Mexico Oil and Gas Decommissioning Market Report and Forecast 2024-2032

Mexico Oil and Gas Decommissioning Market Outlook

The Mexico oil and gas decommissioning market size is projected to grow at a CAGR of 6.3% between 2024 and 2032. The market is being aided by the growing trend of sustainability and the rising awareness regarding environmental impact posed by oil and gas infrastructure in oceans.

Key Takeaways

• 500 platforms and 2,700 oil wells are awaiting to be decommissioned in the Gulf of Mexico.

• Decommissioning could cost over $30 billion of taxpayers’ money in the Gulf of Mexico.

• Sustainability is expected to emerge as one of the key Mexico oil and gas decommissioning market trends.

The potential environmental threats posed by oil and gas infrastructure in oceans are gaining widespread concern in Mexico. This is because accidental oil spills caused by corrosion of abandoned pipelines during storms can damage the aquatic ecosystem badly and choke marine life badly, thereby affecting the livelihood of coastal fishermen directly.

Methane emissions from unplugged oil wells can contribute to an increase in greenhouse gas emissions and accelerate the rate of climate change, thereby increasing the risk of natural disasters. The strengthening of legal regulations related to the decommissioning of oil projects is expected to drive the Mexico oil and gas decommissioning market expansion in the coming years.

Ensuring sustainability while decommissioning oil and gas infrastructure is a critical component of the overall operations of the oil and gas industry. Various assets utilised for energy extraction, including helidecks and GT power generators, can be repurposed/recycled or used in a hydrogen production facility. This can minimise the volume of waste generated from industrial operations to just 2%.

Moreover, some ageing infrastructures have become artificial reefs supporting the local marine biodiversity, which is prompting ocean conservation organisations to encourage oil and gas explorers to relocate steel jackets in a sustainable manner onto the seabed. This is expected to drive the Mexico oil and gas decommissioning market development in the forecast period.

Market Segmentation

Mexico Oil and Gas Decommissioning Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Water Depth

• Shallow Water

• Deep Water

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

The key operators in the Mexico oil and gas decommissioning market are Anadarko Petroleum Corporation, Apache Corporation, BP p.l.c., Chevron Corporation, and Exxon Mobil Corporation. Major service companies in the market are Petrofac Limited, Intertek Group plc, Proserv Group Inc., Manson Construction Co., and Ardent, among others.

Key Highlights of the Report