Denmark Offshore Oil And Gas Decommissioning Market Size (2024 - 2029)

The Denmark offshore oil and gas decommissioning market is poised for growth, driven by the maturation of offshore fields and the increasing focus on decommissioning aging wells. Despite challenges such as the impact of COVID-19, fluctuating oil prices, and a shift towards renewable energy in the European Union, the market has rebounded to pre-pandemic levels. The rising costs and stringent regulations associated with operating aging platforms are prompting operators to prioritize decommissioning efforts, contributing to the expansion of the market size.

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Market Size of Denmark Offshore Oil And Gas Decommissioning Industry

Denmark Offshore Oil And Gas Decommissioning Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration High

Major Players

Denmark Offshore Oil And Gas Decommissioning Market Major Players

*Disclaimer: Major Players sorted in no particular order

Denmark Offshore Oil And Gas Decommissioning Market Analysis

During the time frame of the forecast, Denmark's offshore oil and gas decommissioning market is expected to register a CAGR of more than 6%.

The market was negatively impacted by the outbreak of COVID-19, the crash in the crude oil price, and regional lockdowns. Currently, the market has recovered to pre-pandemic levels.

  • The maturing offshore fields and aging wells are moving towards the dry phase, driving the market for well decommissioning. With the increase in restrictive regulations and the rising associated cost of operating aging platforms, the focus of operators on offshore decommissioning is increasing at a significant rate.
  • On the other hand, the volatile nature of oil prices in recent years led to decreased capital expenditure in the upstream oil and gas industry, causing a slowdown in the market studied.
  • The share of oil and gas is going down because the European Union is moving toward renewable energy. Additionally, in the future, deepwater fields are expected to undergo a dry phase. With these opportunities, the decommissioning market is expected to grow.

Denmark Offshore Oil And Gas Decommissioning Industry Segmentation

Decommissioning is the process of putting an offshore platform's offshore oil and gas operations to an end and restoring the ocean and seafloor to what they were before the lease. The Danish offshore oil and gas decommissioning market is segmented by water depth and operation. By water depth, the market is segmented into shallow water, deep water, and ultra-deep water. By operation, the market is segmented into plug and abandonment, topside substructure, subsea infrastructure removal, and others. The report also covers the size and forecasts of the offshore oil and gas decommissioning market. The installed capacity and forecasts for each segment have been done in revenue (USD million).

Water Depth
Shallow Water
Deepwater and Ultra-Deepwater
Operation
Plug and Abandonment
Topside Substructure and Subsea Infrastructure Removal
Other Operations
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Denmark Offshore Oil And Gas Decommissioning Market Size Summary

The Danish offshore oil and gas decommissioning market is poised for significant growth, driven by the maturation of offshore fields and the aging of wells, which are increasingly entering the dry phase. This trend is further accelerated by stringent regulations and rising operational costs associated with aging platforms, prompting operators to focus more on decommissioning activities. Despite the challenges posed by volatile oil prices and a shift towards renewable energy within the European Union, the market is recovering from the setbacks of the COVID-19 pandemic and the crude oil price crash. The demand for decommissioning services is expected to rise, particularly in shallow waters, as a substantial number of platforms and wells reach the end of their operational lives.

The well-plugging and abandonment segment is anticipated to dominate the market, underscoring its critical role in preventing leaks post-production cessation. Initiatives such as the Danish Hydrocarbon Research & Technology Center's new program on field abandonment and collaborations like that of Maersk Drilling and Maersk Supply Service highlight the industry's proactive approach to decommissioning. The market is characterized by a consolidated landscape with key players such as Bureau Veritas SA, AF Gruppen ASA, A.P. Moeller Maersk A/S, and Saipem S.p.A. actively participating. Recent contracts, like the one awarded to ABL Group by TotalEnergies SE, further illustrate the ongoing demand and strategic importance of decommissioning services in Denmark's offshore oil and gas sector.

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Denmark Offshore Oil And Gas Decommissioning Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Water Depth

      1. 2.1.1 Shallow Water

      2. 2.1.2 Deepwater and Ultra-Deepwater

    2. 2.2 Operation

      1. 2.2.1 Plug and Abandonment

      2. 2.2.2 Topside Substructure and Subsea Infrastructure Removal

      3. 2.2.3 Other Operations

Denmark Offshore Oil And Gas Decommissioning Market Size FAQs

The Denmark Offshore Oil And Gas Decommissioning Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Aker Solutions ASA , Bureau Veritas SA, Saipem S.p.A. , AF Gruppen ASA and AP Moeller Maersk A/S are the major companies operating in the Denmark Offshore Oil And Gas Decommissioning Market.

Denmark Offshore Oil And Gas Decommissioning Market Report Snapshots

Denmark Offshore Oil and Gas Decommissioning Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)