Offshore Decommissioning Market - Global Industry Analysis

Offshore Decommissioning Market by Process (Project Management, Permitting & Regulatory Compliance, Platform Preparation, Well Plugging & Abandonment, Conductor Removal, Mobilization/Demobilization & Platform Removal) by Service (Modelling & Sampling, Waste Mapping & Handling, Weight Estimation, Site Inspection, Others) by Depth (Shallow, Deepwater) by Structure (Topsides, Substructure, Subsea Infrastructure): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Published Date: 03-Mar-2021 Category: Energy & Mining Report Format : PDF Pages: 110 Report Code: ZMR-5891 Status : Published

The offshore decommissioning market is set for a rapid growth over the forecast period. In terms of revenue, the global offshore decommissioning market accounted for USD 5.98 Billion in 2019 and is expected to reach USD 8.91 Billion by 2026, growing at a CAGR of 5.86%.

Description

The offshore decommissioning market is set for a rapid growth over the forecast period. In terms of revenue, the global offshore decommissioning market accounted for USD 5.98 Billion in 2019 and is expected to reach USD 8.91 Billion by 2026, growing at a CAGR of 5.86%.

Global Offshore Decommissioning Market: Overview

Decommissioning is the method of putting an end to offshore oil and gas activities on the offshore platform and restoring the ocean and sea floor to its pre-lease status. The Outer Continental Shelf Lands Act (OCSLA) and the implementing regulations set out the decommissioning responsibilities that an operator must fulfil when signing an offshore lease under the OCSLA, including the need to apply for and receive a licence for the subsequent removal of platforms. In Outer Continental Shelf (OCS) leases, the operator is expected to clear seafloor obstacles, like offshore platforms, before the end of the specified lease term, if the Department of the Interior (DOI) or the operator finds the structure dangerous, redundant, or no longer operational.

The OCSLA regulatory and lease standards for decommissioning offshore platforms are intended to reduce the safety and environmental risks associated with leaving abandoned facilities in the ocean, as well as disputes with other Federal OCS users (i.e., military activities, commercial fishing/aquaculture, oil and gas/renewable energy operations, transportation industry, others.)

The common step in decommissioning an offshore platform includes engineering, and planning, project management, permitting and regulatory compliance, well plugging and abandonment, platform preparation, conductor removal, platform removal, mobilization/demobilization of derrick barges, materials disposal, power cable and pipeline decommissioning, and site clearance.

Operators must apply for approval of the platform removal technique before removing the platform, according to OCSLA regulations controlled by the Bureau of Safety and Environmental Compliance (BSEE). For each removal application, the Bureau of Ocean Energy Management (BOEM) conducts a site-specific environmental review on behalf of BSEE to meet National Environmental Policy Act requirements. As a condition of permit approval, BSEE guarantees that the evaluation is satisfactory and imposes any appropriate protective mitigation measures.

Global Offshore Decommissioning Market: Growth Factors

Strengthened and obligatory legal standards for offshore oil and gas operations defined by regulatory authorities of respective regions are a significant driver for the offshore decommissioning industry. Another factor driving the offshore decommissioning market is the presence of ageing oil reserves and neglected wells in matured offshore oil fields across the globe. Chemical spills or leaks from these abandoned oil and gas wells pose a major risk of ocean water contamination, endangering the marine environment. This complicates the removal and rehabilitation of an oil spill, as well as the decommissioning of the well following such incident. Decommissioning such damaged oil wells or platforms increases costs. This raises a variety of technological difficulties. Another factor driving the global offshore decommissioning market is the discovery and growth of new offshores oil reserves, specifically in deep water areas worldwide. New offshore oil discoveries, such as the Liza field in Guyana, the Tupi offshore oil field in Brazil, and the Offshore Kutch basin in India, refer to future oil production potential in these offshore fields, which would likely demand decommissioning services after abandonment.

Global Offshore Decommissioning Market: Segmentation

Engineering and planning, and project managements for offshore decommissioning usually starts three years before the well runs dry. The procedure entails analysis of contractual obligations, engineering and operational planning, and contracting.

Obtaining a licence to decommission an offshore rig might take up to three years to finish. Operators also employ local consulting firms to verify that all licenses are in order before decommissioning, so they are familiar with the regulatory system of their regions.

