Offshore Decommissioning Market Overview 2023-2028, Demand by Regions, Types and Analysis of Key Players

 The latest report by IMARC Group, titled “Offshore Decommissioning Market Report by Service (Project Management, Engineering and Planning, Permitting and Regulatory Compliance, Platform Preparation, Well Plugging and Abandonment, Conductor Depth, Mobilization and Demobilization of Derrick Barges, Platform Depth, Pipeline and Power Cable Decommissioning, Materials Disposal, Site Clearance), Removal (Leave in Place, Partial Depth, Complete Depth), Depth (Shallow Water, Deep Water), Structure (Topside, Substructure, Sub Infrastructure), and Region 2023-2028“, The global offshore decommissioning market size reached US$ 5.85 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.78 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.

Offshore decommissioning is a crucial process within the energy industry that involves the safe and environmentally responsible removal of offshore oil and gas infrastructure, such as drilling platforms and wells, when they reach the end of their productive life cycle. This meticulous operation ensures the proper disposal of equipment, the cessation of hydrocarbon production, and the restoration of the seabed to its natural state. It encompasses a series of systematic steps, including plugging and abandoning wells, disconnecting pipelines, and dismantling or disposing of structures.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/offshore-decommissioning-market/requestsample

Offshore Decommissioning Market Trends and Drivers:

Numerous offshore oil and gas facilities have exceeded their operational lifespan, necessitating decommissioning. Aging infrastructure drives the demand for decommissioning services. Additionally, fluctuations in oil prices can influence the decision to decommission or extend the life of offshore facilities. Low oil prices can accelerate decommissioning activities. Other than this, mergers and acquisitions in the energy sector impact decommissioning strategies and create opportunities for specialized service providers. Besides this, the sheer volume of offshore installations reaching the end of their life cycle ensures a steady stream of decommissioning projects. In line with this, increasing environmental awareness has led to stricter regulations governing decommissioning to ensure minimal ecological impact. Compliance with these regulations is a major driver. Moreover, companies increasingly consider ARO liabilities in their financial planning, leading to proactive decommissioning efforts.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Service:

• Project Management, Engineering and Planning
• Permitting and Regulatory Compliance
• Platform Preparation
• Well Plugging and Abandonment
• Conductor Depth
• Mobilization and Demobilization of Derrick Barges
• Platform Depth
• Pipeline and Power Cable Decommissioning
• Materials Disposal
• Site Clearance

Breakup by Removal:

• Leave in Place
• Partial Depth
• Complete Depth

Breakup by Depth:

• Shallow Water
• Deep Water

Breakup by Structure:

• Topside
• Substructure
• Sub Infrastructure

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• AF Gruppen Asa
• Aker Solutions ASA
• Allseas Group S.A
• Claxton Engineering Services Ltd.
• DNV GL Group
• Heerema Marine Contractors
• John Wood Group PLC
• Mactech Offshore Machining & Cutting Solutions
• Petrofac Limited
• Saipem S.p.A.
• Subsea 7 S.A

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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