Global Floating Production Spend To See Huge Growth

Thursday, October 13, 2011

Latin America will account for half of the projected floating production Capex over the next five years according to a new Douglas-Westwood report. DW director Steve Robertson commented, “The dominance of this region is largely due to local Brazilian operators Petrobras and OGX plans to massively increase
their fleets of floating production systems. A key driver is Petrobras’s multi-FPS developments in its pre-salt fields in the Campos and Santos basins. We forecast that Latin American Capex for the 2012-2016 period will total $34bn, with 50 FPS deployments, a huge growth on the $12.5bn spent during the previous five-years.”
Douglas-Westwood’s latest edition of the World Floating Production Market Forecast details the considerable opportunities in the sector, examines the commercial, economic and geographical factors of influence and forecasts a  total of 134 installations over the 2012-2016 period, representing a global Capex of $68bn.
“The deepwater basins off West Africa, Brazil and in the US Gulf of Mexico have become established as the focus areas for FPS developments. Africa is the second most important region, although only accounting for 18% of forecast spend, compared to 50% for Latin America. Like Latin America, a large proportion of the African installations will take place in deepwater. North American spend from 2012-2016 is muted, with less activity forecast than for Asia or Western Europe,” he said.
“Douglas-Westwood’s forecast of total global installations represent a 37% increase on the 2007-2011 period (when there were 98) and a corresponding increase of 81% in expenditure,” noted Lucy Miller, the lead author of the report. “The disparity between the two percentages is a reflection of factors such as a larger proportion of newbuilds and conversions compared to redeployments, a greater degree of local content raising the cost of relevant equipment and services and cost inflation.
“FPSOs will continue to dominate the sector, with 81% of forecast global FPS spend. For the first time, our forecasts include a breakdown of FPS by component and associated spend. Expenditure on the hull is a considerable proportion of Capex – on average 25% of an FPSO and around 35% for other FPS types.
”The bottom line is that sector is set for massive growth,” she concluded.
http://www.dw-1.com/shop/shop-infopage.php?longref=808~0

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

CMA CGM Takes Second Guyanamax Boxship

The CMA CGM Group Informed that the CMA CGM MARSEILLE – 2nd vessel of its GUYANAMAX 3 - vessels series – was delivered in South Korea on July 29th. This 2,

Australia's Massive Shipbuilding Plan Announced

The Australian Government has thrown domestic shipbuilders an A$89 billion (US$ 66 billion) lifeline. It plans to deliver a long-term plan for a strong and sustainable naval shipbuilding industry.

Stoody Debuts Technical Services Hotline

Stoody, an ESAB brand, has recently launched the new Stoody Tech Services (STS) hotline to provide a valuable resource to distributors and applicators seeking

Offshore

LOC Opens Paris Office

LOC, a leading global marine and engineering consultancy for the shipping and offshore energy industry announces the expansion of its European operations with

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2619 sec (4 req/sec)