Offshore Decommissioning Market

Offshore Decommissioning Market by Service (Well Plugging & Abandonment, Platform Removal, Others), Depth (Shallow, Deepwater), Structure (Topsides, Substructure), Removal (Leave in Place, Partial, Complete), and Region – Global Forecast to 2027

Report Code: EP 5229 Oct, 2019, by marketsandmarkets.com

[189 Pages Report] The global offshore decommissioning market size is projected to grow at a CAGR of 4.8%, from 2019 to 2027, to reach a market size of USD 8.9 billion by 2027. This growth is attributed to increasing focus on mature oil and gas fields and aging offshore platforms, particularly in shallow water

Offshore Decommissioning Market

The well plugging & abandonment is expected to be the largest contributor to the offshore decommissioning market, by service, during the forecast period

The market is segmented, by service, project management, engineering, and planning, permitting and regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization and demobilization of derrick barges, platform removal, pipeline and power cable decommissioning, materials disposal, and site clearance.

The well plugging & abandonment segment accounted for the largest market share in 2018, driven by demand from the European market. Well plugging & abandonment accounts for up to 45% of the total decommissioning cost of a project.

The shallow water is expected to be the fastest-growing market during the forecast period

The offshore decommissioning, by depth, is segmented based on the depth at which decommissioning projects happens, into shallow water and deepwater. The shallow water segment was the largest market and is projected to maintain its edge over the deepwater segment owing to its lower operational costs. However, in the future, the deepwater segment would compete with shallow water as many platform installations now are at deepwater and ultra-deepwater depths.

The topside segment is expected to be the fastest-growing market for the offshore decommissioning market, by structure, during the forecast period

The market has been categorized, based on the topside, substructure, and subsea infrastructure. Topsides comprise the largest share, by weight, of an offshore platform and the decommissioning of topsides and related equipment requires specialized heavy lift vessels and removal equipment. Thus, the market for topsides constitutes the largest segment of the offshore decommissioning, by structure.

The complete removal activity is expected to be the largest contributor to the offshore decommissioning market, by removal, during the forecast period

The offshore decommissioning industry is segmented, by removal, partial, leave in place, and complete. The stringent regulations for complete offshore platform removal to restore the marine life and seafloor to its pre-production conditions is expected to drive the offshore decommissioning, by removal

Offshore Decommissioning Market

Europe is expected to be the largest market during the forecast period

In this report, the offshore decommissioning market has been categorized, based on region, into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The European market led the offshore decommissioning industry, with the largest market share, by value, in 2018, and this trend is projected to continue until 2027. The market in North America will also play an important role in driving demand for offshore decommissioning.

Key Market Players

The major players in the offshore decommissioning market are Aker Solutions (Norway), Ramboll Group (Denmark), AF Gruppen ASA (Norway), Technifmc Plc (France), John Wood Group Plc (U.K.), and Tetra Technologies Inc., (U.S.), among others.

Aker Solutions (Norway) is a key player in this segment. The company actively focuses on both organic and inorganic strategies to increase its global market share. For instance, in February 2018, the company expanded its business offerings in the South American region. In continuation with that, the company signed its second contract in the country with Petrobras for renovating, repairing and upgrading offshore production units.

Another major player in the market is the Ramboll Group (Denmark). The company opts for contracts & agreement as to its inorganic business strategy for increasing its clientele base globally. For instance, in June 2016, it was awarded a contract to support DONG E&P with engineering services for upstream oil and gas activities. Majorly, four areas are covered under the contract, which is, front-end development, brownfield modifications, specialist services, and late-life and decommissioning for DONG’s offshore activities.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2027

Base year considered

2018

Forecast period

2019–2027

Forecast units

Value (USD)

Segments covered

Service, Structure, Depth, Removal, and Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and South America

Companies covered

Aker Solutions ASA (Norway), Ramboll Group (Denmark), AF Gruppen ASA (Norway), Technifmc Plc (France), John Wood Group Plc (U.K.), and Tetra Technologies Inc., (U.S.).

This research report categorizes the market by service, structure, depth, removal, and region.

