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 Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

North Sea Atlantic Joins the Technip fleet

On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic.

New Australian Navy Submarines to be Japan Built?

Australia should discuss building its next-generation fleet of submarines overseas, the Department of Defence said on Monday, a shift that could open the door to

Russian Navy Expansion Gathers Momentum

The Russian Navy celebrates its professional holiday by putting two new submarines into service and expects a new warship in the fall and several additional ships

Offshore

Offshore Installation at Lerwick

A large steel oil storage tank to be installed west of Shetland as part of Premier’s development of the Solan field has arrived in Lerwick onboard a heavy-transport vessel Xiang Yun Kou,

Wagenbourg New Crane for Oil, Gas, Energy Sector

Wagenborg Nedlift has expanded her crane fleet with a brand new 700 tonnes mobile crane. With this crane the fleet is significantly strengthened. Equipped with

Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km

Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska,

Finance

Coast Guard Responds to Grounded Freighter in Lake St. Clair

The Coast Guard has responded Sunday to a 656-foot freighter that was hard aground in the downbound shipping channel of Lake St. Clair. Initial reports indicate

Leighton HY14 net margin Up to 2.7%

Leighton Holdings announced its results for the six months to 30 June 2014.   * Total revenue of $11.9 billion, up on HY13 * EBITDAiii of $843 million. Comparable EBITDAiv of $945 million,

LNG to Acquire Bear Head LNG Project in Canada for US$11 mi

Liquefied Natural Gas Limited today announced that it has significantly expanded its presence in the North American Liquefied NaturalGas (LNG) sector by signing

Energy

Europe Sleep Walking into an Energy Crisis: Analyst

The downing of flight MA17 has prompted calls for further sanctions on Russia targeted at its energy sector. Douglas-Westwood in its 'DW Monday' analysis considers

Australia Approves Adani's $16 bln Carmichael Coal Project

The Australian government on Monday approved Indian firm Adani Mining Pty Ltd's controversial A$16.5 billion ($15.5 billion) Carmichael coal and rail project in Queensland,

Tanker with Iraqi Kurdish Oil Anchors off Texas Port

A tanker carrying crude oil from Iraqi Kurdistan was anchored near the Port of Galveston, Texas, and must undergo a routine safety inspection by the U.S. Coast

News

Raytheon Anschütz Debuts ShipGuard at SMM

In view of an increasing demand for security of merchant ships and maritime trade, Raytheon Anschütz, a German-based manufacturer of Integrated Bridge Systems,

North Sea Atlantic Joins the Technip fleet

On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic.

Coast Guard Responds to Grounded Freighter in Lake St. Clair

The Coast Guard has responded Sunday to a 656-foot freighter that was hard aground in the downbound shipping channel of Lake St. Clair. Initial reports indicate

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2234 sec (4 req/sec)