The oil sector continues to rebound from the Covid crash. Crude inventory is now at seasonal level as a result of supply cuts. Brent is trading around $66, up 30% from beginning of the year. The futures market sees crude trading in the low to mid-$60s through the first half of this year – then slowly declining into the mid-$50s from 2022 forward. Generally positive news has sent market values of major offshore oil companies up an average of 30% since beginning January. But Petrobras has again fallen out of investor favor as a result of government interference in management decisions. Meanwhile, SBM speculatively ordered a sixth hull for use on a future FPSO project, BWO wrote down the book value of six off-field FPSOs, several FPSO contractors are now eyeing the floating offshore wind space and SBM’s $850 million over subscribed debt offering confirms investor interest in FPSO financings. All is discussed in the February WER report. Also in the data section of the report are details for 207 floater projects in the planning stage, 42 production or storage floaters now on order, 306 floating production units currently in service and 44 production floaters available for redeployment contracts. Charts in the report update the location where floating production and storage systems are being planned, operating and under construction. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 25 February.

FORECASTS AND MARKET INTELLIGENCE FOR THE GLOBAL FLOATING PRODUCTION SECTOR

FPSOs, SEMIs, SPARs, TLPs, FLNGs, FSRUs, FSOs

This comprehensive business intelligence service and online database provides insider access to business and investment opportunities in the deepwater global floating production sector. There is nothing else like it anywhere

International Maritime Associates

The Only Floating Production Systems Market Intelligence Package that Offers:

  • Annual Five Year Market Forecast
  • Real Time, Interactive Online Database
  • Monthly Reports And Forecast Recalibration
  • Customer Support And Research Assistance

About International Maritime Associates and World Energy Reports:

International Maritime Associates (IMA) was formed in 1973 to provide market analysis, strategic planning, business development and project implementation support to clients in the offshore and marine sectors. IMA’s 170+ clients in 40+ countries have included offshore field operators, EPC contractors, equipment manufacturers, fabricators, engineering and technology firms, financing institutions, others.

World Energy Reports (WER) was formed in 2013 as an IMA spinoff to develop online databases and produce multi-client research reports in the offshore energy sector. Over the past seven years WER has built databases in three major offshore sectors -- floating production, offshore wind energy and floating liquefaction and regasification. WER has also published multi-client reports in each of these three sectors – with many of the key sector players among our clients.

Spearheading our consulting services and business intelligence gathering is Jim McCaul, managing director and founder of both IMA and WER. Jim has provided market analysis, strategic planning assistance and project implementation support to many of the world’s major field operators and offshore contractors.

Supporting our business intelligence gathering is a network of liaison personnel globally postioned in all major offshore markets – and an IT staff in our New York office with extensive experience in developing and managing sophisticated online databases.

FSPO Report 2020

2021 EDITION NOW AVAILABLE, ORDER TODAY!

FIVE YEAR MARKET FORECAST – 2021 EDITION

Analysis of Future Business Drivers and Forecast of Floating Production System Orders between 2021/2025

100+ pages of analysis, data, charts and forecasts -- all geared to provide an understanding of contract opportunities and competitive landscape in the $75+ billion floating production system market over the next five years.

INCLUDES 104 CHARTS, GRAPHS AND EXHIBITS

sample page from FSPO Report 2020

This report presents our five year forecast of floating production system orders. First we present an overview of the industry and our assessment of the underlying market situation likely to prevail over the 2021/25 forecast period. Then we provide our forecast of orders for eight types of production systems under three market scenarios. The final four sections of the report contain details for floating production systems in the planning stage, on order, in operation and available for redeployment.

Preview the report! See the 2021 report outline and list of exhibits on pages 4 and 5.

COMPREHENSIVE MONTHLY ANALYSIS

Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets provided with each report enable subscribers to tailor the data presentation to their needs.

In the May 2021 monthly report we will fine tune the annual forecast and make revisions as needed.

ADVANCED INTERACTIVE DATABASE

INTERACTIVE REAL TIME MARKET DATA ACCESSIBLE ONLINE

The Floating Production Systems database is a major advancement in business intelligence in the floating production sector. Updated daily – 24/7/365 – courtesy of World Energy Reports’ global network of correspondents and analysts – the database is a powerful tool that enables you to research, discover and produce the information you need, when you need it, in the form you want to see it.

CREATE AND EXPORT CUSTOM CHARTS AND SPREADSHEETS

The online database is updated every day – with information direct from primary sources. In the database are details for 200+ planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. All data are exportable to excel spreadsheet.

