Decom Engineering has kicked off the new year with a stream of global project wins and awards valued in excess of seven figures, as it eyes further growth and recruitment through 2023.
It cited analysis by Boston Consulting Group stating that by 2038 there would be 1,000 offshore structures in the Arabian Gulf that would no longer be economically viable.
The UK energy market is transitioning, oil and gas is in slow decline, decommissioning is focussing on single lift solutions and the renewables market is in significant growth mode, albeit very cost driven.
The offshore oil and gas sector is โripeโ for emerging new decommissioning models, however analysts BCG said they โstrongly doubtโ some will survive.