Plugging and abandonment is one of the main costs of the decommissioning process and can be segmented into two stages. The well plugging planning phase involves data collection, preliminary review, evaluation of abandonment methods and submission of a Bureau of Ocean Energy Management, Regulation, and Enforcement (BOEMRE) approval application.

Global Offshore Decommissioning Market: Regional Analysis

By Geography, the offshore decommissioning market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

North America is projected to be a big part of this market given the presence of offshore oil reserves in the Gulf of Mexico. Europe is also expected to make a major contribution to the offshore decommissioning market, as its offshore oilfields in the North Sea are ageing. Latin America has large offshore oil reserves that are proved undeveloped in countries like Brazil, Guyana, and Venezuela. The region is also expected to be a promising place for offshore decommissioning in the coming years. Middle East & Africa has a significant amount of fossil fuel wealth; therefore, the region is projected to be a key contributor to the decommissioning market.

In Asia Pacific, Malaysia, Thailand, and Indonesia are hosting mature shallow water operations and are predicted to be key drivers for the growth of the offshore decommissioning market in the region. Supply chain issues and lack of technical knowledge will impede the rapid monitoring of decommissioning operations. The market is thus expected to grow at a steady pace over the forecast period.

Global Offshore Decommissioning Market: Competitive Players

The major players in the global offshore decommissioning market include Petrofac Limited, John Wood Group PLC, Tetra Technologies, Inc., TechnipFMC plc., Aker Solutions, Ramboll Group, Heerema Marine, Amec Foster Wheeler PLC., DeepOcean Group Holding BV., AF Gruppen, Claxton Engineering Services, Ltd., Allseas Group S.A., and DNV GL among others.

The report segment of global offshore decommissioning market are as follows:

Global Offshore Decommissioning Market: Process Segment Analysis

  • Project Management
  • Permitting & Regulatory Compliance
  • Platform Preparation
  • Well Plugging & Abandonment
  • Conductor Removal
  • Mobilization/Demobilization & Platform Removal

Global Offshore Decommissioning Market: Service Segment Analysis

  • Modelling & Sampling
  • Waste Mapping & Handling
  • Weight Estimation
  • Site Inspection
  • Others

