Gulf of Mexico Oil & Gas Decommissioning Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 6.89 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gulf of Mexico Oil & Gas Decommissioning Market Analysis
The market for Gulf of Mexico oil & gas decommissioning is expected to grow at a CAGR of approximately 6.89% during 2020 - 2025. Demand for the offshore decommissioning services in the Gulf of Mexico (GoM) is primarily driven by the maturing production fields, aging offshore platform infrastructure, and damaged platforms and pipelines due to hurricanes and other windstorms, among other factors. However, deteriorating infrastructure, late-life technical limits and regulatory pressure, has led mature basin operators to focus on the expensive and technically complicated challenge of decommissioning.
- The decommissioning market in shallow waters holds the largest market in recent years. But, the deepwater regions is expected to grow faster during 2020-2025, as the number of potential projects available in shallow waters is drying up.
- Deepwater projects are subject to greater levels of regulatory scrutiny and require specialized heavy-lift vessels to remove topsides. The unit cost to decommission deepwater projects is much greater, due to operational complexity and increased spread rates for marine vessels. The shift toward decommissioning deepwater facilities will present a range of new opportunities, as well as challenges for companies.
Gulf of Mexico Oil & Gas Decommissioning Market Trends
This section covers the major market trends shaping the Gulf of Mexico Oil & Gas Decommissioning Market according to our research experts:
Deepwater to Register Highest Growth Rate
- The deepwater decommissioning segment is in better shape, significant growth of decommissioning in these waters remains unlikely in the foreseeable future.
- Deepwater projects require adherence to more stringent safety regulations and more investment in the form of purpose-built vessels. The equipment typically used for shallow water operations cannot be transferred for use in a deepwater environment. With the development of the deepwater market, the demand for new technologies, which reduce costs and provide better safety, is expected to grow exponentially.
- Therefore, deepwater decommissioning has better prospects during the forecast period, with the increase in oil prices and the development of affordable technologies, crucial to enabling the next phase in offshore removals and abandonment in the United States.
Gulf of Mexico Oil & Gas Decommissioning Industry Overview
The Gulf of Mexico oil & gas decommissioning market is fragmented. The major companies include Proserv Group Inc., Ramboll Group, Ardent and TETRA Technologies, Inc.
Gulf of Mexico Oil & Gas Decommissioning Market Leaders
Proserv Group Inc.
Ramboll Group
TETRA Technologies, Inc.
Ardent Global LLC
*Disclaimer: Major Players sorted in no particular order
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Gulf of Mexico Oil & Gas Decommissioning Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
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4.7.1 Bargaining Power of Suppliers
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4.7.2 Bargaining Power of Consumers
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4.7.3 Threat of New Entrants
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4.7.4 Threat of Substitutes Products and Services
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4.7.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Water Depth
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5.1.1 Shallow Water
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5.1.2 Deepwater
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Key Company Profiles
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6.3.1 Operators
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6.3.1.1 Anadarko Petroleum Corporation
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6.3.1.2 Apache Corporation
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6.3.1.3 BP P.L.C.
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6.3.1.4 Chevron Corporation
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6.3.1.5 Exxon Mobil Corporation
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6.3.2 Service Companies
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6.3.2.1 Proserv Group Inc.
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6.3.2.2 Ramboll Group
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6.3.2.3 TETRA Technologies, Inc.
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6.3.2.4 Ardent Global LLC
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Gulf of Mexico Oil & Gas Decommissioning Industry Segmentation
The Gulf of Mexico oil & gas decommissioning market report include:
| Water Depth | |
| Shallow Water | |
| Deepwater |
Gulf of Mexico Oil & Gas Decommissioning Market Research FAQs
What is the current Gulf of Mexico Oil & Gas Decommissioning Market size?
The Gulf of Mexico Oil & Gas Decommissioning Market is projected to register a CAGR of less than 6.89% during the forecast period (2024-2029)
Who are the key players in Gulf of Mexico Oil & Gas Decommissioning Market?
Proserv Group Inc., Ramboll Group, TETRA Technologies, Inc. and Ardent Global LLC are the major companies operating in the Gulf of Mexico Oil & Gas Decommissioning Market.
What years does this Gulf of Mexico Oil & Gas Decommissioning Market cover?
The report covers the Gulf of Mexico Oil & Gas Decommissioning Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Gulf of Mexico Oil & Gas Decommissioning Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Gulf of Mexico Oil & Gas Decommissioning Industry Report
Statistics for the 2024 Gulf of Mexico Oil & Gas Decommissioning market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gulf of Mexico Oil & Gas Decommissioning analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
