boost growth of the global offshore decommissioning market over the forecast period.

However, high costs associated with offshore decommissioning processes is a major factor restraining growth of the global offshore decommissioning market. Additionally, problems associated with offshore decommissioning is another major factor expected to hamper growth of the global offshore decommissioning market over the forecast period.

The market in Europe is expected to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance can be attributed to stringent decommissioning guidelines in countries in the region. The market in North America is expected to account for second-highest share in terms of revenue over the forecast period, owing to increasing number of platforms being decommissioned each year in the region. Moreover, the market in Asia Pacific is expected to register significant growth in the target market over the forecast period, owing to increasing number of oilfields in emerging economies such as China, India, etc. Also, the market in Middle East & Africa is expected to register moderate growth over the forecast period, owing to presence of untapped offshore oil reserves in countries in the region.

Global offshore decommissioning market segmentation:

By Service:

• Well plugging and abandonment
• Project management, engineering and planning
• Permitting and regulatory Compliance
• Platform preparation
• Conductor removal
• Mobilization and demobilization of derrick barges
• Others

By Depth:

• Shallow water
• Deepwater

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Amec Foster Wheeler plc
• TechnipFMC plc
• Ramboll Group A/S
• John Wood Group PLC
• AF Gruppen ASA
• TETRA Technologies, Inc.
• Stiftelsen Det Norske Veritas
• Heerema Marine Contractors Nederland SE
• Petrofac Limited
• Aker Solutions ASA