TECHNICAL AND RESEARCH ASSISTANCE FOR USERS

Our market Intelligence comes with a complete customer support package. Jim McCaul and the staff of International Maritime Associates are available to assist with technical questions about information in the database and reports. World Energy Report’s technical support staff are available to assist with any questions about using the online database, search tools or features.

WHY SHOULD I PURCHASE A MARKET INTELLIGENCE PACKAGE?

sample from FSPO Report 2020
  • Floating production is a large, complex market with many moving pieces. Deepwater discoveries are made on a continuing basis as operators search for oil in new locations. Development options evolve as more is known about the reservoir and field complexity. Technology for accessing deepwater reservoirs continues to improve. The supply chain competitive landscape changes as players enter and exit the sector.

  • Our business intelligence package provides the information needed to keep abreast of these developments. We immediately provide data on new discoveries that have potential to require a floating production system. Then we track the discovery as it moves through the exploration, appraisal, field planning and contracting stages – which can extend over 5+ years. When the production floater contract is placed we provide data on contract terms.

  • The database is designed for use by field operators, EPC contractors, fabricators, equipment suppliers, leasing companies, investors and other companies active in the deepwater sector. The information enables the user to prioritize market strategy in the deepwater market and optimize position on the competitive landscape.

Floating Production Systems – 2021 Five year forecast

Outline of the Report

Contents

I.          Executive Summary.

1.  The Deepwater Business Sector

2.  Underlying Business Drivers.

3.  2021/25 Forecast of Orders.

II.        OVERVIEW OF THE INDUSTRY.

1.     Types of Floating Production Systems.

a.       Floating Storage Units – FSO and LNG FSU

b.      Oil/gas Production Units – FPSO and FPU

c.       LNG Processing Units – FLNG and FSRU

2.     Industry Growth Over the Past Four Decades.

3.     Production and Storage Floaters Now Installed.

4.     Production and Storage Floaters Now Under Construction.

5.     Production and Storage Floaters in the Planning Stage.

III.       UNDERLYING BUSINESS DRIVERS.

1.     Covid 19 Will Impact Near Term Energy Demand.

2.     Impact of the Energy Transition on Long Term Oil and Gas Demand.

3.     Need to Find and Develop New Oil Supply Sources.

4.     Need for Additional Gas Liquefaction and Regasification Capacity.

5.     Continued Threat of Supply Disruptions.

6.     Current and Projected Oil and Gas Prices.

7.     Capital Budgets for Oil and Gas Upstream Projects.

8.     Competitiveness of Deepwater for Investment Resources.

9.     Access to Financing for Production Floater Procurement

10.   Barriers to Deepwater Development

11.   Black Swan Events.

12.   Summing Up the Underlying Drivers.

IV.       FORECAST OF PRODUCTION FLOATER ORDERS.

1.     Forecast Scenarios.

2.     Future FPSO Requirements.

a.       Overview of FPSOs.

b.      Location of FPSOs.

c.       Owners of FPSOs in Service, Available and On Order

d.      Growth in FPSO Inventory.

e.       Ten Year Trend in FPSO Orders.

f.       Profile of FPSOs Now Being Built

g.      Planned FPSO Projects.

h.      Future FPSO Requirements.

i.       Timing of FPSO Orders.

j.       Regional Source of Future FPSO Orders.

k.      Future Role of Redeployed FPSOs.

l.       Projected FPSO Capex.

m.     Composition of Projected FPSO Capex.

3.     Future FPU Requirements.

a.       Overview of FPUs.

b.      Location of FPUs.

c.       Owners of FPUs.

d.      Growth in FPU Inventory.

e.       Ten Year Trend in FPU Orders.

f.       FPUs Now Being Built

g.      Planned FPU Projects.

h.      Future FPU Orders.

i.       Composition of Future FPU Orders.

j.       Projected FPU Capex.

4.     Future FLNG Requirements.

a.       Overview of FLNGs.

b.      Role of floating liquefaction.

c.       Owners of FLNGs.

d.      Trend in FLNG Orders.

e.       FLNGs Now On Order

f.       Planned FLNG Projects.

g.      Future FLNG Orders.

h.      Projected FLNG Capex.

5.     Future FSRU Requirements.

a.       Overview of FSRUs.

b.      Pros and cons of FSRUs.

c.       Where FSRUs are in Operation.

d.      Owners of FSRUs in Service, On Order and Available.

e.       Growth in FSRU Inventory.

f.       Ten Year Trend in FSRU Orders.

g.      FSRU Terminals in the Planning Queue.

h.      Future FSRU Requirements.

i.       Projected FSRU Capex.

