Press release
Offshore Decommissioning Market Key Findings, Growth Strategy, Service, Structure, Industry Share, Future Scope and Forecast by 2029 | Key Players - Heerema Marine Contractors, Royal Boskalis Westminster N.V., Petrofac,
Based on previous market performance, the Offshore Decommissioning market is expected to reach USD 8.30 billion in size by 2028. With a 7.6% CAGR.Offshore Decommissioning Market Overview:
The goal of offshore decommissioning is to permanently shut off a well from any hydrocarbon or water escape or cross-flow into neighboring formations, as well as to clean the seabed and water column of offshore infrastructure. Decommissioning is a relatively new industry, but it is expected to grow at the quickest rate in the next years.
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In the years ahead, demand in the worldwide offshore decommissioning industry is likely to reach new heights. The expansion of this market is due to advancements in the maritime industry. Market expansion has also been encouraged by the use of offshore decommissioning to ensure stable and controlled marine traffic.
Based on our expert's analysis the players that are leading the market includes: Heerema Marine Contractors, Royal Boskalis Westminster N.V., Petrofac, Oceaneering International, Baker Hughes Company, Halliburton, and Schlumberger. and Others.
The whole market is segmented as follows:
Offshore Decommissioning Market by Service Type, 2019-2028, (In USD Million)
Well Plugging & Abandonment
Platform Removal
Conductor Removal
Offshore Decommissioning Market by Depth, 2019-2028, (In USD Million)
Shallow Water
Deep Water
Offshore Decommissioning Market by Structure, 2019-2028, (In USD Million)
Topside
Substructure
Offshore Decommissioning Market by Removal, 2019-2028, (In USD Million)
Leave In Place
Partial
Complete
Industry Developments:
GSP offshore was awarded a decommissioning contract from OMV Petrom in May 2019, with a contract value of roughly £4.5 million. Gloria's offshore platform has reached the end of its economic life cycle after more than 40 years of service.
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Offshore Decommissioning Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Offshore Decommissioning Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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