DUBLIN--(BUSINESS WIRE)--The "Global Well Abandonment Services Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The well abandonment services market will register a CAGR of close to 5% by 2023.
The regulatory requirements for well abandonment is one of the key factors anticipated to drive the well abandonment services market growth during the forecast period.
Countries are ensuring that abandoned wells do not affect the environment adversely. Some governments are mandating leak tests by the application of differential pressure for proving that the plug is holding strong. As a result, rising initiatives from the governments across the globe for well abandonment will foster the well abandonment services market growth during the forecast period.
Maturing oil and gas fields
One of the growth drivers of the global well abandonment services market is the maturing oil and gas fields. The increase in the number of aging oil fields is likely to increase well-decommissioning activities, which, in turn, will drive the growth of the global well abandonment services market during the forecast period.
Use of EOR
One of the challenges in the growth of the global well abandonment services market is the use of EOR. EOR methods increase the production of oil from aging wells, using these methods will delay or postpone the decommissioning of aging wells, which will impede the growth of the market.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. Operators in the GoM and the North Sea are increasingly focusing on offshore decommissioning due to increasingly restrictive regulations and the rising associated cost of maintaining and operating aging platforms.
This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
- Baker Hughes, a GE company LLC
- Halliburton
- Schlumberger Limited
- TechnipFMC plc
- Weatherford
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Offshore - Market size and forecast 2018-2023
- Onshore - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- Europe - Market size and forecast 2018-2023
- Americas - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Emergence of rig less well abandonment techniques
- Advances in post-abandonment monitoring systems and use of single lift in decommissioning
- Conversion of decommissioned oil and gas platforms to offshore wind farms
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Baker Hughes, a GE company LLC
- Halliburton
- Schlumberger Limited
- TechnipFMC plc
- Weatherford
For more information about this report visit https://www.researchandmarkets.com/r/suogm1
