FPSO Industry: 65 FPSO vessels are expected to start operations across the globe by 2020.

crude oil & gas projects

Q1 2016 Global FPSO Industry Outlook – Decline in Capital Expenditure Spending Continues to Delay Planned FPSO Deployments

FPSO are the floating production units that extract millions of tons of oil from the oil wells under the sea. They are usually employed in deep sea region where it is expensive to lay long distance pipelines or to extract oil from small oil fields, so when the source of oil is empty; the FPSO vessel can be utilized for other oil fields. FPSO is profitable than the whole set up of oil production in the sea.

Over the upcoming next four years in FPSO Industry, 65 FPSO are expected to start operations across the world. However continuous decline in the global upstream capital expenditure could delay or cancel the start of several planned FPSO projects in various locations across the globe.

In FPSO Industry, it is estimated that South America will lead the world in terms of FPSO deployments with expected start of 19 FPSO vessels by 2020. Brazil will drive the FPSO growth in South America with expected start of operations of 18 FPSOs in its offshore-subsalt region.

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Africa and Europe are the other major regions in the world in FPSO Industry with expected deployment of 13 and 12 FPSOs respectively by 2020.

FPSO Industry can be segmented into categories by type and by region.

By type of floating storage and offloading unit: FSO, FPSO, FDPSO and FSRU

By region where FPSO units are operating: Africa, South America, Indonesia and North Sea etc.

Some of the prominent FPSO (Floating Production Storage and Offloading) unit designer and operator companies in FPSO Industry are:

  • Prosafe ASA
  • Bergesen Worldwide Offshore AS (BW Offshore)
  • Aker Floating System
  • Frontier Drilling AS
  • Larsen Oil and Gas

These companies are FPSO owners who design FPSO vessel for the companies. They offer them units for lease or sell them for extracting the oil and gas from upstream projects in FPSO Industry all over the globe.

FPSO Industry is very expensive industry due to the amount of capital investment in FPSO production and maintenance. FPSO unit costs hundreds of million dollars and mostly are owned by state owned companies across the globe. Investment made in FPSO is profitable, when a large number of planned upstream projects are launched for oil and gas production.

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