Market Trends of Gulf of Mexico Oil & Gas Decommissioning Industry
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.
Understand The Key Trends Shaping This Market
Download PDF
