Although an average of USD 300 billion a year is being spent exploring for and developing oil and gas reserves in the world, over the next couple of decades or so, there will be a growing number of redundant oil and gas installations taken out of service or to be decommissioned. A strict legal framework of national, regional and international regulations governs how disused offshore facilities are decommissioned.
According to a few Notices to Lessees and Operators, effective from Oct. 15, 2010 in popular regions like Gulf of Mexico, platforms and supporting infrastructure that have been idle for five or more years must be removed within 5 years from the date of last usage. The major trends driving the Oil and gas decommissioning market are ageing oil reserves and abandoned wells. North America is the leading market for Decommissioning, with USA being major market in the region because of its maturing oil reserves in its Gulf of Mexico region
In the past two years, flat oil prices and rising costs have contributed to declining cash flow for this group of companies. Continued declines in cash flow, particularly in the face of rising debt levels, could challenge future not only the exploration and development but also the decommissioning operations. However, the decommissioning process remains mandatory, as the abandoned structures and wells can be damaged in a hurricane and cause an environmental disaster. Also, the platforms and wells cost more to decommission once they are damaged.
This report extensively analyzes the Global offshore decommissioning of Oil and gas installations market by segmenting it based on Gulf of Mexico region, by decommissioning services or the activities (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), and by areas of application (shallow water and deep water areas). Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.
2. Research Methodology
3. Gulf of Mexico Oil & Gas Decommissioning Market Overview
3.2 Market Size and Demand Forecast Until 2023
3.3 Recent Trends and Developments
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Products and Services
6.5 Competitive Rivalry
7. Gulf of Mexico Oil & Gas Decommissioning Market Analysis, by Depth
7.1 Shallow Water
7.1.2 Market Size and Demand Forecast Until 2023
7.2.2 Market Size and Demand Forecast Until 2023
8. Key Company Profiles (Overview, Products and Services, Financials** and Recent Developments)
8.1.1 Anadarko Petroleum Corporation
8.1.2 Apache Corporation
8.1.3 Bp P.L.C.
8.1.4 Chevron Corporation
8.1.5 Exxon Mobil Corporation
8.1.6 Murphy Oil Corporation
8.1.7 Noble Energy, Inc.
8.1.8 Royal Dutch Shell Plc
8.1.9 Stone Energy Corporation
8.1.10 Talos Energy Llc
8.2 Service Companies
8.2.1 Proserv Group Inc.
8.2.2 Ramboll Group
8.2.3 Tetra Technologies, Inc.
8.2.4 Offshore Specialty Fabricators, Inc.
8.2.5 Superior Energy Services, Inc.
*(List is Not Exhaustive)
9. Competitive Landscape
9.1 Mergers & Acquisitions
9.2 Joint Ventures, Collaborations and Agreements
**Subject to Availability on Public Domain
- Anadarko Petroleum Corporation
- Apache Corporation Bp P.L.C.
- Chevron Corporation
- Exxon Mobil Corporation
- Murphy Oil Corporation
- Noble Energy Inc.
- Royal Dutch Shell Plc
- Stone Energy Corporation
- Talos Energy Llc
- Proserv Group Inc.
- Ramboll Group
- Tetra Technologies Inc.
- Offshore Specialty Fabricators Inc.
- Superior Energy Services Inc.