Offshore Decommissioning Market: New Business Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2023

Market Highlights

Low oil prices are negatively affecting the activities in many sectors of oil & gas industry, but decommissioning activity is set to increase in the environment of low oil prices due to the obsoletion of uneconomic platforms. Before the oil prices started falling, the global decommissioning market had been set for gradual growth. Further, ageing offshore infrastructure and increasingly stringent regulations drive investment, particularly in the two primary markets of the Gulf of Mexico and the North Sea.

 

Topside market is expected to grow at the highest rate.

Topside accounted for the largest market share of 55.65% in 2016, with a market value of USD 1,804.6 million and is projected to grow at the highest CAGR of 9.94% during the forecast period. Substructure was the second-largest market in 2016, valued at USD 806.8 million in 2016; it is projected to grow at a CAGR of 3.58%.

 

Global Offshore Decommissioning Market is predicted to grow at approximately 6.93% by 2023

 

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Key Players:

The major players operating in this market, who have adopted these strategies are

  • Tetra Technologies, Inc., (U.S.),
  • BP P.L.C. (U.K.),
  • Statoil ASA (Norway),
  • DNV GL (Norway),
  • TechnipFMC PLC (U.K.),
  • AF Gruppen ASA (Norway),
  • Ramboll Group A/S (Denmark),
  • Aker Solutions ASA (Norway),
  • Amec Foster Wheeler (U.K.),
  • John Wood Group Plc. (Scotland),
  • Claxton Engineering Services (U.K.),
  • Allseas group SA (Switzerland)
  • DeepOcean Group (Netherlands).

 

The offshore decommissioning market major is driven by the ageing offshore oil and gas infrastructure and the maturing oil fields. With the low prices of the oil, the maintenance of low production mature reserves is becoming more difficult. This in turn is driving the companies to accelerate their decommissioning activities for such oil and gas projects. The market is also driven by the strict rules and regulations and the stringent legal framework in all regions across the world.

 

Shallow Water segment is dominating the global offshore decommissioning market by application

The market has been segmented by applications, as shallow water and deep water. The applications of the offshore decommissioning in shallow water is expected to dominate the growth of the market. The offshore decommissioning in shallow water is less expensive as compared to deep water offshore decommissioning while the majority of the old and ageing offshore installations are in shallow waters.

 

Scope of the Report

This study provides an overview of the global offshore decommissioning market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global offshore decommissioning market by its service type, application and region.

  • By Service Type
  • Well Plugging and Abandonment
  • Conductor Removal
  • Platform Removal
  • Others
  • By Application
  • Shallow Water
  • Deep Water Areas
  • By Region
  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

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List of Tables

Table 1 Market Synopsis 13
Table 2 Uk Offshore Decommissioning Spending For 2015 39
Table 3 Global Offshore Decommissioning Market, By Type, 2015-2023 (Usd Million) 43
Table 4 Global Offshore Decommissioning Market, By Service Type, 2015-2023 (Usd Million)
Table 5 Global Offshore Decommissioning Market, By Application, 2015-2023 (Usd Million) 53
Table 6 Global Offshore Decommissioning Market, By Region, 2016-2023 (Usd Million) 57
Table 7 Europe: Global Offshore Decommissioning Market, By Country, 2016-2023
Table 8 Europe: Global Offshore Decommissioning Market, By Type, 2016-2023 (Usd Million)
Table 9 Europe: Global Offshore Decommissioning Market, By Application, 2016-2023
Table 10 Europe: Global Offshore Decommissioning Market, By Service Type, 2016-2023

Continue………

 

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