Report: $91B Spend on World Floating Production Systems

Press Release
Friday, October 05, 2012

The Market - Global Floating Production Capex to Double.


Douglas-Westwood (DW) forecast that between 2013 and 2017 $91bn will be spent on floating production systems (FPS) – an increase of 100% over the preceding five-year period. This growth is driven by factors such as a larger proportion of newbuilds and conversions compared to redeployments, a greater degree of local content resulting in increased costs and general offshore industry cost inflation.
 
Floating Production is firmly established as a cost-effective method of developing oil and gas fields around the world. In water depths beyond 500m floating production systems become one of the few options open to operators, an increasingly important factor as production moves into deeper waters. DW forecast that 63% of global FPS market spend will be in deep waters.
 
FPSOs represent by far the largest segment of the market both in numbers (94 installations) and forecast Capex (80%) over the 2013-2017 period. FPSSs account for the second largest segment of Capex (10%), followed by TLPs, then spars.
 
Latin America accounts for 29% of the forecast installations and 37% of the projected Capex. Most installations to date have been in Petrobras-operated fields off Brazil and this is likely to continue, albeit substantial delays are expected for Petrobras’ offshore E&P investment. Asia is the next most important region in numerical terms (24), but Africa is so in terms of forecast Capex ($18.2bn).
 
Modelling & Forecast Generation

Analysis is based on DW’s in-house Oil & Gas database which details around 1,000 FPS projects. The data feeds into the market model to generate forecasts of floating production systems in each region of the world. Expenditure is allocated both to year of order and year of installation.
 
In-depth analysis
Douglas-Westwood’s Floating Production Market Forecast 2013-2017 contains analysis of:
•    Capex – from 2008 to 2017, broken down by various components including hull, topside modules and mooring systems.  
•    FPS type – FPSOs, FPSSs, TLPs and Spars
•    Regional analysis – Africa, Asia, Australasia, Latin America, Middle East, North America and Western Europe  
•    Operator analysis – breakdown of Capex for the leading FPS operators historically and forecast and by region
•    Deepwater – by FPS type and region
•    Order year analysis – Capex by order year
•    The FPS supply chain – detailed analysis of the FPS supply chain, examining the small independent companies that provide specialist components and services, through to the multi-national companies that offer large-scale facilities  
•    Leasing & financing – a discussion of the issues and future outlook for financing of the sector; an analysis of major leasing contractors and their assets and a review of prospective vessel redeployments   


Why purchase the World Floating Production Market Forecast?

Now in its 11th edition, this highly regarded and established report has been tracking and analyzing the industry for over a decade. Douglas-Westwood’s market analysis, commentary and understanding are strengthened by extensive insight gained from strategy and consultancy work undertaken for major companies throughout the industry.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

New 'Mega Passenger Ship' for Star Cruises

Elomatic Ltd and Deltamarin Ltd have signed a tri-party engineering contract with shipbuilder MV Werften for the design of Star Cruises’ new Global Class “mega passenger ship,

Damen PSV for Wilson Sons Ultratug Offshore

Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and the Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000.

VARD Bags Three-vessel Contract

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels secured a contract for the design and construction

Offshore

Det Norske to Restore Production at Alvheim after Leak

Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak,

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

Cambodia Urged ASEAN to Avoid Words That Escalate Tension

Cambodia advised a grouping of South East Asian nations to avoid using words that "would escalate tension between China and the Philippines" in a weekend statement,

Finance

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies

MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next

Asia-N.Europe Box Rates Jump 58 pct

Freight rates for shipping containers from ports in Asia to Northern Europe jumped 58 percent to $1,125 per 20-foot container (TEU) in the week ending Friday, a

Energy

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies

MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

News

Global Maritime Introduces New DP Policies & Procedures

Global Maritime Consultancy & Engineering has introduced a new set of policies and procedures to support its Dynamic Positioning (DP) activities. The new procedures

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia-N.Europe Box Rates Jump 58 pct

Freight rates for shipping containers from ports in Asia to Northern Europe jumped 58 percent to $1,125 per 20-foot container (TEU) in the week ending Friday, a

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1261 sec (8 req/sec)