December 2019 Monthly Floating Production Systems Report
Over the past month SBM ordered two more Fast4Ward FPSO hulls in anticipation of future FPSO contracts. Petrobras announced a plan for 13 new FPSOs to enter service over the next five years – and said 13 aging floating production units will be retired over the same period. Two FSRU terminals have moved to the development stage. Financing of the Acajutla power plant/FSRU import terminal in El Salvador closed in December and a Chinese group was selected to build an FSRU terminal in Cyprus. Meanwhile oil prices have benefited from the OPEC+ cutback agreement, Saudi efforts to bolster Aramco post-IPO shares performance and improved sentiment about the global economic outlook. The price of Brent crude is up 9% since the beginning of this month. In the data section of the report are details for 218 floater projects in the planning stage, 49 production or storage floaters now on order, 302 floating production units currently in service and 35 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 27 December.