Brazil to Lead in Global FPSO Deployments

Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData.

Brazil is expected to deploy a total of 11 planned and ten announced FPSOs by 2025. The crude oil production capacity of these upcoming FPSOs is expected to be 2.5 million barrels per day (mmbd) during the outlook period. In Brazil, FPSOs are being deployed to develop hydrocarbons in the Santos and Campos basins.

Brazilian state-controlled oil, natural gas and energy giant Petroleo Brasileiro (Petrobras) is expected to deploy six planned and nine announced FPSOs by 2025. It is expected that 2023 will witness the highest number of FPSO deployments with four.

“Petrobras is expected to add a total crude oil production capacity of 1.5 million barrels per day (mmbd) through its upcoming FPSOs by 2025. Among the upcoming FPSOs operated by Petrobras, Mero 3 and Mero 4 will have the highest crude oil production capacity of 0.2 mmbd each during the outlook period,” said Adithya Rekha, Oil and Gas Analyst at GlobalData.

Angola is expected to deploy the second highest number of FPSOs globally with five planned by 2025. All the upcoming FPSOs in the country are announced projects. Sonangol P&P and Cabinda Gulf Oil Company are leading in terms of number of deployments in the country with two FPSOs each, while BP Angola will operate the remaining FPSO.

“The UK and Nigeria jointly occupy the third position with the deployment of four FPSOs each by 2025. Both countries have one planned and three announced FPSOs, which are expected to be deployed during the outlook period,” the report said.

Meanwhile, GlobalData identifies Modec as the second highest operator globally with four upcoming FPSOs by 2025. All of the upcoming FPSOs in the company’s portfolio are planned and the firm is expected to add a total crude oil production capacity of 0.6 mmbd through these upcoming FPSOs by 2025.

Rekha added: “SBM Offshore occupies the third position with the operator-ship of three planned FPSOs by 2025. These FPSOs are expected to add a total crude oil production capacity of 0.5 mmbd during the forecast period.”