Well Abandonment Services Market Forecasts to 2028 – Global Analysis By Product (Shut In, Temporarily Abandoned), Removal (Partial, Complete), Depth (Deep Water, Shallow Water), Application (Onshore, Offshore) and By Geography
According to Stratistics MRC, the Global Well Abandonment Services Market is accounted for $1.19 billion in 2020 and is expected to reach $2.04 billion by 2028 growing at a CAGR of 7.0% during the forecast period. Maturing oil and gas fields, the emergence of rigless well abandonment techniques, and multiple advancements in the domain of well-management and control are propelling the market growth. However, the lack of technology infrastructure and regulatory monitoring are hampering the growth of the market.
Well abandonment is a natural part of the oilfield lifecycle. Well abandonment services provide an integrated solution for safe decommissioning of matured and non-productive oil & gas platforms and subsea infrastructures. This eliminates the ongoing costs of maintaining such oil wells and provides a guard against potential liabilities.
Based on the removal type, the complete removal segment is going to have lucrative growth during the forecast period owing to the stringent regulations for complete offshore platform removal to restore the marine life and seafloor to its pre-production conditions. By geography, Europe is going to have high growth during the forecast period due to the rising interests of governments towards decommissioning projects along with aging mature fields in the region and extensive decommissioning activities of offshore oil and gas platforms.
Some of the key players profiled in the Well Abandonment Services Market include Weatherford International, Tetra Technologies, Inc., AF Gruppen, Schlumberger, Ramboll, Oceaneering International, Aker Solutions, Halliburton, Expro, Baker Hughes, John Wood Group, Acteon Group and TechnipFMC.
• Permitting & Regulatory Compliance
• Well Plugging & Abandonment
• Site Clearance
• Pipeline & Power Cable Decommissioning
• Materials Disposal
Product Types Covered:
• Shut In
• Temporarily Abandoned
Removal Types Covered:
• Partial Removal
• Leave In Place
• Complete Removal
• Deep Water
• Shallow Water
• Sub Infrastructure
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Supply chain trends mapping the latest technological advancements
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