Offshore Decommissioning Market Growth Accelerated by Reusing and Recycling of Materials

Offshore Decommissioning Market


Offshore decommissioning involves removing aging oil and gas platforms and other offshore structures from operation once production has ceased. It involves activities such as plugging and abandoning wells, disconnecting pipelines, removing towers, living quarters and other structures. Decommissioning offers products such as reuse and recycling of materials which helps reduce costs associated with projects and has minimal impact on the environment.

The global Offshore Decommissioning Market is estimated to be valued at US$ 7.07 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Reusing and recycling materials recovered from decommissioning operations is one of the major trends in the offshore decommissioning market. It helps to reduce project costs significantly as repurposed materials can be resold rather than sending them to landfill. According to studies, up to 70-80% of the structure from decommissioned assets can potentially be recycled. Companies are increasingly focusing on finding reuse options like converting topsides into artificial reefs or using jacket structures for wind farms. For example, in 2022, Norway-based AF Decom completed reusing concrete structure from a decommissioned platform to form an artificial reef in the North Sea, which helped lower project costs by 20%.

Segment Analysis
The global offshore decommissioning market is dominated by the topside segment. The topside decommissioning involves removing and disposing of equipment that sits above the sea floor, such as production platforms, pipelines and wells. It is the most expensive part of decommissioning activities due to the complexity involved in removing very large steel and concrete structures. Advance planning and engineering is required to dismantle topsides safely.

Key Takeaways
Global Offshore Decommissioning Market Size is expected to witness high growth. The global Offshore Decommissioning Market is estimated to be valued at US$ 7.07 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.

The offshore decommissioning market is projected to grow the fastest in Europe during the forecast period. This is mainly attributed to the high number of aging offshore oil & gas assets in the North Sea region that will soon reach the end of their production life. Countries such as the UK, Norway and Netherlands are expected to spearhead the decommissioning activities in Europe.


Key players operating in the offshore decommissioning market are GlaxoSmithKline Plc., Sanofi SA, Bharat Biotech, Bio-Med Pvt. Ltd., PT Bio Farma, PaxVax, Inc. Shanghai Institute of Biological Products Co., Ltd., and Prokarium. 

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