September 2023 Monthly Floating Production Systems Report
Crude prices have climbed into the mid-$90s and appear on the way to breaching $100 in the near future. Strong demand and OPEC+ constraints on supply are behind the price increase. But longer term, the futures market continues to signal that crude will trade in the high $60s in later years of this decade The list of floater projects in the near term planning stage remains very strong, with thirty four floater projects lined up for an investment decision within the next 18 months, assuming supply chain tightness, financing access and environmental opposition does not limit the pace of awards. Genting is proceeding with ordering long lead items for a small FLNG to use on the Kasuri gas field in PNG.