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 ... Read more
Offshore Decommissioning towards end of life production is essential for protecting and damage controlling of the marine ecosystem. By controlling deterioration of metal equipments and eradicating chances of harmful substances getting released in the atmosphere; this process not only saves the environment but also saves billions of dollars of tax paid by the operating companies. Moreover timely Offshore Decommissioning ... Read more
The offshore decommissioning market is projected to reach USD 8.76 billion by 2025, growing at a CAGR of 5.05%, from 2017 to 2025. Europe is estimated to be the largest market for offshore decommissioning, followed closely by North America. The European market is also projected to be the fastest growing market during the forecast period. The growth of the offshore decommissioning ... Read more
The global offshore decommissioning market is projected to grow at a CAGR of 5.05%, from 2017 to 2025, to reach a market size of USD 8.76 billion by 2022. Offshore decommissioning is plugging the oil and gas wells which are matured and are non-productive. Maturing oil and gas fields and aging infrastructure in the North Sea and Gulf of Mexico are driving the offshore decommissioning ... Read more
The offshore decommissioning market is estimated to be valued at US$ 7.07 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The offshore decommissioning market consists of removal and disposal of offshore oil and gas infrastructure on production facilities, pipelines and other subsea structures located in offshore ... Read more