By service:

  • Project management, engineering & planning
  • Permitting & regulatory compliance
  • Platform preparation
  • Well plugging & abandonment
  • Conductor removal
  • Mobilization & demobilization of derrick barges
  • Platform removal
  • Pipeline & power cable decommissioning
  • Materials disposal
  • Site clearance

By removal:

  • Leave in place
  • Partial removal (includes toppled in place)
  • Complete removal

By depth:

  • Shallow water
  • Deepwater

By structure:

  • Topside
  • Substructure
  • Sub infrastructure

By region:

  • Europe
  • North America
  • Asia Pacific
  • Middle East & Africa
  • South America

Recent Developments

  • In August 2019, Petrofac was awarded a decommissioning contract in the North Sea. Under the contract, Petrofac would be providing well plugging and abandonment of for four wells within the Rubie and Renee fields. Petrofac would be responsible for detailed planning, direct procurement, and management of all sub-contracted services, including the provision of a semi-submersible rig.
  • In April 2019, Petrofac signed a contract with Tullow Oil. Under the contract, Petrofac will be responsible for the execution of plug and abandonment operations on three of Tullow Oil’s subsea wells in the Southern North Sea. This contract follows the successful completion of plug and abandonment programs in 2016 and 2018.

Key Questions Addressed by the Report

  • What are the industry trends that will be seen over the next five years?
  • Which of the offshore decommissioning market elements will lead by 2072?
  • Which of the service segment will have the maximum opportunity to grow during the forecast period?
  • Which will be the leading region with the highest market share by 2027?
  • How are companies implementing organic and strategies to gain increased market share?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Definition
           1.2.1 Offshore Decommissioning Market Terminology, By Depth: Inclusions & Exclusions
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regional Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 24)
    2.1 Scope
    2.1 Market Size Estimation
           2.1.1 Demand-Side Analysis
    2.2 Data Triangulation
                    2.2.1.1 Assumptions
           2.2.2 Supply-Side Analysis
                    2.2.2.1 Assumptions
                    2.2.2.2 Calculation
           2.2.3 Forecast
    2.3 Some of the Insights of Industry Experts

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Offshore Decommissioning Market
    4.2 Offshore Decommissioning, By Structure
    4.3 Offshore Decommissioning, By Depth
    4.4 Offshore Decommissioning, By Removal Type
    4.5 Europe Offshore Decommissioning, By Service & Country
    4.6 Offshore Decommissioning, By Region

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Number of Maturing Oilfields
                    5.2.1.2 Aging Offshore Infrastructure
                    5.2.1.3 Low Crude Oil Prices
           5.2.2 Restraints
                    5.2.2.1 Lack of Technology Infrastructure and Regulatory Monitoring
                    5.2.2.2 High Cost of Decommissioning
           5.2.3 Opportunities
                    5.2.3.1 Innovative Technology for Landscape Reversal
                    5.2.3.2 Increasing Investments in the Oil & Gas Industry
           5.2.4 Challenges
                    5.2.4.1 Associated Environmental Concerns
                    5.2.4.2 Asset Life Extension Technology

6 Offshore Decommissioning Market, By Service (Page No. - 42)
    6.1 Introduction
    6.2 Project Management, Engineering, and Planning
           6.2.1 Project Management, Engineering, and Planning Phase of Decommissioning Can Start as Early as 2–3 Years Prior to the Cessation of Production (COP)
    6.3 Permitting & Regulatory Compliance
           6.3.1 Middle East & Africa is Among the Fastest Markets in Following Regulatory Compliance
    6.4 Platform Preparation
           6.4.1 Platform Preparation Helps in Reducing the Offshore Decommissioning Cost as Well as Time
    6.5 Well Plugging & Abandonment
           6.5.1 Well Plugging & Abandonment Helps to Ensure Long-Term Well Integrity and Accounts for the Largest Market Size
    6.6 Conductor Removal
           6.6.1 Conductor Removal Can Be Done By the Following Precised Procedures
    6.7 Mobilization & Demobilization of Derrick Barges
           6.7.1 Derrick Barges are Very Costly, But They are Capable of Doing A Huge Amount of Work
    6.8 Platform Removal
           6.8.1 The North Sea and the Gulf of Mexico are Home to the Maximum Number of Platforms Which are Ideal and Not Producing Any Type of Hydrocarbons and Eligible for Decommissioning
    6.9 Pipeline & Power Cable Decommissioning
           6.9.1 Aged Offshore Infrastructure is Estimated to Drive the Segment
    6.1 Material Disposal
           6.10.1 Countries Such as the UK, Norway, and Germany are Investing Huge Amount of Money in Offshore Decommissioning and are Estimated to Drive the Segment
    6.11 Site Clearance
           6.11.1 Availability of Regulatory Framework Guiding the Operating Companies to Conduct Their Site Clearance in an Environmentally Safe Manner

