Global Offshore Decommissioning Market : Tetra Technologies, Heerema Marine Contractors, Petrofac, Claxton Engineering Services, Aker Solutions, Allseas, Deepocean Group Holding, Operator Profiles And more…

Offshore Decommissioning Market Worldwide

Decommissioning is a part of the offshore oil and gas life cycle. It refers to the safe abandonment of production facilities (and associated infrastructure) that are no longer operational. It includes 10 steps process like project management, engineering, and planning; permitting and regulatory compliance; platform preparation; well plugging and abandonment; conductor removal; mobilization and demobilization of derrick barges; platform removal; pipeline and power cable decommissioning; materials disposal; and site clearance. In simple terms, it is the process of ending offshore oil and gas process at an offshore platform and returning the ocean and seafloor to its pre-lease condition.

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The offshore decommissioning market is growing considerably at a CAGR of nearly 5% throughout the forecast period. The market is driven by several factors such as an increase in a number of ageing offshore oil and gas platforms with many of them operating beyond their lifespan. Additionally, sustained low oil price environment, environmental concerns, and increasingly stringent decommissioning regulations are the key factors supporting the growth of the offshore decommissioning market across the globe.

Europe was the largest market in 2016, backed by extensive activities in the U.K and Norway. The U.K. offshore industry leads the market in terms of well-developed and mandatory decommissioning guidelines. Stringent government regulations in this region providing expertise, policy support, and financial incentives for the better working of decommissioning drives the market. The winding of major oilfields and excellent regulatory framework is ensuring the high pace of offshore decommissioning market in this region. Furthermore, the Oil and Gas Authority, in U.K., is expected to invest approximately USD 71 billion for safe decommissioning in the coming years.

By Top Companies :

Amec Foster Wheeler
Technipfmc
Ramboll
John Wood Group
Tetra Technologies
Heerema Marine Contractors
Petrofac
Claxton Engineering Services
Aker Solutions
Allseas
Deepocean Group Holding
Operator Profiles
And more...

By Type :

Well Plugging & Abandonment
Platform Remova
Others.

By Application :

Shallow
Deepwater
Other .

The report also provides the regional level of the Offshore Decommissioning market analysis and future outlook for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

North America is projected to be the second largest market due to the growing agitation of mature oilfields in the Gulf of Mexico having a large number of decommissioning platforms, growing every year. On the other hand, Asia Pacific is anticipated to have significant growth with the maximum growth coming from Indonesia and Malaysia. The countries are expected to enhance their potential for the offshore decommissioning market over the forecast period.

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Oil and gas is a highly regulated industry that operates under stringent safety, health, environmental and well integrity global regulations. Companies that undertake oil and gas facility and infrastructure decommissioning need mandate government approvals before commencing offshore activities.

Most of the players operating in this Offshore Decommissioning market are making efforts to grow their market footprint, by focusing on product diversification and development, subsequently making them acquire a larger share of the market. Development in different countries to drive growth and increase product sales is also considered as one of the major strategies undertaken by the key players operating in the global Offshore Decommissioning market. This is primarily because of the untapped potentials present in the developing nations, in terms of product pricing and revenue generation.

Key Reasons to Purchase:

A) Current and future of Offshore Decommissioning market outlook in the developed and emerging markets.
B) Analysis of various perspectives of the market with the help of Porter’s five forces analysis.
C) The segment that is expected to dominate the Offshore Decommissioning market.
D) Regions that are expected to witness the fastest growth during the forecast period.
E) Identify the latest developments, Offshore Decommissioning market shares, and strategies employed by the major market players.

Some of key Tables and Figures included in this research study : https://www.reportsmonitor.com/report/133809/Offshore-Decommissioning-Market  

All aspects of the Offshore Decommissioning industry report are quantitatively as well as qualitatively assessed to study the global as well as regional market comparatively. The basic information such as the definition, prevalent chain and the government regulations pertaining to the Offshore Decommissioning market are also discussed in the report.

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