GCC Shallow Water Decommissioning MarketGCC Shallow Water Decommissioning Market Analysis Report 2024: Market to Grow by a CAGR of 6.74 to 2032, Driven by Government Incentives, Popularity of Virtual Assistants, and Strategic Partnerships
GCC Shallow Water Decommissioning Market by Service (Project Management, Engineering, Planning, Well Plugging, Abandonment, Pipeline, Power Cable Decommissioning, Materials Disposal, Site Clearance, Others), by Structure (Topside, Subsea Infrastructure, Substructure), by GCC (UAE, Saudi Arabia, Qatar) Forecast 2024-2032
Base Year: 2023
120 Pages
GCC Shallow Water Decommissioning Market Analysis Report 2024: Market to Grow by a CAGR of 6.74 to 2032, Driven by Government Incentives, Popularity of Virtual Assistants, and Strategic Partnerships
Key Insights
The GCC Shallow Water Decommissioning Market size was valued at USD 18.80 USD Million in 2023 and is projected to reach USD 29.68 USD Million by 2032, exhibiting a CAGR of 6.74 % during the forecast period. Shallow Water Decommissioning refers to the procedure of the elimination of offshore oil and gas structures in shallow marine areas, that is, areas of less than 500 feet of water depth. Other important factors are ER concerns for the protection of assets, environmental issues, and compliance with regulatory requirements and costs. It can used for removal of platforms and subsea structures, disposal of pipelines and wells, sealing, etc. The ongoing market trends for GCC show that the current decommissioning process is increasing due to the age of infrastructures, high requirements to the environment transition from fossil resources to renewable ones, less harm to the environment, and more opportunities for resource utilization.
GCC Shallow Water Decommissioning Trends
- Increasing offshore activity in the region is fueling the decommissioning market.
- Stringent regulatory frameworks governing environmental protection and safety are driving the adoption of advanced decommissioning techniques.
- The growing focus on cost optimization and efficiency in decommissioning projects is leading to the adoption of innovative technologies and partnerships.
Driving Forces: What's Propelling the GCC Shallow Water Decommissioning Market
- Aging offshore infrastructure, requiring decommissioning to ensure safety and environmental compliance
- Increasing environmental regulations, mandating responsible decommissioning practices to minimize ecological impact
- Technological advancements, enabling efficient and cost-effective decommissioning techniques and equipment
- Cost optimization initiatives, driving operators to seek innovative and cost-saving decommissioning solutions
Challenges and Restraints in GCC Shallow Water Decommissioning Market
- Technical complexity of decommissioning operations
- High costs associated with decommissioning projects
- Lack of skilled workforce
- Environmental concerns
Emerging Trends in GCC Shallow Water Decommissioning
- Automation and robotics
- Digitalization and data analytics
- Integrated decommissioning services
- Sustainable decommissioning practices
Growth Catalysts in GCC Shallow Water Decommissioning Industry
- Government support for decommissioning initiatives
- Increasing awareness of environmental responsibilities
- Advancements in technology and innovation
- Collaborations and partnerships among industry players
Market Segmentation: GCC Shallow Water Decommissioning Analysis
Service
- Project Management
- Engineering and Planning
- Well Plugging and Abandonment
- Pipeline and Power Cable Decommissioning
- Materials Disposal and Site Clearance
- Others
Structure
- Topside
- Subsea Infrastructure
- Substructure
Leading Players in the GCC Shallow Water Decommissioning Market
- Saipem
- MILAHA
- Worley
- Petrofac
- Schlumberger
- Baker Hughes
- Norwell Engineering
- DNV
- Aries Marines
- Aker Solutions
Significant Developments in GCC Shallow Water Decommissioning Sector
- Saipem awarded fresh contracts for offshore decommissioning activities
- Norwell Engineering signs multi-million dollar contract in the UAE
- Motive Offshore partners with Hiretech to bring advanced decommissioning technology to the Middle East
- Saipem confirms additional scope of work for Qatargas' North Field Production Sustainability Offshore Project
- Hanon Systems delivers innovative heat pump equipment to Volkswagen Group for decommissioning projects
Comprehensive Coverage GCC Shallow Water Decommissioning Market Report
The report provides a comprehensive analysis of the GCC Shallow Water Decommissioning Market, covering key aspects such as market size, trends, drivers, challenges, segmentation, competitive landscape, and industry developments.
