Global Offshore Oil and Gas Decommissioning Market Outlook to 2028

Global Offshore Oil and Gas Decommissioning Market Outlook to 2028

The rising deep-water oil and gas production activities coupled with stringent environmental regulation, rising mature oil and gas fields, aging offshore infrastructure, and growing technological advancements are some of the significant factors driving the growth of offshore oil and gas decommissioning market.

However, with the outbreak of covid-19 oil prices hit all time low and drop in oil demand led to decreased exploration and production expenditure in the upstream oil & gas industry, causing a slowdown in decommissioning market.

Decommissioning offshore oil and gas facilities is the process of removing the infrastructure and equipment used in the exploration and production of oil and gas in the marine environment. The offshore infrastructure includes pipelines, wellheads, platforms, artificial islands, and power cables.

In Europe, the North Sea region is projected to drive the market during the forecasted period, owing to stringent regulations along with rising environmental awareness.

In North America, the Gulf of Mexico region is expected to experience a large number of oil and gas platforms being decommissioned over the next 10 years and drive the growth of the global offshore oil and gas decommissioning market over the forecast period.

Blackridge Research's Global Offshore Oil and Gas Decommissioning Market report provides deep insights into the market's current and future growth outlook. The study offers a detailed analysis of various factors instrumental in affecting the offshore oil and gas decommissioning market’s growth.

The report also addresses present and future market opportunities, market trends, developments, important commercial developments, regions, and segments poised for the fastest-growth, competitive landscape, and impact of Covid-19 on the market.
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