7 Offshore Decommissioning Market, By Structure (Page No. - 54)
    7.1 Introduction
    7.2 Topsides
           7.2.1 Topsides Structures are Done Majorly on Steel Jackets Or the Concrete Gravity Bases Making the Segment to Grow at the Fastest Pace
    7.3 Substructure
           7.3.1 Strict Government Norms Have Expected to Drive the Substructure Segment During the Forecast Period
    7.4 Subsea Infrastructure
           7.4.1 Aging Subsea Equipment and Infrastructure is Expected to Drive the Segment

8 Offshore Decommissioning Market, By Depth (Page No. - 59)
    8.1 Introduction
    8.2 Shallow Water
           8.2.1 Shallow Water Projects are 25–30 Years Old and Hence Need to Be Decommissioned
    8.3 Deepwater
           8.3.1 The US, the Gulf of Mexico, and the Southern North Sea Markets are Likely to Drive the Growth of the Deepwater Segment

9 Offshore Decommissioning Market, By Removal (Page No. - 63)
    9.1 Introduction
    9.2 Complete Removal
           9.2.1 Safety Concerns of Marine Life are Expected to Drive the Complete Removal Segment During the Forecast Period
    9.3 Partial Removal
           9.3.1 Partially Removed Platforms Provide Options to Productive Fish Habitats and Potentially Mitigate Reductions in Shell Mound Habitat
    9.4 Leave in Place
           9.4.1 Leave in Place Requires No Site Clearance and Provides Migratory Animal Habitat Which is Estimated to Drive the Segment

10 Offshore Decommissioning Market, By Region (Page No. - 68)
     10.1 Introduction
     10.2 Europe
             10.2.1 By Service
             10.2.2 By Structure
             10.2.3 By Depth
             10.2.4 By Removal
             10.2.5 By Country
                        10.2.5.1 UK
                                     10.2.5.1.1 Government Policies Such as Tax Refunds for Decommissioning of Its Oil & Gas Assets are Fostering the Market in the UK
                        10.2.5.2 Norway
                                     10.2.5.2.1 Increasing Number of Mature Oilfields is Expected to Lead to an Increase in the Offshore Decommissioning Industry in Norway
                        10.2.5.3 The Netherlands
                                     10.2.5.3.1 Most of the Old Structures and Platforms in the Shallow Water Area are Now Eligible for Decommissioning Work
                        10.2.5.4 Rest of Europe
     10.3 North America
             10.3.1 By Service
             10.3.2 By Structure
             10.3.3 By Depth
             10.3.4 By Removal
             10.3.5 By Country
                        10.3.5.1 US
                                     10.3.5.1.1 Robust Regulatory Infrastructure for Aging Offshore Installations to Cut Losses From Economically Unviable Fields
                        10.3.5.2 Canada
