April 2018 Monthly Floating Production Systems Report

April 28, 2018

Crude prices have moved into the mid-$70s as excess inventory disappears from the market. This price level is supported by strong demand growth and $70+ pricing looks sustainable over the near to mid-term. Meanwhile, Energean contracted to build an FPSO for use offshore Israel, CNOOC/Husky proceeded with the construction of a production barge for the Madura MDA/MBH gas complex offshore Indonesia and Statoil contracted for a major repair and upgrade of the Njord Bravo FSO for future use offshore Norway. Petrobras continues with its aggressive FPSO procurement ramp-up, but timing of proposal due dates keeps being moved forward. All this is described in the April 2018 WER report. Also in the data section of the report are details for 224 floater projects in the planning stage, 50 production or storage floaters now on order, 298 floating production units currently in service and 29 production floaters available for redeployment contracts. Charts in the report update the location where floating production and storage systems are being planned, operating, being built and to be installed. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 23 April.

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