Global Offshore Decommissioning Market: Depth Segment Analysis

  • Shallow
  • Deepwater

Global Offshore Decommissioning Market: Structure Segment Analysis

  • Topsides
  • Substructure
  • Subsea Infrastructure

Global Offshore Decommissioning Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodulogy
      • 1.3.3. Level 1: Primary Research
      • 1.3.4. Level 2: Secondary Research
      • 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report Description and Scope
  • Chapter 2. Executive Summary
    • 2.1. Global Offshore Decommissioning Market, 2016-2026, (USD Billion)
    • 2.2. Offshore Decommissioning Market: Market snapshot
  • Chapter 3. Global Offshore Decommissioning Market – Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Service landscape
    • 3.4. Market Drivers
      • 3.4.1. North America
      • 3.4.2. Europe
      • 3.4.3. Asia Pacific
      • 3.4.4. Latin America
      • 3.4.5. MEA
    • 3.5. Restraints
    • 3.6. Opportunity
    • 3.7. Innovation & sustainability
    • 3.8. Regulatory landscape
    • 3.9. Porter’s Five Forces Analysis
    • 3.10. PESTLE Analysis
    • 3.11. Offshore Decommissioning Market: Market Attractiveness Analysis
      • 3.11.1. Market Attractiveness Analysis by Process Segment
      • 3.11.2. Market Attractiveness Analysis by Service Segment
      • 3.11.3. Market Attractiveness Analysis by Depth Segment
      • 3.11.4. Market Attractiveness Analysis by Structure Segment
  • Chapter 4. Global Offshore Decommissioning Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2019
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions and Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Cullaborations and Joint Ventures
      • 4.2.4. Research & Development and Regional Expansion
  • Chapter 5. Offshore Decommissioning Market – Process Segment Analysis
    • 5.1. Global Offshore Decommissioning Market Revenue Share, by Process, 2019 & 2026 (USD Billion)
    • 5.2. Global Offshore Decommissioning Market by Project Management, 2016 – 2026 (USD Billion)
    • 5.3. Global Offshore Decommissioning Market by Permitting & Regulatory Compliance, 2016 – 2026 (USD Billion)
    • 5.4. Global Offshore Decommissioning Market by Platform Preparation, 2016 – 2026 (USD Billion)
    • 5.5. Global Offshore Decommissioning Market by Well Plugging & Abandonment, 2016 – 2026 (USD Billion)
    • 5.6. Global Offshore Decommissioning Market by Conductor Removal, 2016 – 2026 (USD Billion)
    • 5.7. Global Offshore Decommissioning Market by Mobilization/Demobilization & Platform Removal, 2016 – 2026 (USD Billion)
  • Chapter 6. Offshore Decommissioning Market – Service Segment Analysis
    • 6.1. Global Offshore Decommissioning Market Revenue Share, by Service, 2019 & 2026 (USD Billion)
    • 6.2. Global Offshore Decommissioning Market by Modelling & Sampling, 2016 – 2026 (USD Billion)
    • 6.3. Global Offshore Decommissioning Market by Waste Mapping & Handling, 2016 – 2026 (USD Billion)
    • 6.4. Global Offshore Decommissioning Market by Weight Estimation, 2016 – 2026 (USD Billion)
    • 6.5. Global Offshore Decommissioning Market by Site Inspection, 2016 – 2026 (USD Billion)
    • 6.6. Global Offshore Decommissioning Market by Others, 2016 – 2026 (USD Billion)
  • Chapter 7. Offshore Decommissioning Market – Depth Segment Analysis
    • 7.1. Global Offshore Decommissioning Market Revenue Share, by Depth, 2019 & 2026 (USD Billion)
    • 7.2. Global Offshore Decommissioning Market by Shallow, 2016 – 2026 (USD Billion)
    • 7.3. Global Offshore Decommissioning Market by Deepwater, 2016 – 2026 (USD Billion)
  • Chapter 8. Offshore Decommissioning Market – Structure Segment Analysis
    • 8.1. Global Offshore Decommissioning Market Revenue Share, by Structure, 2019 & 2026 (USD Billion)
    • 8.2. Global Offshore Decommissioning Market by Topsides, 2016 – 2026 (USD Billion)
    • 8.3. Global Offshore Decommissioning Market by Substructure, 2016 – 2026 (USD Billion)
    • 8.4. Global Offshore Decommissioning Market by Subsea Infrastructure, 2016 – 2026 (USD Billion)
  • Chapter 9. Offshore Decommissioning Market - Regional Analysis
    • 9.1. Global Offshore Decommissioning Market: Regional Overview
      • 9.1.1. Global Offshore Decommissioning Market Revenue Share, By Region, 2019 & 2026 (USD Billion)
    • 9.2. North America
      • 9.2.1. North America Offshore Decommissioning Market Revenue 2016 – 2026 (USD Billion)
      • 9.2.2. North America Offshore Decommissioning Market Revenue, By Process, 2016 – 2026 (USD Billion)
      • 9.2.3. North America Offshore Decommissioning Market Revenue, By Service, 2016 – 2026 (USD Billion)
      • 9.2.4. North America Offshore Decommissioning Market Revenue, By Depth, 2016 – 2026 (USD Billion)
      • 9.2.5. North America Offshore Decommissioning Market Revenue, By Structure, 2016 – 2026 (USD Billion)
      • 9.2.6. U.S.
        • 9.2.6.1. U.S. Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.2.6.2. U.S. Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.2.6.3. U.S. Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.2.6.4. U.S. Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.2.7. Canada
        • 9.2.7.1. Canada Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.2.7.2. Canada Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.2.7.3. Canada Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.2.7.4. Canada Education & Learning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.2.8. Mexico
        • 9.2.8.1. Mexico Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.2.8.2. Mexico Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.2.8.3. Mexico Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.2.8.4. Mexico Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
    • 9.3. Europe
      • 9.3.1. Europe Offshore Decommissioning Market Revenue 2016 – 2026 (USD Billion)
      • 9.3.2. Europe Offshore Decommissioning Market Revenue, By Process, 2016 – 2026 (USD Billion)
      • 9.3.3. Europe Offshore Decommissioning Market Revenue, By Service, 2016 – 2026 (USD Billion)
      • 9.3.4. Europe Offshore Decommissioning Market Revenue, By Depth, 2016 – 2026 (USD Billion)
      • 9.3.5. Europe Offshore Decommissioning Market Revenue, By Structure, 2016 – 2026 (USD Billion)
      • 9.3.6. UK
        • 9.3.6.1. UK Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.6.2. UK Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.6.3. UK Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.6.4. UK Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.3.7. France
        • 9.3.7.1. France Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.7.2. France Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.7.3. France Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.7.4. France Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.3.8. Germany
        • 9.3.8.1. Germany Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.8.2. Germany Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.8.3. Germany Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.8.4. Germany Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.3.9. Italy
        • 9.3.9.1. Italy Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.9.2. Italy Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.9.3. Italy Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.9.4. Italy Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.3.10. Spain