                                     10.3.5.2.1 Economical and Easy Removal of Topsides Structure Compared to Other Structures is Expected to Drive the Offshore Decommissioning Industry in Canada During the Forecast Period
                        10.3.5.3 Mexico
                                     10.3.5.3.1 Complete Removal of Aging Infrastructure Dominated the Offshore Decommissioning Industry in Mexico
     10.4 Asia Pacific
             10.4.1 By Service
             10.4.2 By Structure
             10.4.3 By Depth
             10.4.4 By Removal
             10.4.5 By Country
                        10.4.5.1 China
                                     10.4.5.1.1 The Shallow Water Segment is Expected to Dominate the Offshore Decommissioning Industry in China
                        10.4.5.2 Indonesia
                                     10.4.5.2.1 Declining Oil & Gas Production Over the Past 10 Years From Aging Oilfields is Expected to Drive the Market
                        10.4.5.3 Malaysia
                                     10.4.5.3.1 Increasing Decommissioning Activities in Labuan Island are Expected to Drive the Market
                        10.4.5.4 Australia
                                     10.4.5.4.1 Increasing Number of Mature Oilfields in the Country is Expected to Drive the Offshore Decommissioning Industry During the Forecast Period
                        10.4.5.5 Rest of Asia Pacific
     10.5 Middle East & Africa
             10.5.1 By Service
             10.5.2 By Structure
             10.5.3 By Depth
             10.5.4 By Removal
             10.5.5 By Country
                        10.5.5.1 UAE
                                     10.5.5.1.1 Increasing Number of Mature Oilfields in Shallow Water is Expected to Dominate the Offshore Decommissioning Industry in the UAE
                        10.5.5.2 Angola
                                     10.5.5.2.1 Complete Removal of Aging Infrastructure Dominated the Offshore Decommissioning Industry in Angola
                        10.5.5.3 Saudi Arabia
                                     10.5.5.3.1 Increasing Decommissioning Activities in the Safaniya Offshore Field
                        10.5.5.4 Rest of Middle East & Africa
     10.6 South America
             10.6.1 By Service
             10.6.2 By Structure
             10.6.3 By Depth
             10.6.4 By Removal
             10.6.5 By Country
                        10.6.5.1 Brazil
                                     10.6.5.1.1 Aging Oilfields and Structures in the Guaricema and Caioba Shallow Water Fields are Driving the Market in Brazil
                        10.6.5.2 Rest of South America
                                     10.6.5.2.1 Investments in Panama and Chile Would Increase the Demand for Offshore Decommissioning During the Forecast Period

