Offshore Decommissioning markets and trends
The offshore decommissioning industry has been around for a long time, activity has increased significantly over the last 10 years and is expected to grow further over the next 10 years. This has put offshore decommissioning as an area of focus for the oil and gas industry and their stakeholders.
So, what is driving this trend? With the decline in oil and gas prices since 2014 and as oil and gas are not renewable energy sources, there is an increasing number of offshore fields that will be depleted or reaching the end of economic life by 2030. While offshore investments, representing 36% of total E&P spending in 2021, has an uncertain trend up to 2030 due to energy transition, annual decom growth is expected to be 10% in the coming 10 years.
Join us for the offshore decommissioning webinar where we will discuss factors affecting future demand trends globally, regionally and in key markets, and key demand questions such as:
- When will a field end production?
- How much will decommissioning spending be?
- How will decommissioning cost be distributed on plug & abandonment of wells, platform removals and other relevant cost categories?
The ON24 specifications can be found here:
Consulting Associate Director, Upstream Energy, IHS Markit
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