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Floating Production System Orders Outlook

An EPC contract for a production unit can easily exceed $1 billion – and $3 billion for an FPSO has recently been breached. Overall, this is a $20 to $30 billion annual market. But, as described below, the sector is hitting some headwinds that could impact future business opportunities. 243 floating production projects are in various stages of planning as of beginning May. Of these, 57% involve an FPSO…