The offshore decommissioning market is likely to grow from USD 5.04 billion in 2021 to reach USD 8.32 billion by 2028 at a healthy CAGR of 7.4 % during the forecast period.Offshore Decommissioning is a process that involves clogging of the hole in the earth’s surface and disposal of the equipment used in offshore oil production. The process appertains ten steps, which are project management, engineering, and planning; permitting and regulatory compliance; platform preparation; well plugging and abandonment; conductor removal; mobilization and demobilization of derrick barges; platform removal; pipeline and power cable decommissioning; materials disposal; and site clearance
Source: https://www.stratviewresearch.com/1273/offshore-decommissioning-market.html
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