September 2018 Monthly Floating Production Systems Report

September 19, 2018

Underlying market fundamentals look very good. The global economy is on steroids – growing at 3.9%. Oil prices have climbed again into the high $70 and sanctions on Iran oil shipments are likely to send prices much higher over the next few months. Bottlenecks in the major US shale oil region have raised costs and slowed growth in shale oil production, providing incentive for deepwater investment. Concerns over global excess oil inventory have been replaced by worries about a future supply shortfall. More than 20 production floater projects in the planning queue are ready to go forward to FID. But despite the strong underlying market, contracts for production floaters have been stuck in idle over the past few months – aside from a long anticipated FSRU contract in West Africa. All is discussed in our September report. In the data section are details for 232 floater projects in the planning stage, 44 production or storage floaters now on order, 304 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 19 September.

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