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Gulf of Mexico Oil & Gas Decommissioning Market - Growth, Trends, and Forecast (2020 - 2025)
The market is segmented by Water Depth (Shallow Water, Deepwater), and Geography
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2017-2024
Base Year:
2019
Major Players:
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Market Overview
The market for Gulf of Mexico oil & gas decommissioning is expected to grow at a CAGR of approximately 6.89% during the forecast period of 2019 – 2024. 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 2019-2024 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.
Scope of the Report
The Gulf of Mexico oil & gas decommissioning market include:
| Water Depth | |
| Shallow Water | |
| Deepwater |
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Key Market Trends
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.
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Competitive Landscape
The Gulf of Mexico oil & gas decommissioning market is fragmented. The major companies include Proserv Group Inc., Ramboll Group, TETRA Technologies, Inc., Ardent, and Superior Energy Services, Inc.
Table Of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2024
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Water Depth
5.1.1 Shallow Water
5.1.2 Deepwater
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Key Company Profiles
6.3.1 Operators
6.3.1.1 Anadarko Petroleum Corporation
6.3.1.2 Apache Corporation
6.3.1.3 BP P.L.C.
6.3.1.4 Chevron Corporation
6.3.1.5 Exxon Mobil Corporation
6.3.2 Service Companies
6.3.2.1 Proserv Group Inc.
6.3.2.2 Ramboll Group
6.3.2.3 TETRA Technologies, Inc.
6.3.2.4 Offshore Specialty Fabricators, Inc.
6.3.2.5 Superior Energy Services, Inc.
6.3.2.6 Ardent Global LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
* List Not Exhaustive
** Subject to Availability
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