Regional Insight
The GCC Shallow Water Decommissioning Market report provides in-depth analysis of the following regions:
- Saudi Arabia: Leading the market due to its extensive offshore infrastructure and ongoing decommissioning projects
- United Arab Emirates: Significant contributor with a growing number of offshore platforms nearing decommissioning
- Qatar: Key player with ambitious expansion plans and a focus on responsible decommissioning practices
- Kuwait: Growing market with a diverse range of offshore assets and upcoming decommissioning projects
- Oman: Emerging market with significant potential due to its offshore oil and gas exploration and production activities
- Bahrain: Smaller market with a focus on optimizing decommissioning costs and minimizing environmental impact
Technology Analysis
The report provides an in-depth analysis of the key technologies used in GCC shallow water decommissioning, including:
- Remotely operated vehicles (ROVs)
- Subsea cutting and removal tools
- Explosives
- Hyperbaric welding
GCC Shallow Water Decommissioning Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 6.74% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Growing Mature Field Count to Drive Market Growth
- 3.3. Market Restrains
- 3.3.1. High Cost of Offshore Decommission Services Is Hindering the Market Growth
- 3.4. Market Trends
- 3.4.1. Renewable Energy Transition in GCC is a Latest Trend
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Service
- 5.1.1. Project Management
- 5.1.2. Engineering
- 5.1.3. Planning
- 5.1.4. Well Plugging
- 5.1.5. Abandonment
- 5.1.6. Pipeline
- 5.1.7. Power Cable Decommissioning
- 5.1.8. Materials Disposal
- 5.1.9. Site Clearance
- 5.1.10. Others
- 5.2. Market Analysis, Insights and Forecast - by Structure
- 5.2.1. Topside
- 5.2.2. Subsea Infrastructure
- 5.2.3. Substructure
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. GCC
- 5.1. Market Analysis, Insights and Forecast - by Service
- 6. UAE GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Service
- 6.1.1 Project Management
- 6.1.2 Engineering and Planning
- 6.1.3 Well Plugging and Abandonment
- 6.1.4 Pipeline and Power Cable Decommissioning
- 6.1.5 Materials Disposal and Site Clearance
- 6.1.6 Others
- 6.2. Market Analysis, Insights and Forecast - By Structure
- 6.2.1 Topside
- 6.2.2 Subsea Infrastructure
- 6.2.3 Substructure
- 7. Saudi Arabia GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Service
- 7.1.1 Project Management
- 7.1.2 Engineering and Planning
- 7.1.3 Well Plugging and Abandonment
- 7.1.4 Pipeline and Power Cable Decommissioning
- 7.1.5 Materials Disposal and Site Clearance
- 7.1.6 Others
- 7.2. Market Analysis, Insights and Forecast - By Structure
- 7.2.1 Topside
- 7.2.2 Subsea Infrastructure
- 7.2.3 Substructure
- 8. Qatar GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Service
- 8.1.1 Project Management
- 8.1.2 Engineering and Planning
- 8.1.3 Well Plugging and Abandonment
- 8.1.4 Pipeline and Power Cable Decommissioning
- 8.1.5 Materials Disposal and Site Clearance
- 8.1.6 Others
- 8.2. Market Analysis, Insights and Forecast - By Structure
- 8.2.1 Topside
- 8.2.2 Subsea Infrastructure
- 8.2.3 Substructure
- 9. Oman GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Service
- 9.1.1 Project Management
- 9.1.2 Engineering and Planning
- 9.1.3 Well Plugging and Abandonment
- 9.1.4 Pipeline and Power Cable Decommissioning
- 9.1.5 Materials Disposal and Site Clearance
- 9.1.6 Others
- 9.2. Market Analysis, Insights and Forecast - By Structure
- 9.2.1 Topside
- 9.2.2 Subsea Infrastructure
- 9.2.3 Substructure
- 10. Bahrain GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Service
- 10.1.1 Project Management
- 10.1.2 Engineering and Planning
- 10.1.3 Well Plugging and Abandonment
- 10.1.4 Pipeline and Power Cable Decommissioning
- 10.1.5 Materials Disposal and Site Clearance
- 10.1.6 Others
- 10.2. Market Analysis, Insights and Forecast - By Structure
- 10.2.1 Topside
- 10.2.2 Subsea Infrastructure
- 10.2.3 Substructure
- 11. Kuwait GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 11.1. Market Analysis, Insights and Forecast - By Service
- 11.1.1 Project Management
- 11.1.2 Engineering and Planning
- 11.1.3 Well Plugging and Abandonment
- 11.1.4 Pipeline and Power Cable Decommissioning
- 11.1.5 Materials Disposal and Site Clearance
- 11.1.6 Others
- 11.2. Market Analysis, Insights and Forecast - By Structure
- 11.2.1 Topside
- 11.2.2 Subsea Infrastructure
- 11.2.3 Substructure
- 12. Rest of GCC GCC Shallow Water Decommissioning Market Analysis, Insights and Forecast, 2018-2030
