Offshore Oil & Gas Decommission Market Capital Expenditure to amount to over $7,000 million come 2019
According to the Offshore Oil & Gas Decommissioning Market Forecasts 2019 to 2029, the market will spend a capital expenditure $7,076 million. That only means that there are quite a number of business opportunities that the market offers. Fortunately, the report covers that and much more.
When it comes to the offshore oil and gas industry, the most booming sector is the decommissioning one. That’s because the fields keep maturing which leads to a need to remove those aging structures. As a result of that, the decommissioning demand keeps rising. After all, the average lifetime of a field regardless of whether it is for offshore oil or gas is between 25 years and 40 years and not many of the existing ones have not been in existence for lesser than that period.
As far as the decommissioning cost is concerned, it depends on a particular project. Another determining factor is the coast. Some costs associated with the same are well P&A, topside, jacket as well as subsea structure removal phases. But generally, such projects are complex, takes a relatively long time and will mean you are digging deep into the pocket. In addition to that, decommissioning is a process that has quite a number of stages. That would explain why it can take up to 10 years to complete one particular task.
As a result of many pressures whether environmental, economic or social, the market forecast shows that an increase will be registered over the next few years. The forecasts have been segmented by type and region as follows.
Forecast of the Global Offshore Oil & Gas Decommissioning Market by Type
- Jackside & Topside Removal CAPEX 2019-2029
- Well P&A CAPEX 2019-2029
- Others CAPEX 2019-2029
Forecast of the Global Offshore Oil & Gas Decommissioning Market by Regions
- Asia-Pacific CAPEX 2019-2029
- Gulf of Mexico and North America CAPEX 2019-2029
- North Sea CAPEX 2019-2029
- Rest of the World CAPEX 2019-2029
Leading Companies in the Global Offshore Oil & Gas Decommissioning Market
- Companies with Offshore Assets
- Decommissioning Contractors
- Decommissioning Consultancies
Key Players in the Global Offshore Oil & Gas Decommissioning Market
- BP Plc
- Canadian Natural Resources
- Chevron Corporation
- ExxonMobil Corporation
- Royal Dutch Shell Plc
- Total S.A
In addition to discussing the growth of this market, the report also discusses the evolution of the same. Clearly, it also discusses the ups and downs of the industry. It has profiles of the companies that are doing well in global offshore oil & gas market hence one can learn a thing or two about what they can do to become better.