LONDON, Jan. 24, 2020 /PRNewswire/ -- Visiongain has forecasted that the global Offshore Oil & Gas Decommissioning market will see a capital expenditure (CAPEX) of $8,279 million in 2020. Decommissioning of ageing offshore oil and gas projects has increased substantially over the past few years. Moreover, over 600 projects along the Gulf of Mexico, the North Sea and Asia Pacific are likely to be disposed of over the next five to six years. This, in turn, is projected to drive the global offshore oil and gas decommissioning market over the forecast period. Increasing stringent decommissioning regulation are projected to play a crucial role to promote the growth in this market over the next 10 years. Offshore decommissioning is highly complex and potentially has a vast environmental impact. It is also a global industry, and therefore understanding regulations worldwide are essential for companies operating within the market. Crucially, the development of regulation in the offshore decommissioning market has the ability to impact the rate at which the market grows and also how much-decommissioning processes are going to cost.
Read on to discover the potential business opportunities available.
With such established global offshore oil and gas fields, decommissioning becomes increasingly pertinent. As global offshore oil and gas fields mature, ageing structures must be removed. With the average lifetime of an offshore oil and gas field in the region of 25 to 40 years, this leaves many global structures in need of decommissioning. The cost involved in the decommissioning varies from project to project and coast to coast. The majority of costs are associated with the jacket, topside and subsea structure removal phases and well P&A. Decommissioning projects are highly complex, lengthy and expensive; the process involves many different stages and can take more than a decade to complete. With such environmental, economic and social pressures, the offshore decommissioning market is set to drastically increase, creating substantial business opportunities along the way.
There are hundreds of companies who either possess offshore oil and gas assets that will need to be decommissioned over the next decade, or who provide consultancy, engineering and other services to the decommissioning industry. Therefore, the following list of companies is by no means exhaustive. Companies have been broken down into three groups: oil and gas companies with offshore assets; decommissioning contractors; and decommissioning consultancies.
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Leading Companies in the Offshore Oil & Gas Decommissioning Market
Oil and Gas Companies with Offshore Assets:
• Apache Corporation
• Canadian Natural Resources (CNR)
• Chevron Corporation
• ExxonMobil Corporation
• PTTEP Australasia
• Royal Dutch Shell
• Total S.A.
Visiongain's global Offshore Oil & Gas Decommissioning market report can keep you informed and up to date with the developments in the market, across four different regions: The Gulf of Mexico and North America, the North Sea, Asia Pacific and Rest of the World.
With reference to this report, it details the key investments trend in the global market, subdivided by regions, capital and operational expenditure and project type. Through extensive secondary research and interviews with industry experts, Visiongain has identified a series of market trends that will impact the Offshore Oil & Gas Decommissioning market over the forecast timeframe.
The report will answer questions such as:
• How is the offshore oil & gas decommissioning market evolving?
• What is driving and restraining the offshore oil & gas decommissioning market?
• How will each offshore oil & gas decommissioning submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2029?
• How will the market shares for each offshore oil & gas Decommissioning submarket develop from 2019 to 2029?
• What will be the main driver for the overall market from 2019 to 2029?
• Will leading offshore oil & gas decommissioning markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2029 and which geographical region will lead the market in 2029?
• Who are the leading players and what are their prospects over the forecast period?
• What are the decommissioning projects for these leading companies?
• How will the industry evolve during the period between 2019 and 2029?
Five Reasons Why You Must Order and Read This Report Today:
1) The report provides forecasts for the Global Offshore Oil & Gas Decommissioning market, by TYPE, for the period 2020-2030
• Well P&A CAPEX 2020-2030
• Jackside & Topside Removal CAPEX 2020-2030
• Others CAPEX 2020-2030
2) The report also forecasts and analyses the global Offshore Oil & Gas Decommissioning market by Regions from 2020-2030
• Gulf of Mexico and North America CAPEX 2020-2030
• North Sea CAPEX 2020-2030
• Asia-Pacific CAPEX 2020-2030
• Rest of the World CAPEX 2020-2030
Among the regions, the North Sea region is estimated to account for 48.65% of the world offshore oil and gas decommissioning market in 2020 while the Gulf of Mexico and North America region is projected to be a second largest region for the decommissioning of offshore oil and gas platforms. The Gulf of Mexico is anticipated to experience a large number of oil and gas platforms being decommissioned over the next 10 years. The North Sea region is projected to be the largest region, and it is expected to grow at a CAGR of 5.5% over the period of 2020 to 2025 and 2.95% over the period of 2025 to 2030.
3) The report reveals global regulations and agreements affecting the Offshore Oil and Gas Decommissioning Industry:
4) The report includes Leading Companies analysis in the Offshore Oil & Gas Decommissioning Market Companies
• Companies with Offshore Assets
• Decommissioning Contractors
• Decommissioning Consultancies
5) The report provides detailed profiles of the leading companies operating within the Offshore Oil & Gas Decommissioning market:
• BP Plc
• Canadian Natural Resources
• Chevron Corporation
• ExxonMobil Corporation
• Total S.A.
• Royal Dutch Shell Plc
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Companies covered in the report include:
Bibby Offshore Limited
Brasil Petroleo Ltda
Cal Dive International
Canadian Natural Resources
Chevron Brasil Oleo & Gas Ltda
Cutting Underwater Solutions (CUT)
Eric Faulds Associates Ltd
Genesis Oil and Gas Consultants Ltd
Heerema Marine Contractors (HMC)
JX Nippon Oil and Gas Exploration Corporation
Linch-Pin Offshore Management Solutions
Mauritania Deepwater Ltd.
Oceaneering (Norse Cutting and Abandonment)
Pipeline Services International
Reverse Engineering Services Ltd (RESL)
Royal Dutch Shell
Stork Technical Services
Wild Well Control
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