6.     Future FSO Requirements.

a.       Overview of FSOs.

b.      Ownership of FSOs.

c.       Recent FSO Orders.

d.      Planned FSO Projects.

e.       Future FSO Requirements.

f.       Projected FSO Capex.

List of Exhibits

Exhibit 1. Summary of the 2021/25 Forecast of Production Floater Orders.

Exhibit 2. Floating Production and Storage Units Installed, On Order and Available.

Exhibit 3. Four+ Decades of Growth in Floating Production Systems.

Exhibit 4. Where Floating Production and Storage Systems Are Installed.

Exhibit 5. Where Floating Production and Storage Systems  Under Construction Are To Be Installed.

Exhibit 6. Where Floating Production and Storage Systems  Are Currently  Being Built

Exhibit 7. Planned Floating Production Projects  -- Europe, Asia and Africa.

Exhibit 8. Planned Floating Production Projects  -- North and South America.

Exhibit 9. Growth in World Economic Output and Population.

Exhibit 10. Annual Percentage Change in Global Energy Demand Since 1900.

Exhibit 11. Percentage Market Share of Major Energy Sources Since 1900.

Exhibit 12. BP’s Forecast of Global Energy Market Shares Through 2050.

Exhibit 13. OPEC’s Forecast of Growth in Solar, Wind and  Other Renewable Energy
Through 2045.

Exhibit 14. EIA’s Forecast of Growth in Major Energy  Sources Through 2050.

Exhibit 15. Annual Growth in Global Oil Consumption over Past Two Decades.

Exhibit 16. OPEC Projected Annual Growth  in Global Oil Demand.

Exhibit 17. IEA Projected Growth in Global Oil Demand.

Exhibit 18. EIA Projected Growth in Global Oil Demand.

Exhibit 19. BP Projected Annual Growth in Global Oil Demand.

Exhibit 20. EIA Forecast of Global Gas Demand Growth Through 2050.

Exhibit 21. IEEJ Forecast of Natural Gas Demand and  Market Share Growth Through 2050.

Exhibit 22. Shell Forecast of Natural Gas and  LNG Demand Through 2040.

Exhibit 23. ExxonMobil Forecast of LNG Demand  Through 2040.

Exhibit 24. Trend in Global Oil Supply.

Exhibit 25. OPEC Surplus Crude Oil Production Capacity.

Exhibit 26. IEA Projection of Global Oil Supply Requirement  Under Various Scenarios.

Exhibit 27. ExxonMobil View of Future World  Oil Supply Sources.

Exhibit 28. Trend in Worldwide Natural Gas Supply.

Exhibit 29. Projected Growth in Global Natural Gas Supply.

Exhibit 30. Global Flows of LNG in 2019.

Exhibit 31. IEA Projection of Global LNG Supply Requirement  Under Various Scenarios.

Exhibit 32. Shell Projection of Global LNG Supply Requirement

Exhibit 33. Global Unplanned Liquid Fuel Production Outages.

Exhibit 34. Global Chokepoints Where Oil Supply Disruption is a Possibility.

Exhibit 35. Natural Gas Supply to Europe.

Exhibit 36. Spot Price of Brent and WTI Crude over the Past 17 Years.

Exhibit 37. Futures Price of Brent Crude for Delivery Through 2028.

Exhibit 38. Spot Price of Henry Hub Natural Gas Since 1997.

Exhibit 39. Futures Price of Henry Hub Natural Gas for Delivery Through 2032.

Exhibit 40. Trend in US LNG Exports.

Exhibit 41. Price of US LNG Exports.

Exhibit 42. Oil and Gas Upstream Investment Spending  Over the Past Ten Years.

Exhibit 43. Estimated WTI Oil Price Needed to Justify  Investment in Drilling a New Oil Well

Exhibit 44. Estimated WTI Oil Price Needed to Cover   Operating Expenses for Existing Wells.

Exhibit 45. Rig Productivity Performance in the Permian Region.

Exhibit 46. Long Term Trend in 10 Year Sovereign Bond Interest Rates.

Exhibit 47. Trend in Production Floater Order Backlog.

Exhibit 48. Pros and Cons of FPSOs.

Exhibit 49. Where FPSOs are Currently Installed in North and South America.

