November 2018 Monthly Floating Production Systems Report
Oil prices took a violent dive in November. Growing crude inventory has sparked fear of a new demand/supply imbalance developing – causing market sentiment to suddenly reverse. The potential of oil spiking to $100+ by year end has been replaced by worries of a repeat of the 2014/15 price collapse. But while recent developments have sent a chill through the oil sector, orders for new production floaters have been relatively strong. Contracts for production floaters over the past two months have included construction of a production semi, construction of a speculative FPSO hull, conversions of two FPSOs, conversion of a production barge, charter of an FLNG barge and conversion of an FSRU and FSO. All is discussed in our November report. In the data section are details for 231 floater projects in the planning stage, 43 production or storage floaters now on order, 303 floating production units currently in service and 31 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 26 November.