        • 9.3.10.1. Spain Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.10.2. Spain Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.10.3. Spain Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.10.4. Spain Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.3.11. Russia
        • 9.3.11.1. Russia Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.11.2. Russia Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.11.3. Russia Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.11.4. Russia Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.3.12. Rest of Europe
        • 9.3.12.1. Rest of Europe Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.3.12.2. Rest of Europe Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.3.12.3. Rest of Europe Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.3.12.4. Rest of Europe Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
    • 9.4. Asia Pacific
      • 9.4.1. Asia Pacific Offshore Decommissioning Market Revenue 2016 – 2026 (USD Billion)
      • 9.4.2. Asia Pacific Offshore Decommissioning Market Revenue, By Process, 2016 – 2026 (USD Billion)
      • 9.4.3. Asia Pacific Offshore Decommissioning Market Revenue, By Service, 2016 – 2026 (USD Billion)
      • 9.4.4. Asia Pacific Offshore Decommissioning Market Revenue, By Depth, 2016 – 2026 (USD Billion)
      • 9.4.5. Asia Pacific Offshore Decommissioning Market Revenue, By Structure, 2016 – 2026 (USD Billion)
      • 9.4.6. China
        • 9.4.6.1. China Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.4.6.2. China Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.4.6.3. China Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.4.6.4. China Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.4.7. Japan
        • 9.4.7.1. Japan Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.4.7.2. Japan Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.4.7.3. Japan Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.4.7.4. Japan Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.4.8. India
        • 9.4.8.1. India Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.4.8.2. India Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.4.8.3. India Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.4.8.4. India Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.4.9. Australia
        • 9.4.9.1. Australia Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.4.9.2. Australia Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.4.9.3. Australia Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.4.9.4. Australia Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.4.10. South Korea
        • 9.4.10.1. South Korea Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.4.10.2. South Korea Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.4.10.3. South Korea Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.4.10.4. South Korea Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.4.11. Rest of Asia Pacific
        • 9.4.11.1. Rest of Asia Pacific Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.4.11.2. Rest of Asia Pacific Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.4.11.3. Rest of Asia Pacific Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.4.11.4. Rest of Asia Pacific Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
    • 9.5. Latin America
      • 9.5.1. Latin America Offshore Decommissioning Market Revenue 2016 – 2026 (USD Billion)
      • 9.5.2. Latin America Offshore Decommissioning Market Revenue, By Process, 2016 – 2026 (USD Billion)
      • 9.5.3. Latin America Offshore Decommissioning Market Revenue, By Service, 2016 – 2026 (USD Billion)
      • 9.5.4. Latin America Offshore Decommissioning Market Revenue, By Depth, 2016 – 2026 (USD Billion)
      • 9.5.5. Latin America Offshore Decommissioning Market Revenue, By Structure, 2016 – 2026 (USD Billion)
      • 9.5.6. Brazil
        • 9.5.6.1. Brazil Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.5.6.2. Brazil Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.5.6.3. Brazil Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.5.6.4. Brazil Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.5.7. Argentina
        • 9.5.7.1. Argentina Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.5.7.2. Argentina Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.5.7.3. Argentina Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.5.7.4. Argentina Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.5.8. Rest of Latin America
        • 9.5.8.1. Rest of Latin America Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.5.8.2. Rest of Latin America Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.5.8.3. Rest of Latin America Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.5.8.4. Rest of Latin America Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
    • 9.6. Middle East & Africa
      • 9.6.1. Middle East & Africa Offshore Decommissioning Market Revenue 2016 – 2026 (USD Billion)
      • 9.6.2. Middle East & Africa Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
      • 9.6.3. Middle East & Africa Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
      • 9.6.4. Middle East & Africa Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
      • 9.6.5. Middle East & Africa Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.6.6. GCC Countries
        • 9.6.6.1. GCC Countries Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.6.6.2. GCC Countries Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.6.6.3. GCC Countries Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.6.6.4. GCC Countries Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.6.7. South Africa
        • 9.6.7.1. South Africa Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.6.7.2. South Africa Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.6.7.3. South Africa Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.6.7.4. South Africa Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
      • 9.6.8. Rest of MEA
        • 9.6.8.1. Rest of MEA Offshore Decommissioning Market Revenue, by Process, 2016 – 2026 (USD Billion)
        • 9.6.8.2. Rest of MEA Offshore Decommissioning Market Revenue, by Service, 2016 – 2026 (USD Billion)
        • 9.6.8.3. Rest of MEA Offshore Decommissioning Market Revenue, by Depth, 2016 – 2026 (USD Billion)
        • 9.6.8.4. Rest of MEA Offshore Decommissioning Market Revenue, by Structure, 2016 – 2026 (USD Billion)
  • Chapter 10. Company Profiles
    • 10.1. Petrofac Limited
      • 10.1.1. Overview
      • 10.1.2. Financials
      • 10.1.3. Product portfulio
      • 10.1.4. Business strategy
      • 10.1.5. Recent developments
    • 10.2. *Same information will be provided for below mentioned companies*
      • 10.2.1. John Wood Group PLC
      • 10.2.2. Tetra Technulogies, Inc.
      • 10.2.3. TechnipFMC plc.
      • 10.2.4. Aker Sulutions
      • 10.2.5. Rambull Group
      • 10.2.6. Heerema Marine
      • 10.2.7. Amec Foster Wheeler PLC.
      • 10.2.8. DeepOcean Group Hulding BV.
      • 10.2.9. AF Gruppen
      • 10.2.10. Claxton Engineering Services, Ltd.
      • 10.2.11. Allseas Group S A.
      • 10.2.12. DNV GL

