Despite Covid-19 impacting activity in the oil and gas sector, globally the cost of decommissioning is still expected to be worth around USD$200 billion over the next 20 years, with around 49% expected to be spent on well plug and abandonment alone.
While the UK is still expected to be the largest market for decommissioning in Europe, future regions of opportunity are: the Middle East, APAC (in particular Australia, Brunei, Malaysia, Thailand, Indonesia) and Latin America (Brazil).
Each of these regions has its own unique challenges, however several countries have begun to seriously think about the development of their roadmaps for decommissioning including India, Malaysia, Brunei, and Brazil.
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