Offshore Oil & Gas Decommissioning) Market Will See A Capital Expenditure (Capex) Of $6,551.9 Mn In 2018

06 August 2018
Energy

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.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

About visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

“Grid-Scale Battery Storage Technolgies market worth $2,130 million in 2019” says Visiongain report as the increase in use of renewable energy such as solar and wind because this technology requires storage facilities for any excess electricity generated while operational

The demand of grid-scale battery storage technologies is expected to increase in the coming years owing to the increase energy prices, rising demand of renewable energy integration, and growth of the electric vehicle market.

06 June 2019

Read

“The Geothermal Power market will see a capital expenditure (Capex) of $7,256mn in 2019 as the world seeks out sustainable and reliable clean energy to meet their emissions reductions targets”

Geothermal is expected to witness substantial growth over the next decade and beyond as governments aim to meet their emissions reductions targets while maintaining a stable and reliable source of energy for their electricity networks.

23 May 2019

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever