Floating Production Systems: US$11+ Billion on Order
The floating production sector has been especially active over the past several months. Ten production floaters have been ordered since March, reports International Maritime Associates Inc. (IMA). 269 floating production units now in service or available – This figure is 22% greater than five years ago, almost 80% higher than ten years back. FPSOs account for 61% of the existing systems. The balance is comprised of production semis, tension leg platforms, production spars, production barges and floating regasification/storage units.
120 To 175 Floating Production Systems Forecast Over The Next Five Years
The number of floating production systems in service continues to grow. There are now more than double the number of units ten years ago – 250 units now vs. 120 units in 2001. Order backlog, which now stands at 47 units, will increase the inventory by another 20 percent over the next several years. Planned projects – In a new in-depth analysis of the floating production sector, IMA identifies 194 projects in the planning stage that are likely to require a floating production system for development.
Outlook for Floating Production Systems
By James R. International Maritime Associates, Inc. Floating production has evolved to a mature technology that opens for development oil and gas reservoirs that would be otherwise impossible or uneconomic to tap. The technology enables production far beyond the depth constraints of fixed platforms, generally considered to be 1,400 ft. (426.7 m), and provides a flexible solution for developing short-lived fields with marginal reserves and fields in remote locations where installation of a fixed facility would be difficult. Floating production systems vary greatly in appearance - from ship-shape FPSO vessels to multi hull production semis to cylindrical shaped production spars.
GOM: Number Of Floating Production Systems Projected To Rise
The Gulf of Mexico offshore market is quickly shaping up to be the driving maritime force of 2001 and beyond. While the market today is, and will always be, largely dependent on the political wranglings of OPEC nations, the recent consolidation which has swept the oil majors and, to some degree, the offshore drilling and supply and service companies, has helped to alter some of the traditional instabilities. For example, despite the fact that the price per barrel of oil has elevated to and remained in the mid $20s to low $30s for much of the year, offshore activity in the Gulf of Mexico has been sluggish to initially respond. While it appears that offshore business in the region will rebound strongly in the latter part of 2000 through 2001…
Outlook for Floating Production Systems
The strong and sustained rebound in the price per barrel of oil, coupled with the economic recovery in Asia has offshore production related companies planning for a big 2000. Following is a synopsis of a report generated by Washington, D.C.-based International Maritime Associates Inc. which assesses the market outlook for FPSO vessels, production semis, TLPs and spars. There are currently 107 floating production systems in operation worldwide, which is an increase of nearly 67 percent over the inventory reported in International Maritime Associates' report dated September 1996. In real terms, the increase means the addition of 49 units, broken down as such: 3 TLPs, 2 mini TLPs, 33 FPSO vessels, 9 production semis and 2 production spars.
Outlook for Floating Production Systems
The strong and sustained rebound in the price per barrel of oil, coupled with the economic recovery in Asia has offshore production related companies planning for a big 2000. Following is a synopsis of a report generated by Washington, D.C.-based International Maritime Associates Inc. which assesses the market outlook for FPSO vessels, production semis, TLPs and spars. There are currently 107 floating production systems in operation worldwide, which is an increase of nearly 67 percent over the inventory reported in International Maritime Associates' report dated September 1996. In real terms, the increase means the addition of 49 units, broken down as such: 3 TLPs, 2 mini TLPs, 33 FPSO vessels, 9 production semis and 2 production spars.
