September 2022 Monthly Floating Production Systems Report
Oil spot prices dropped into the upper $80s over the past month and Brent crude five years out dropped to the upper $60s in the futures market. But major upstream operators continue to rake in record cash and spending on new upstream projects continues to slowly ramp upwards. The queue of near-term production floater contracts has remained close to 40 units. Meanwhile, in September Petrobras awarded a $2.8 billion EPC contract to Keppel for the P-83 FPSO, ENI awarded an FPSO lease to Saipem and the UK Government decided to encourage further oil/gas development in the North Sea. All is discussed in WER's September floater report. Also in the data section of the report are details for 200 floater projects in the planning stage, 75 production or storage floaters now on order, 307 floating production units currently in service and 22 production floaters available for redeploy contracts. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 30 September.