11 Competitive Landscape (Page No. - 119)
     11.1 Overview
     11.2 Competitive Leadership Mapping (Overall Market)
             11.2.1 Visionary Leaders
             11.2.2 Innovators
             11.2.3 Dynamic
             11.2.4 Emerging
     11.3 Market Share, 2018
     11.4 Competitive Scenario
             11.4.1 Contracts & Agreements
             11.4.2 New Product Launches
             11.4.3 Mergers & Acquisitions
             11.4.4 Expansions & Investments
             11.4.5 Partnerships & Collaborations

12 Company Profiles (Page No. - 127)
     12.1 Halliburton
             12.1.1 Business Overview
             12.1.2 Services Offered
             12.1.3 Recent Developments
             12.1.4 SWOT Analysis
             12.1.5 MnM View
     12.2 Petrofac
             12.2.1 Business Overview
             12.2.2 Services Offered
             12.2.3 Recent Developments
             12.2.4 SWOT Analysis
             12.2.5 MnM View
     12.3 Weatherford
             12.3.1 Business Overview
             12.3.2 Services Offered
             12.3.3 Recent Developments
             12.3.4 SWOT Analysis
             12.3.5 MnM View
     12.4 Schlumberger
             12.4.1 Business Overview
             12.4.2 Services Offered
             12.4.3 Recent Developments
             12.4.4 SWOT Analysis
             12.4.5 MnM View
     12.5 Subsea 7
             12.5.1 Business Overview
             12.5.2 Services Offered
             12.5.3 Recent Developments
             12.5.4 SWOT Analysis
             12.5.5 MnM View
     12.6 Technipfmc
             12.6.1 Business Overview
             12.6.2 Services Offered
             12.6.3 Recent Developments
             12.6.4 SWOT Analysis
             12.6.5 MnM View
     12.7 John Wood Group
             12.7.1 Business Overview
             12.7.2 Services Offered
             12.7.3 Recent Developments
             12.7.4 SWOT Analysis
             12.7.5 MnM View
     12.8 Ramboll
             12.8.1 Business Overview
             12.8.2 Services Offered
             12.8.3 Recent Developments
             12.8.4 MnM View
     12.9 Oceaneering
             12.9.1 Business Overview
             12.9.2 Products Offered
             12.9.3 Recent Developments
             12.9.4 MnM View
     12.10 Bhge
             12.10.1 Business Overview
             12.10.2 Services Offered
             12.10.3 Recent Developments
             12.10.4 MnM View
     12.11 Royal Dutch Shell
             12.11.1 Business Overview
             12.11.2 Services  Offered
             12.11.3 MnM View
     12.12 Aker Solutions
             12.12.1 Business Overview
             12.12.2 Services Offered
             12.12.3 Recent Developments
             12.12.4 MnM View
     12.13 Rever Offshore
             12.13.1 Business Overview
             12.13.2 Services Offered
             12.13.3 Recent Developments
             12.13.4 MnM View
     12.14 DNV GL
             12.14.1 Business Overview
             12.14.2 Services Offered
             12.14.3 Recent Developments
             12.14.4 MnM View
     12.15 Saipem
             12.15.1 Business Overview
             12.15.2 Services Offered
             12.15.3 Recent Developments
             12.15.4 MnM View
     12.16 Heerema Marine Contractors
             12.16.1 Business Overview
             12.16.2 Services Offered
             12.16.3 Recent Developments
             12.16.4 MnM View
     12.17 Claxton Engineering Services
             12.17.1 Business Overview
             12.17.2 Services Offered
             12.17.3 Recent Developments
             12.17.4 MnM View
     12.18 Deepocean Group
             12.18.1 Business Overview
             12.18.2 Services Offered
             12.18.3 Recent Developments
             12.18.4 MnM View
     12.19 Allseas Group
             12.19.1 Business Overview
             12.19.2 Services Offered
             12.19.3 Recent Developments
             12.19.4 MnM View
     12.20 Able UK
             12.20.1 Business Overview
             12.20.2 Services Offered
             12.20.3 Recent Developments
             12.20.4 MnM View
     12.21 Enermech
             12.21.1 Business Overview
             12.21.2 Services Offered
             12.21.3 Recent Developments
             12.21.4 MnM View
     12.22 Mactech
             12.22.1 Business Overview
             12.22.2 Services Offered
     12.23 Annexure

13 Appendix (Page No. - 181)
     13.1 Insights of Industry Experts
          Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (103 Tables)

