06 August 2018
Visiongain’ has launched a new energy report The Offshore Oil & Gas Decommissioning Market Forecasts 2018-2028: Forecast & Analysis by Type (Well Plugging and Abandonment, Jacket and Topsides Removal, and Others) AND By Region Plus Profiles of Leading Companies in the Oil & Gas Decommissioning Market
One of the major challenges faced by the oil and gas industry worldwide is the prevalence of low oil prices. Low oil prices worldwide have negatively affected the oil and gas industry
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.
The visiongain report analyst commented, “The global decommissioning market was set to grow, even before the prices of oil and gas started to fall owing to ageing of offshore infrastructure and increasingly stringent regulations drive investment, particularly in the North Sea and the Gulf of Mexico.”
Leading companies featured in the report who are developing Offshore Oil & Gas Decommissioning facilities include Apache Corporation, BP, Canadian Natural Resources (CNR), Chevron Corporation, ConocoPhillips, Eni, ExxonMobil Corporation, Petronas, PTTEP Australasia, Royal Dutch Shell, Statoil &Total S.A.
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