Exhibit 50. Where FPSOs are Currently Installed in Europe, Africa and Asia/Pacific.

Exhibit 51. Ownership of FPSOs as of November 2020.

Exhibit 52. Trend in Number of FPSOs in Service or Available.

Exhibit 53. Number of FPSOs Ordered over the Past Ten Years.

Exhibit 54. Where FPSOs on Order are to be Installed.

Exhibit 55. Where FPSOs are now Being Built

Exhibit 56. Timing and Location of FPSO Projects in the Planning Stage.

Exhibit 57. Projects in the Planning Stage Potentially Requiring an FPSO..

Exhibit 58. FPSO Projects in the Planning Stage That Could Reach a Final Investment
Decision Within the Next Five Years.

Exhibit 59. Estimate of Projected FPSO  Orders between 2021/25.

Exhibit 60. Comparison of 2021/25 FPSO Forecast With Past Contracting Pace.

Exhibit 61. Expected Timing of FPSO Orders over the Next Five Years.

Exhibit 62. Projected FPSO Orders by Region 2021/25.

Exhibit 63. FPSOs Now Available for Redeployment

Exhibit 64. Projected FPSO Capex by Region 2021/25.

Exhibit 65. Composition of Projected FPSO Capex 2021/25.

Exhibit 66. Pros and Cons of Production Semis.

Exhibit 67. Pros and Cons of Tension Leg Platforms.

Exhibit 68. Pros and Cons of Production Spars.

Exhibit 69. Where FPUs are now Installed.

Exhibit 70. Owners of Floating Production Units.

Exhibit 71. Trend in Number of FPUs in Service or Available.

Exhibit 72. Number of FPUs Ordered over the Past Ten Years.

Exhibit 73. Where FPUs are now Being Built

Exhibit 74. Where FPUs on Order are to be Installed.

Exhibit 75. Timing of FPU Projects in the Planning Stage.

Exhibit 76. Projects in the Planning Stage Potentially Requiring an FPU..

Exhibit 77. FPU Projects in the Planning Stage That Could Reach  a Final Investment
Decision Within the Next Five Years.

Exhibit 78. Estimate of Projected FPU  Orders between 2021/25.

Exhibit 79. Forecast of FPU Orders over the Next Five Years.

Exhibit 80. Major Systems in an FLNG..

Exhibit 81. Cumulative Growth in LNG Liquefaction Capacity.

Exhibit 82. Owners of FLNGs as of November 2020.

Exhibit 83. Number of FLNGs Ordered over the Past Ten Years.

Exhibit 84. Where FLNGs on Order are to be Installed.

Exhibit 85. Projects in the Planning Stage Potentially Requiring an FLNG..

Exhibit 86. Timing of FLNG Projects in the Planning Stage.

Exhibit 87. FLNG Projects in the Planning Stage That Could Reach  a Final Investment
Decision Within the Next Five Years.

Exhibit 88. Estimate of Projected FLNG  Orders between 2021/25.

Exhibit 89. Forecast of FLNG Orders over the Next Five Years.

Exhibit 90. Cumulative Growth in LNG Regasification Capacity.

Exhibit 91. Pros and Cons of FSRUs.

Exhibit 92. Where FSRUs are Now Installed.

Exhibit 93. Trend in Number of FSRUs in Service  (Excludes FSU LNG units)

Exhibit 94. Number of FSRUs Ordered over the Past Ten Years.

Exhibit 95. Where FSRUs are now Being Built

Exhibit 96. Where FSRUs Currently on Order are to be Installed.

Exhibit 97. Location of FSRU Terminals in the Planning Queue  and Probability to Clear
the Investment Hurdle.

Exhibit 98. FSRU Terminals in the Planning Queue.

Exhibit 99. Forecast of FSRU Orders over the Next Five Years.

Exhibit 100. Age of FSO Hulls by Region of Operation.

Exhibit 101. Where FSOs are Now Installed.

Exhibit 102. Projects in the Visible Planning Stage Potentially Requiring an FSO..

Exhibit 103. Timing of FSO Projects in the Visible Planning Stage.

Exhibit 104. Forecast of FSO Orders over the Next Five Years.

The new Floating Production Systems Report – much like the market itself – is continuously changing. This Floating Production Systems report from World Energy Reports is unique in that it is not simply a static report, rather a dynamic and ever-changing database with a continuously updated wealth of data, statistics, exclusive insights and analysis and critical project management contacts designed to keep you a step ahead of the competition. Your Report, Your Way!

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