Offshore Decommissioning Market Strategies, Opportunities, Challenges, and Forecast to 2025

The Oil Business forms backbone of the current-day Global Economy. Increased environmental awareness and dreadful side-effects of abandoned oil wells have raised the potential for efficient control systems like Offshore Decommissioning- which involves careful plugging of the oil wells and safe disposal of the equipment used in offshore oil fields. It is a booming sector in the Petroleum industry, which along with handsome revenues, also carries increased risks. Offshore Decommissioning includes ten steps – Project Management, Engineering and Planning, Permitting regulatory compliance, Platform preparation, Well Plugging and abandonment, Conductor removal, Mobilization of derrick barges, Platform removal, Pipeline and power cable decommissioning, Material disposal and site clearance- all of which undergoing technological changes due to latest advancements. The methodology used, to a great extent, is affected by the legal framework of the country.
The Global Offshore Decommissioning market has been currently valuated to be US$ 5.91 billion in 2017 is anticipated to grow at a CAGR of 5.38%

Market Dynamics:
The age old offshore infrastructures of oil fields, a need for modernization and the concerns regarding safety have been key factors in the emergence of the industry. Over past few years, low oil prices and the difficulties in maintaining the fields has boosted the potential for Offshore Decommissioning techniques.

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Market Segmentation:
Offshore Decommissioning market can be segmented on the basis of service, depth of water, the method of removal, structure, and region. In services, it is further fragmented into project management, engineering and planning, permitting and regulatory compliances, plugging and abandonment, pipeline and power cable decommissioning, materials disposal and site clearance- to name a few. Due to increased environmental concerns and the number of barren oil fields, plugging and abandonment section has been estimated to grow fastest. In segments by depth, the Shallow water operations, which are less expensive when compared to deep water operations and are widespread, especially due to conventional oil wells have the largest market share.

Geographical distribution:
Until 2016, Europe has been the largest market, by value, for offshore decommissioning, mainly due to countries like Norway and United Kingdom, which leads other regions in terms of well-developed and mandatory decommissioning guidelines. United States Gulf of Mexico is the second largest consumer.

Amongst the service providers, key players include Aker Solutions (Norwegian), AF Gruppen S.A.(American), Allseas Group (Swiss), Technipfmc (American), Amec Foster Wheeler ASA (French) and Deep Ocean Group (Dutch)- to name a few.
Report Contents Regional Analysis Report Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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