Offshore Decommissioning Market Leading Key Players: Tetra Technologies, Inc., BP P.L.C. , Statoil ASA , DNV GL , TechnipFMC PLC , AF Gruppen ASA

Offshore Decommissioning Market Overview:-

Worldwide Oil and Gas challenges are prompting to take innovative approaches towards reusing obsolete offshore oil platforms. Dipping prices of oil and gas and corresponding cuts in expenditure is driving investigation into alternate, cheaper approaches to decommissioning that also use the assets as economically as possible. This indicates hundreds of new opportunities requiring novel expertise in the next six years. Which also further defines the enormous expenditure sanctioned for decommissioning projects in countries with assets in the North Sea in the UK region during 2017-2023. The UK being the country with the most offshore infrastructure, is expected to account for approximately 60% of this funds.

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Industry/ Innovation/ Related News:

December 14, 2017 – Oil & Gas Technology Centre (OGTC) – Aberdeen launched two calls for ideas relating to digital and decommissioning, with £2 million($2.69m) available to successful applicants. The OGTC says that machine learning techniques could help extend the life of oil and gas fields, while new power and utilities solutions could reduce decommissioning costs.

December 12, 2017 – Hunterston Port and Resource Centre (PARC) in Ayrshire (UK) announced that it has been awarded grant funding from the Scottish Government that could help it become one of the UK’s most significant oil and gas decommissioning facilities. Peel Ports, which owns and operates Hunterston PARC, has accepted a grant offer of £240,000 under the Decommissioning Challenge Fund. The total investment of nearly half a million pounds will be used to design new gates at Hunterston’s dry dock and to carry out preliminary work on securing the necessary construction approvals.

Offshore Decommissioning Global Market Top Key Players:-

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

Major Points From TOC:-

1 Executive Summary
2 Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis

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6 Global Offshore Decommissioning Market, By Type
6.1 Overview 42
6.1.1 Topside 44
6.1.2 Substructure 44
6.1.3 Sub Infrastructure 45

7 Global Offshore Decommissioning Market, By Service Type
7.1 Overview 47
7.1.1 Well Plugging And Abandonment 49
7.1.2 Conductor Removal 49
7.1.3 Platform Removal 49
7.1.4 Others 50

8 Global Offshore Decommissioning Market, By Application
8.1 Overview 52
8.1.1 Shallow Water 54
8.1.2 Deepwater 54
Continued......

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Regional Analysis:

Europe accounts for the most significant share of 70 % regarding global offshore decommissioning market value in 2016, based on the size and volume of the structures, especially in the North Sea. Europe is followed by the North America region led by Mexico owing to the aging platforms most of which are more than 30 years old. The Gulf of Mexico accounts for the most substantial number of facilities requiring decommission with a lower cost structure between USD 0.5 million to 4 million for shallow water structures. The Gulf of Mexico has historically been the most significant region regarding the volume of platforms decommissioned, which is around 4,000. North America offshore decommissioning market was valued at USD 877.1 million in 2016 and which is expected to grow to USD 1,383.3 million by 2023, at a CAGR of 6.83 %.

Asia-Pacific accounted for a market share of 8.83% in 2016 and is expected to grow at a CAGR of 3.41% during the forecast period. The Middle East and Africa region is supposed to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar. The presence of large onshore oil and gas deposits in the Middle East and Africa hampers offshore oil exploration and thus accounts for the disproportionately small size of the market as compared to its petroleum production.

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