Table 1 Offshore Decommissioning Market Snapshot
Table 2 Offshore Decommissioning Market Size, By Service Type, 2017–2027 (USD Million)
Table 3 Project Management, Engineering, and Planning: Market Size, By Region, 2017–2027 (USD Million)
Table 4 Permitting & Regulatory Compliance: Market Size, By Region, 2017–2027 (USD Million)
Table 5 Platform Preparation: Market Size, By Region, 2017–2027 (USD Million)
Table 6 Well Plugging & Abandonment: Market Size, By Region, 2017–2027 (USD Million)
Table 7 Conductor Removal: Market Size, By Region, 2017–2027 (USD Million)
Table 8 Mobilization & Demobilization of Derrick Barges: Market Size, By Region, 2017–2027 (USD Million)
Table 9 Platform Removal: Market Size, By Region, 2017–2027 (USD Million)
Table 10 Pipeline & Power Cable Decommissioning: Market Size, By Region, 2017–2027 (USD Million)
Table 11 Material Disposal: Market Size, By Region, 2017–2027 (USD Million)
Table 12 Site Clearance: Market Size, By Region, 2017–2027 (USD Million)
Table 13 Offshore Decommissioning Market Size, By Structure, 2017–2027 (USD Million)
Table 14 Topsides: Market Size, By Region, 2017–2027 (USD Million)
Table 15 Substructure: Market Size, By Region, 2017–2027 (USD Million)
Table 16 Subsea Infrastructure: Market Size, By Region, 2017–2027 (USD Million)
Table 17 Offshore Decommissioning Market Size, By Depth, 2017–2027 (USD Million)
Table 18 Shallow Water: Market Size, By Region, 2017–2027 (USD Million)
Table 19 Deepwater: Market Size, By Region, 2017–2027 (USD Million)
Table 20 Offshore Decommissioning Market Size, By Removal, 2017–2027 (USD Million)
Table 21 Complete Removal: Market Size, By Region, 2017–2027 (USD Million)
Table 22 Partial Removal: Market Size, By Region, 2017–2027 (USD Million)
Table 23 Leave in Place: Market Size, By Region, 2017–2027 (USD Million)
Table 24 Offshore Decommissioning Market Size, By Region, 2017–2027 (USD Million)
Table 25 Europe: Offshore Decommissioning Market Size, By Service, 2017–2027 (USD Million)
Table 26 Europe: Market Size, By Structure, 2017–2027 (USD Million)
Table 27 Europe: Market Size, By Depth 2017–2027 (USD Million)
Table 28 Europe: Market Size, By Removal, 2017–2027 (USD Million)
Table 29 Europe: Market Size, By Country, 2017–2027 (USD Million)
Table 30 UK: Market Size, By Structure, 2017–2027 (USD Million)
Table 31 UK: Offshore Decommissioning Market Size, By Depth, 2017–2027 (USD Million)
Table 32 UK: Market Size, By Removal, 2017–2027 (USD Million)
Table 33 Norway: Market Size, By Structure, 2017–2027 (USD Million)
Table 34 Norway: Market Size, By Depth, 2017–2027 (USD Million)
Table 35 Norway: Market Size, By Removal, 2017–2027 (USD Million)
Table 36 The Netherlands: Market Size, By Structure, 2017–2027 (USD Million)
Table 37 The Netherlands: Market Size, By Depth, 2017–2027 (USD Million)
Table 38 The Netherlands: Market Size, By Removal, 2017–2027 (USD Million)
Table 39 Rest of Europe: Market Size, By Structure, 2017–2027 (USD Million)
Table 40 Rest of Europe: Market Size, By Depth, 2017–2027 (USD Million)
Table 41 Rest of Europe: Market Size, By Removal, 2017–2027 (USD Million)
Table 42 North America: Offshore Decommissioning Market Size, By Service, 2017–2027 (USD Million)
Table 43 North America: Market Size, By Structure, 2017–2027 (USD Million)
Table 44 North America: Market Size, By Depth, 2017–2027 (USD Million)
Table 45 North America: Market Size, By Removal, 2017–2027 (USD Million)
Table 46 North America: Market Size, By Country, 2017–2027 (USD Million)
Table 47 US: Market Size, By Structure, 2017–2027 (USD Million)
Table 48 US: Offshore Decommissioning Market Size, By Depth, 2017–2027 (USD Million)
Table 49 US: Market Size, By Removal, 2017–2027 (USD Million)
Table 50 Canada: Market Size, By Structure, 2017–2027 (USD Million)
Table 51 Canada: Market Size, By Depth, 2017–2027 (USD Million)
