June 2017 Monthly Floating Production Systems Report
The June WER report reviews the negative impact of excess crude inventory on oil prices. Crude prices have been driven back into the mid-$40s. But as described in the report, despite near term pricing weakness, production floater orders have been heating up. Over the past month ENI proceeded with its floating LNG project in Mozambique and ExxonMobil made the investment decision on the Liza oil project offshore Guyana. Looking forward, Petrobras is poised to finally proceed with orders for two large FPSOs for Brazil and, looking a bit further out, more than a dozen production floater contracts are in sight by end-2018. Details for these upcoming contracts are in the report. Also in the report are details for 201 floater projects in the planning stage, 47 production or storage floaters now on order, 292 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 17 June.