Floating production continues to grow at a dynamic pace. There are now 197 floating production systems in operation worldwide. Another 62 systems are on order. Most important, there are more than 100 projects in the planning stage that potentially require a floating production system. Production Floaters Approaching 200 Units: The current inventory consists of 118 FPSOs, 40 production semis, 20 TLPs, 15 spars and 4 production barges. They are producing on fields primarily offshore West Africa, Northern Europe, US Gulf Coast, Brazil, Southeast Asia, China and Australia/New Zealand. Another 76 floating storage vessels (without production capability) are now in service, primarily in Southeast Asia, West Africa and the North Sea. Order Backlog at Record Level: With more than a dozen orders over the past four months, order backlog of production floaters as of mid-March has risen to 62 units. This is the highest backlog in the history of floating production. Backlog, which began climbing in late 2005, has increased more than 75 percent over the past two years. The current backlog consists of 46 FPSOs, 8 production semis, 2 TLPs, 3 spars, 2 barges and a ship shape FPU. More Than 100 New Projects Being Planned: In a just published study, U.S. consulting firm IMA has identified 109 offshore projects in the planning pipeline that potentially require floating production systems
IMA has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs is the 47th in a series of IMA reports on the deepwater production sector that began in 1996. Some highlights from the new report are below. Order backlog for production floaters at all-time high – 74 production floaters are currently on order
IMA has just completed a detailed assessment of the floating production sector. The study examines the impact of the global economic downturn, assesses the underlying long term market drivers and forecasts production floater orders over the next five years. The market for new floating production systems has frozen as a result of the abrupt downturn in the global economy. Over the past quarter no orders have been placed for production floaters
source: ‘The World Floating Production Report II’, Douglas-Westwood & Infield Systems Over the past five years capital expenditure on floating production systems has totalled some $20 billion, but over the next five years this is forecast to increase by more than 50% to $32 billion. Annual spend is expected to soar to over $9 billion in 2004. These are amongst the findings of a major new study launched today at Houston’s annual Offshore Technology Conference by energy analysts
The Gulf of Mexico offshore market is quickly shaping up to be the driving maritime force of 2001 and beyond. While the market today is, and will always be, largely dependent on the political wranglings of OPEC nations, the recent consolidation which has swept the oil majors and, to some degree, the offshore drilling and supply and service companies, has helped to alter some of the traditional instabilities. For example
Husky Energy Inc. has awarded a $250 million contract for the subsea production system for the White Rose oil field project, located 217 miles off the east coast of Newfoundland and Labrador. The contract covers the design, supply and installation of the subsea system for the White Rose project. Husky plans to use a floating production, storage and offloading (FPSO) vessel to develop the offshore field. The subsea production system includes a total of 42 kilometres of flexible risers
StatoilHydro on behalf of the Morvin license group, awarded Aker Kvaerner a contract for the engineering, procurement and construction (EPC) of a complete subsea production system for StatoilHydro's Morvin field in the Norwegian Sea. The contract, worth approximately $181m is a testament to Aker Kvaerner's unique high-pressure/high-temperature (HPHT) subsea technology. The Morvin contract is an addition to the scope identified in the frame agreement signed by Aker Kvaerner and
Effective April 1, 2015 Mitsubishi Heavy Industries, Ltd. (MHI) will revamp its production structure for casting products. From that date all current Group casting operations will be consolidated at the company's Futami Plant, part of its Kobe Shipyard & Machinery Works, and the existing casting plants at the Hiroshima Machinery Works and Nagasaki Shipyard & Machinery Works (Mitsubishi Hitachi Power Systems, Ltd.'s Nagasaki Works) will be closed down
Floating Production Storage & Offloading (FPSO) vessel 'Cidade de Itajaí' arrives at the Santos Basin. Petrobras announce the FPSO's arrival at its definitive location to be integrated to the Baúna and Piracaba field production system, which is in the Santos basin post-salt area. Chartered from OOG-TKP (the consortium formed by Odebrecht Óleo e Gás & Teekay Petrojarl), the vessel is being prepared for anchoring and is expected to start producing yet
Maersk Oil selects Fibertown to provede data center facilities for mission-critical & disaster recovery systems FIBERTOWN, a premier provider of high availabilityHouston data centers and business continuity offices has announced that the Houston division of Danish oil and shipping company, Maersk Oil, selected Fibertown data centers for high-performance colocation of its mission critical and disaster recovery systems.
WER December Floating Production Report The December WER report examines whether OPEC’s decision to limit crude production will accelerate deepwater project starts over the next 12 to 24 months, given 3 billion barrels of oil stocks in global inventory, 5
Ship construction contracts valued at approximately 2 billion euros between Fincantieri and Virgin Voyages (part of Virgin Group of companies) for three new cruise ships have been finalized and are now effective. The three units will be built at the shipyard in Sestri Ponente (Genoa) with delivery
Mitsubishi Heavy Industries, Ltd. (MHI), its wholly owned subsidiary Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME), and Kobe Diesel Co., Ltd. have concluded a basic agreement to pursue integration of the marine diesel engine operations of MHI-MME and Kobe Diesel.
At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a crucial pipeline that brings output onshore, several companies said. The fire at Enterprise Products Partners plant in
The Bureau of Safety and Environmental Enforcement is continuing its investigation of the oil release from Shell Offshore Inc.’s Glider Field on May 12. The Glider Field, located approximately 97 miles south of Port Fourchon, LA, includes subsea wells and the field’s production flows
No question that the market for new floating production systems has taken a battering. The past 12 to 18 months have been a difficult period for everyone in the business sector. Absence of new contracts has forced fabricators and equipment suppliers to make huge cutbacks in personnel
Keppel FELS Brasil Secures MODEC FPSO Project Keppel Offshore & Marine Ltd, through subsidiary Keppel FELS Brasil SA's BrasFELS shipyard, has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by its repeat customer MODEC
Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary, Keppel FELS Brasil SA's BrasFELS shipyard has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by its repeat customer MODEC Offshore Production Systems (Singapore)
Schlumberger Limited (NYSE:SLB) announced today that it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share
Malaysian state-owned shipping company MISC has bought the remaining 50% stake in the Gumusut-Kakap Semi-Floating Production System Limited (GKL) for $445m from E&P Venture Solutions (EPV), part of Petronas Carigali.
When it came time to replace the engine in the shrimping boat R.J.H. No. 1 operating in the Gulf of St. Lawrence and GaspéPeninsula in Quebec, mechanical simplicity, reliability and improved fuel economy led the vessel’s owners to opt for a YANMAR 6AYM-WST repower.
Zentech Incorporated of Houston, Texas, USA signed contracts with CSSC Huangpu Wenchong Shipbuilding Company Limited for the construction of (2) Z-210 Mobile Offshore Units. These contracts were finalized based on the Letter of Intent received by CSSC Huangpu Wenchong Shipyard on September 23,2015
Oil and natural gas output at Petróleo Brasileiro SA rose 4.3 percent last year, the second annual increase after two years of declines, as long-delayed offshore production systems came on line. Petrobras, as the company is known, produced an average 2
Statoil Petroleum AS has signed Master Service Agreements with Aker Solutions ASA and OneSubsea Processing AS. The agreements signed form the basis for potential new EPC contracts (engineering, procurement and construction) for subsea equipment in the medium term future
Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win strong support from repeat customers by securing four contracts worth a total of about S$125 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel