Offshore Decommissioning Market to Post an Annual Growth Rate of 4.5% from 2017 to 2023
Low oil prices are negatively affecting the activities in many sectors of oil & gas industry, but decommissioning activity is set to increase in the environment of low oil prices due to the obsoletion of uneconomic platforms. Before the oil prices started falling, the global decommissioning market had been set for gradual growth. Further, ageing offshore infrastructure and increasingly stringent regulations drive investment, particularly in the two primary markets of the Gulf of Mexico and the North Sea.
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