Offshore Decommissioning Industry Offshore Decommissioning Industry

Offshore Decommissioning Industry Key Players, Trends, Growth
Opportunities and Industry Forecast till 2025
“The factors that propel the growth of the market include
maturing oil and aging platforms and gas fields,
increasing oil and gas platforms around the world, low oil
price, environmental concerns, and increasingly stringent
decommissioning regulations.”
The global offshore decommissioning market is anticipated to witness an exponential growth in the forecast
period. Offshore decommissioning of aging oil & gas platforms and subsea wells is essential in order to save the
environment. Decommissioning‘s purpose is the safe elimination of the equipment that is used for oil or gas
production and exploration and to dispose them off at the end of their production.
The factors that propel the growth of the market include maturing oil and aging platforms and gas fields,
increasing oil and gas platforms around the world, low oil price, environmental concerns, and increasingly
stringent decommissioning regulations. On the other hand, there are factors that may hamper the growth of
the market including high cost associated with offshore decommissioning projects, stringent environmental law
and regulations, and a decline in prices of oil.
The offshore decommissioning market is anticipated to expand at a significant CAGR in the upcoming period as
the scope, product types, and its applications are increasing across the globe. The market could be explored by
service type, depth, structure, removal, and geography.
Market could be explored by service type as Platform Removal, Well Plugging & Abandonment, Others. The
“Well Plugging and Abandonment Service” segment led the offshore decommissioning market in 2016 and will
continue to lead in the forecast period. The key factors that could be attributed to the growth of the market
include increasing regulatory requirements for appropriate abandonment of unproductive reserves and growing
environmental concerns.
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