Methodology


Frequently Asked Questions

Strengthened and obligatory legal standards for offshore oil and gas operations defined by regulatory authorities of respective regions are a significant driver for the offshore decommissioning industry. Another factor driving the offshore decommissioning market is the presence of ageing oil reserves and neglected wells in matured offshore oil fields across the globe. Chemical spills or leaks from these abandoned oil and gas wells pose a major risk of ocean water contamination, endangering the marine environment. This complicates the removal and rehabilitation of an oil spill, as well as the decommissioning of the well following such incident. Decommissioning such damaged oil wells or platforms increases costs. This raises a variety of technological difficulties. Another factor driving the global offshore decommissioning market is the discovery and growth of new offshores oil reserves, specifically in deep water areas worldwide. New offshore oil discoveries, such as the Liza field in Guyana, the Tupi offshore oil field in Brazil, and the Offshore Kutch basin in India, refer to future oil production potential in these offshore fields, which would likely demand decommissioning services after abandonment.

According to Zion Market Research, the Offshore Decommissioning market is expected to generate revenue of around USD 8.91 Billion by the end of 2026, growing at a CAGR of 5.86%.

North America is projected to be a big part of this market given the presence of offshore oil reserves in the Gulf of Mexico. Europe is also expected to make a major contribution to the offshore decommissioning market, as its offshore oilfields in the North Sea are ageing. Latin America has large offshore oil reserves that are proved undeveloped in countries like Brazil, Guyana, and Venezuela. The region is also expected to be a promising place for offshore decommissioning in the coming years. Middle East & Africa has a significant amount of fossil fuel wealth; therefore, the region is projected to be a key contributor to the decommissioning market.

The major players in the global offshore decommissioning market include Petrofac Limited, John Wood Group PLC, Tetra Technologies, Inc., TechnipFMC plc., Aker Solutions, Ramboll Group, Heerema Marine, Amec Foster Wheeler PLC., DeepOcean Group Holding BV., AF Gruppen, Claxton Engineering Services, Ltd., Allseas Group S.A., and DNV GL among others.

Choose License Type

Request the coronavirus impact analysis across industries and markets

HappyClients

Office Address

Corporate Office

Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651
Email: sales@zionmarketresearch.com

We Are On Social