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
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
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
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
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
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
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.
Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Hitachi Power Systems, Ltd. (MHPS) have planned to reorganize their their Nagasaki Shipyard & Machinery Works and Nagasaki Works respectively. The coordinated decisions are aimed at further strengthening global competitiveness
Subsea 7 and Houston-based OneSubsea have announced the signing a global alliance agreement to combine resources and collaborate on selected projects. The firms will jointly design, develop and deliver integrated subsea development solutions. OneSubsea is owned by Cameron and Schlumberger
IRClass Academy of the Indian Register of Shipping (IRS) signed a Memorandum of Understanding last month with Lloyd’s Maritime Academy (LMA) and IBC Academy (IBCA) that are part of Informa PLC in the UK. The objective of this collaboration is to deliver customised training solutions
Despite industry gloom about the offshore market, orders for production floaters continue to flow. Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been
HANJIN Heavy Industries & Construction (HHIC)-Phil’s Subic Shipyard hit the jackpot bids. On April 20, the company said that it signed a deal to build six 11,000-TEU containerships for European and Asian shipping companies.
Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd., a wholly owned subsidiary of Siemens AG.
Aker Solutions and Fjords Processing have formed an alliance to develop technology and capabilities for advanced, cost-effective wellstream separation and treatment solutions for the subsea and topside oil and gas industry. The WellSep alliance will apply Aker Solutions' subsea
The Comptroller General's Office (CGU), the Attorney General's Office (AGU) and SBM Offshore today signed a Memorandum of Understanding (MoU). The MoU sets a framework between the Company, the CGU and the AGU for discussions on a potential mutually acceptable settlement and for the
25 Units Orders in 2014: 10 FPSOs, 1 Barge, 4 FLNGs, 7 FSRUs & 3 FSOs The overall number of orders is similar to the average ordering pace over the past 10 years, during which an average of roughly 25 production and storage floaters were ordered annually.
For Russian Maritime Register of Shipping (RS), 2014 marked the 101st year of its activities. The classification society said 2014 also marked a landmark year, as the construction of the world's first Arctic LNG carrier began to RS class. The new 300-meter-long ship carrying liquefied natural gas
2014 Floater Orders – We thought it would be useful to provide a summary of floater orders placed last year. As listed below, 25 units were ordered during the year - 10 FPSOs, one Barge, four FLNGs, seven FSRUs and three FSOs. FPSOs (10) • Kaombo CLM
Ten years after the Indian Ocean tsunami hit South and Southeast Asia, countries in the region are better prepared to deal with tragedies, the United Nations Food and Agriculture Organization (FAO) said today, while stressing that there is still room for improvement.
Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion (DSC), has been awarded an EPC contract by Petrojarl I LLC for the upgrade of its FPSO Petrojarl I. The Petrojarl I is a Teekay Petrojarl managed FPSO built in 1986 which has been active in the North Sea
Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore
Petroleo Brasileiro SA began operating the furnaces in the atmospheric distillation unit at its Abreu e Lima or "RNEST" refinery near Recife, said the state-run oil company in a statement on Thursday. The furnaces began operation Wednesday, the same day Brazil's oil regulator, the ANP