NEW YORK, March 16, 2020 /PRNewswire/ --
Report Scope:
The scope of this report is focused on the offshore decommissioning market and the key areas in the field that drive industry growth and allow companies to succeed.Areas include operator project management, post-cessation of production (CoP) OPEX, well decommissioning (plugging and abandonment), facility de-energizing, topside preparation, topside removal, jacket removal, topside and substructure onshore recycling, subsea infrastructure, site remediation and post-decommissioning monitoring.
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The study also explores industry structure, noting strategic alliances and acquisitions along with pertinent information regarding upcoming, ongoing decommissioning projects.
Report Includes:
- 43 data tables and 41 additional tables
- An overview of global market for offshore decommissioning
- Analyses of the global market trends, with data from 2018 to 2024 with projection of CAGR during 2019 to 2024
- A look at the recent market trends, opportunities, challenges and government rules and regulations affecting market
- Coverage of events like mergers and acquisitions, competition trends, market share analysis and a relevant patent analysis
- Briefing about possible innovations in the offshore decommissioning sector which may reduce costs and environmental impact in the near future
- Comprehensive company profiles of major market players, including Able U.K. Ltd., Bureau Veritas Group, Fairfield Energy, Maersk Decom, Petrofac Ltd., and Technip FMC
Summary
The global market for offshore decommissioning was worth approximately $REDACTED billion in 2018 and is forecast to grow at a compound annual growth rate (CAGR) of REDACTED during the five-year period from2019-2024.
The global offshore decommissioning market is dominated by the European North Sea region.The North Sea region accounted for half of the market for offshore decommissioning in 2018.
However, this share is expected to decline as the market grows in other regions.
2,379 wells in the North Sea are waiting to be decommissioned by 2027. REDACTED of these mature assets are located in U.K. waters. The Gulf of Mexico in the North American region has also been a dominant market for offshore decommissioning, but its share is expected to decline to REDACTED of the total market by 2024. It is estimated that in the next 20 years, more than 3,700 structures will need decommissioning inSoutheast Asia, West Africa, Latin America and the Persian Gulf. Because of this, the Rest of theWorldmarket segment will be the fastest growing decommissioning market over the next five years.
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