Australia Leads FPSO Deployment in AsiaPac
A total of 67 floating production, storage and offloading (FPSOs) vessels are expected to start operations globally by 2025, with Australia leading the Asia-Pacific region.
Globally, 67 planned and announced FPSOs are expected to start operations between 2019 and 2025, revealed the report 'Q1 2019 Global FPSO Industry' by GlobalData.
Of these, 26 are planned and 41 are announced and of these Australia will account for all FPSOs planned for deployment in Oceania during 2019-2025.
In Oceania, all the five upcoming FPSOs-Barossa, Browse 1, Browse 2, Buffalo (Re-Development), and Crux-are announced FPSOs, it said.
Woodside Browse Ltd. leads among operators with two upcoming FPSOs, which are expected to commence operations during the outlook period. The rest of the operators-Shell Development (Australia) Pty Ltd, Carnarvon Petroleum Ltd and ConocoPhillips-will operate one FPSO each during the period.
Among the other regions globally, South America continues to lead with 30 planned and announced FPSO additions by 2025. In South America, Brazil tops with 23 planned and announced FPSOs, followed by the Falkland Islands and Guyana with four and three FPSOs, respectively. Of the total 23 FPSOs in Brazil, 14 are planned and nine are announced.
Brazil is deploying FPSOs to develop subsalt hydrocarbon reserves in the Campos and Santos basins. In Australia, FPSOs are primarily being deployed to develop conventional natural gas fields. Furthermore, Africa has been identified as the second highest region with 14 upcoming FPSO additions by 2025.
Angola and Nigeria are the key countries in the region with five and four upcoming FPSO additions, respectively, during the period 2019-2025. Senegal, Ghana, South Africa, Tunisia and Mauritania follow with one upcoming FPSO each.
North America, Asia and the Middle East are the other key regions with planned and announced FPSO additions. North America will have five upcoming FPSOs, Asia will have four planned and announced FPSOs, and the Middle East will have one upcoming FPSO, during the outlook period.