Table 52 Canada: Market Size, By Removal 2017–2027 (USD Million)
Table 53 Mexico: Market Size, By Structure, 2017–2027 (USD Million)
Table 54 Mexico: Market Size, By Depth, 2017–2027 (USD Million)
Table 55 Mexico: Market Size, By Removal 2017–2027 (USD Million)
Table 56 Asia Pacific: Offshore Decommissioning Market Size, By Service, 2017–2027 (USD Million)
Table 57 Asia Pacific: Market Size, By Structure, 2017–2027 (USD Million)
Table 58 Asia Pacific: Market Size, By Depth, 2017–2027 (USD Million)
Table 59 Asia Pacific: Market Size, By Removal, 2017–2027 (USD Million)
Table 60 Asia Pacific: Market Size, By Country, 2017–2027 (USD Million)
Table 61 China: Market Size, By Structure, 2017–2027 (USD Million)
Table 62 China: Market Size, By Depth, 2017–2027 (USD Million)
Table 63 China: Market Size, By Removal, 2017–2027 (USD Million)
Table 64 Indonesia: Market Size, By Structure, 2017–2027 (USD Million)
Table 65 Indonesia: Offshore Decommissioning Market Size, By Depth, 2017–2027 (USD Million)
Table 66 Indonesia: Market Size, By Service, 2017–2027 (USD Million)
Table 67 Malaysia: Market Size, By Structure, 2017–2027 (USD Million)
Table 68 Malaysia: Market Size, By Depth, 2017–2027 (USD Million)
Table 69 Malaysia: Market Size, By Removal, 2017–2027 (USD Million)
Table 70 Australia: Market Size, By Structure, 2017–2027 (USD Million)
Table 71 Australia: Market Size, By Depth, 2017–2027 (USD Million)
Table 72 Australia: Market Size, By Removal, 2017–2027 (USD Million)
Table 73 Rest of Asia Pacific: Market Size, By Structure, 2017–2027 (USD Million)
Table 74 Rest of Asia Pacific: Market Size, By Depth, 2017–2027 (USD Million)
Table 75 Rest of Asia Pacific: Market Size, By Removal, 2017–2027 (USD Million)
Table 76 Middle East & Africa: Offshore Decommissioning Market Size, By Service, 2017–2027 (USD Million)
Table 77 Middle East & Africa: Market Size, By Structure, 2017–2027 (USD Million)
Table 78 Middle East & Africa: Market Size, By Depth, 2017–2027 (USD Million)
Table 79 Middle East & Africa: Market Size, By Removal, 2017–2027 (USD Million)
Table 80 Middle East & Africa: Market Size, By Country, 2017–2027 (USD Million)
Table 81 UAE: Market Size, By Structure, 2017–2027 (USD Million)
Table 82 UAE: Offshore Decommissioning Market Size, By Depth, 2017–2027 (USD Million)
Table 83 UAE: Market Size, By Removal, 2017–2027 (USD Million)
Table 84 Angola: Market Size, By Structure, 2017–2027 (USD Million)
Table 85 Angola: Market Size, By Depth, 2017–2027 (USD Million)
Table 86 Angola: Market Size, By Removal, 2017–2027 (USD Million)
Table 87 Saudi Arabia: Market Size, By Structure, 2017–2027 (USD Million)
Table 88 Saudi Arabia: Market Size, By Depth, 2017–2027 (USD Million)
Table 89 Saudi Arabia: Market Size, By Removal, 2017–2027 (USD Million)
Table 90 Rest of Middle East & Africa: Market Size, By Structure, 2017–2027 (USD Million)
Table 91 Rest of Middle East & Africa: Market Size, By Depth, 2017–2027 (USD Million)
Table 92 Rest of Middle East & Africa: Market Size, By Removal, 2017–2027 (USD Million)
Table 93 South America: Offshore Decommissioning Market Size, By Service, 2017–2027 (USD Million)
Table 94 South America: Market Size, By Structure, 2017–2027 (USD Million)
Table 95 South America: Market Size, By Depth, 2017–2027 (USD Million)
Table 96 South America: Market Size, By Removal, 2017–2027 (USD Million)
Table 97 South America: Market Size, By Country, 2017–2027 (USD Million)
Table 98 Brazil: Offshore Decommissioning Market Size, By Structure, 2017–2027 (USD Million)
Table 99 Brazil: Market Size, By Depth, 2017–2027 (USD Million)
Table 100 Brazil: Market Size, By Removal, 2017–2027 (USD Million)
Table 101 Rest of South America: Market Size, By Structure, 2017–2027 (USD Million)
Table 102 Rest of South America: Market Size, By Depth, 2017–2027 (USD Million)
Table 103 Rest of South America: Market Size, By Removal, 2017–2027 (USD Million)


