Friday, 5 February 2016

Global Oil & Gas Vessel Decommissioning Market: Market to Gain Impetus from Rise in Offshore Explorations

A new market research report by Transparency Market Research, titled “Oil & Gas Vessel Decommissioning Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 - 2023”, offers a detailed analysis of the growth of the oil and gas vessel decommissioning market across the globe. The report projects the valuation and size of the market by the end of the forecast period. The global oil and gas vessel decommissioning market has been studied on the basis of decommissioning procedures and geographical regions. Describing competitive landscape, the report profiles some of the prominent players in the market.

Complete Report Oil & Gas Vessel Decommissioning Market with TOC :

Oil and gas vessel decommissioning is done for the safety of a fleet. Years after a commissioned shipping vessel becomes too obsolete, it can be removed from the operating fleet. A number of factors determine the decommissioning of a vessel such as the economic viability of repairing a damaged vessel. Rise in offshore exploration has led to several new oil and gas discoveries. But negative environmental impact due to non-functioning oil and gas platforms has propelled the demand for marine vessel decommissioning. Stringent environmental regulations, coupled with heavy penalties imposed by governments across the globe on oil exploration and production companies for any negligence, has boosted the growth of the global oil and gas vessel decommissioning market.

The report studies the global oil and vessel decommissioning market on the basis of decommissioning procedures. There are a number of vessel decommissioning processes such as equipment and topside decommissioning, and substructure decommissioning depending on the operating weather conditions, vessel capacity, construction, and the type of product handled by a vessel. While substructure decommissioning refers to total or partial removal of the substructure from the vessel, topside decommissioning involves reuse and recycling of the equipment and other parts of the vessel. The total decommissioning process is the most preferred method where each and every asset is removed from the vessel. Partial decommissioning is performed where the vessel is too complicated to dismantle.

The report segments the global oil and gas vessel decommissioning market into four key regions: Asia Pacific, North America, Europe, and Rest of the World. The regional segmentation of the market has been done by identifying the major ports where decommissioning is primarily performed. In North America, the major offshore areas are around the United States, Mexico, and Canada. Offshore areas around Indonesia, China, and Malaysia form part of the Asia Pacific region in the globa oil and gas vessel decommissioning market.

The report profiles some of the prominent players in the global oil and gas vessel decommissioning market such as PSN Limited, Wood Group, AMEC, Derrick Services (UK) Ltd., TSB Offshore Inc., and Worley Parsons Ltd.

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