Offshore Decommissioning Market Business Segmentation By Revenue And Structure Forecast 2027

 


Offshore Decommissioning includes the safe plugging of the matured and nonproductive wells in the earth’s surface together with the disposal of the offshore oil production equipment. This is a legal condition imposed under the Petroleum Act 1998 of the parliament of the U.K. Decommissioning is a rapidly growing sector in the field of petroleum business, with potential opportunities and few risks. Major drivers of global offshore decommissioning market are infrastructure aging and maturing oilfields especially in North Sea and Gulf of Mexico. Moreover, decline in crude oil prices are estimated to augment growth of the offshore decommissioning market. Risk involved and high cost for decommissioning are some of the factors restraining the global offshore decommissioning market growth.


Furthermore, on the basis of process the Offshore Decommissioning Market is segmented into Project management planning and engineering, permitting compliance regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization & demobilization of derrick barges, mobilization & demobilization of derrick barges, platform removal, pipeline and cable decommissioning, and material disposal site clearance.


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