List of Figures (51 Figures)

Figure 1 Number of Decommissioning Approval and Project Cost are the Determining Factors for the Global Offshore Decommissioning Market
Figure 2 Market Estimation Methodology and Key Assumptions
Figure 3 Data Triangulation
Figure 4 Well Plugging & Abandonment Segment is Expected to Hold the Largest Share of the Offshore Decommissioning Market, By Service, During the Forecast Period
Figure 5 Topsides Segment is Expected to Lead the Offshore Decommissioning Market, By Structure, During the Forecast Period
Figure 6 Shallow Water Segment is Expected to Lead the Offshore Decommissioning Market, By Depth, During the Forecast Period
Figure 7 Complete Removal Segment is Expected to Lead the Offshore Decommissioning Market, By Removal, During the Forecast Period
Figure 8 Europe Dominated the Offshore Decommissioning Market (By Value) in 2018
Figure 9 Maturing Oil & Gas Fields, Low Crude Oil Prices, and Aging Offshore Infrastructure are Expected to Drive the Offshore Decommissioning Market, 2019–2027
Figure 10 Topsides Segment is Projected to Dominate the Offshore Decommissioning Market, By Structure, Until 2027
Figure 11 Shallow Water Segment is Projected to Dominate the Offshore Decommissioning Market, By Depth, Until 2027
Figure 12 Complete Removal Segment is Projected to Dominate the Offshore Decommissioning Market, By Removal Type, Until 2027
Figure 13 Well Plugging & Abandonment and the UK Dominated the Europe Offshore Decommissioning Market in 2018
Figure 14 European Offshore Decommissioning Market is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 15 Offshore Decommissioning Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Global Declining Production From Mature Oilfileds
Figure 17 Falling Average Crude Prices Around the Globe, Since 2014
Figure 18 Increasing Investments in Oil & Gas Industry
Figure 19 Offshore Decommissioning Market (Value), By Removal Type 2018
Figure 20 Offshore Decommissioning Market (Value), By Structure, 2018
Figure 21 Offshore Decommissioning Market (Value), By Depth, 2018
Figure 22 Offshore Decommissioning Market (Value), By Removal, 2018
Figure 23 Regional Snapshot: the Offshore Decommissioning Market in Europe is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 24 Offshore Decommissioning Market Share (Value), By Region, 2018
Figure 25 Europe: Regional Snapshot
Figure 26 North America: Regional Snapshot
Figure 27 Key Developments in the Offshore Decommissioning Market, 2016–2019
Figure 28 Competitive Leadership Mapping (Overall Market)
Figure 29 Heerema Marine Contractors Led the Offshore Decommissioning Market in 2018
Figure 30 Halliburton: Company Snapshot
Figure 31 Petrofac: Company Snapshot
Figure 32 Weatherford: Company Snapshot
Figure 33 Schlumberger: Company Snapshot
Figure 34 Subsea 7: Company Snapshot
Figure 35 Technipfmc: Company Snapshot
Figure 36 John Wood Group: Company Snapshot
Figure 37 Ramboll: Company Snapshot
Figure 38 Oceaneering: Company Snapshot
Figure 39 Bhge: Company Snapshot
Figure 40 Royal Dutch Shell: Company Snapshot
Figure 41 Aker Solutions: Company Snapshot
Figure 42 Rever Offshore: Company Snapshot
Figure 43 DNV GL : Company Snapshot
Figure 44 Saipem: Company Snapshot
Figure 45 Heerema Marine Contractors: Company Snapshot
Figure 46 Claxton Engineering Services: Company Snapshot
Figure 47 Deepocean Group: Company Snapshot
Figure 48 Allseas Group: Company Snapshot
Figure 49 Able UK: Company Snapshot
Figure 50 Enermech: Company Snapshot
Figure 51 Mactech: Company Snapshot

This study involved four major activities in estimating the current size of the offshore decommissioning market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as Oil & Gas data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and offshore decommissioning journal to identify and collect information useful for a technical, market-oriented, and commercial study of the offshore decommissioning market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The offshore decommissioning market comprises several stakeholders such as companies related to the industry, consulting companies in the oil & gas sector, oil companies, government & research organizations, organizations, forums, alliances & associations, offshore decommissioning service providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by the decommissioning expenditure across regions, investments by key oil & gas companies, and maturing of oilfields. Moreover, the demand is also driven by a change in rules and regulations and active participation from environmental bodies have pushed the offshore decommissioning market. The supply side is characterized by the contracts & agreements and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Offshore Decommissioning Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global offshore decommissioning market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the offshore decommissioning activities.

Report Objectives

  • To define, describe, and forecast the global offshore decommissioning market by service, removal type, depth, structure, and region, in terms of value
  • To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the offshore decommissioning market
  • To strategically analyze the offshore decommissioning market with respect to individual growth trends, future prospects, and the contribution of each segment to the market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the offshore decommissioning market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
EP 5229
Published ON
Oct, 2019
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