April 2019 Monthly Floating Production Systems Report

April 24, 2019

Oil prices have climbed into the mid $70, reflecting the impact of voluntary supply curtailments, instability in Libya and Venezuela, tightening of sanctions on Iran and a generally more positive view of future oil demand. $80+ crude looks likely by mid-year – and crude prices could spike much higher by then. In recent contract action, Samsung received a contract to build a gas/condensate FPSO for offshore India, Modec emerged as the likely supplier of the Buzios #5 FPSO, SBM firmed its third speculative Fast4Ward FPSO hull order, Chevron selected Aker Solutions to supply an unmanned power and control semi for the Jansz-Lo project and MOL agreed to partner with Karpowership on an FSRU conversion. All is discussed in our April WER floating production report. Also in the data section of the report are details for 221 floater projects in the planning stage, 47 production or storage floaters now on order, 306 floating production units currently in service and 30 production floaters available for redeployment contracts. Charts in the report update the location where floating production and storage systems are being planned, operating and under construction. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 23 April.

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