- 12.1. Market Analysis, Insights and Forecast - By Service
- 12.1.1 Project Management
- 12.1.2 Engineering and Planning
- 12.1.3 Well Plugging and Abandonment
- 12.1.4 Pipeline and Power Cable Decommissioning
- 12.1.5 Materials Disposal and Site Clearance
- 12.1.6 Others
- 12.2. Market Analysis, Insights and Forecast - By Structure
- 12.2.1 Topside
- 12.2.2 Subsea Infrastructure
- 12.2.3 Substructure
- 13. Competitive Analysis
- 13.1. Market Share Analysis 2023
- 13.2. Company Profiles
- 13.2.1 Saipem (Italy)
- 13.2.1.1. Overview
- 13.2.1.2. Products
- 13.2.1.3. SWOT Analysis
- 13.2.1.4. Recent Developments
- 13.2.1.5. Financials (Based on Availability)
- 13.2.2 MILAHA (Qatar)
- 13.2.2.1. Overview
- 13.2.2.2. Products
- 13.2.2.3. SWOT Analysis
- 13.2.2.4. Recent Developments
- 13.2.2.5. Financials (Based on Availability)
- 13.2.3 Worley (Australia)
- 13.2.3.1. Overview
- 13.2.3.2. Products
- 13.2.3.3. SWOT Analysis
- 13.2.3.4. Recent Developments
- 13.2.3.5. Financials (Based on Availability)
- 13.2.4 Petrofac (Jersey)
- 13.2.4.1. Overview
- 13.2.4.2. Products
- 13.2.4.3. SWOT Analysis
- 13.2.4.4. Recent Developments
- 13.2.4.5. Financials (Based on Availability)
- 13.2.5 Schlumberger (U.S.)
- 13.2.5.1. Overview
- 13.2.5.2. Products
- 13.2.5.3. SWOT Analysis
- 13.2.5.4. Recent Developments
- 13.2.5.5. Financials (Based on Availability)
- 13.2.6 Baker Hughes (U.S.)
- 13.2.6.1. Overview
- 13.2.6.2. Products
- 13.2.6.3. SWOT Analysis
- 13.2.6.4. Recent Developments
- 13.2.6.5. Financials (Based on Availability)
- 13.2.7 Norwell Engineering (Scotland)
- 13.2.7.1. Overview
- 13.2.7.2. Products
- 13.2.7.3. SWOT Analysis
- 13.2.7.4. Recent Developments
- 13.2.7.5. Financials (Based on Availability)
- 13.2.8 DNV (Norway)
- 13.2.8.1. Overview
- 13.2.8.2. Products
- 13.2.8.3. SWOT Analysis
- 13.2.8.4. Recent Developments
- 13.2.8.5. Financials (Based on Availability)
- 13.2.9 Aries Marines (UAE)
- 13.2.9.1. Overview
- 13.2.9.2. Products
- 13.2.9.3. SWOT Analysis
- 13.2.9.4. Recent Developments
- 13.2.9.5. Financials (Based on Availability)
- 13.2.10 Aker Solutions (Norway)
- 13.2.10.1. Overview
- 13.2.10.2. Products
- 13.2.10.3. SWOT Analysis
- 13.2.10.4. Recent Developments
- 13.2.10.5. Financials (Based on Availability)
- 13.2.1 Saipem (Italy)
List of Figures
- Figure 1: GCC Shallow Water Decommissioning Market Revenue Breakdown (USD Million, %) by Product 2023 & 2031
- Figure 2: GCC Shallow Water Decommissioning Market Value Share (%), by Service 2023 & 2031
- Figure 3: GCC Shallow Water Decommissioning Market Value Share (%), by Structure 2023 & 2031
- Figure 4: GCC Shallow Water Decommissioning Market Share (%) by Company 2023
List of Tables
- Table 1: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Service 2018 & 2031
- Table 2: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Structure 2018 & 2031
- Table 3: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Region 2018 & 2031
- Table 4: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Service 2018 & 2031
- Table 5: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Structure 2018 & 2031
- Table 6: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Region 2018 & 2031
- Table 7: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Service 2018 & 2031
- Table 8: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Structure 2018 & 2031
- Table 9: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 10: UAE GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 11: Saudi Arabia GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 12: Qatar GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 13: Oman GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 14: Bahrain GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 15: Kuwait GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 16: Rest of GCC GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 17: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Service 2018 & 2031
- Table 18: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Structure 2018 & 2031
- Table 19: GCC Shallow Water Decommissioning Market Revenue USD Million Forecast, by Country 2018 & 2031
- Table 20: UAE GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 21: Saudi Arabia GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
- Table 22: Qatar GCC Shallow Water Decommissioning Market Revenue (USD Million) Forecast, by Application 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 6.74% from 2018-2032 |
| Segmentation |
|
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