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Floating Production Systems

assessment of the outlook for FPSO vessels,
production semis, TLPs and spars

April 2005

 

Growth in Production Floaters

 

 




Outline of Report

I.     CURRENT AND PLANNED FLOATING PRODUCTION SYSTEMS

 

1. Overview of the Floater Business Sector        

Recent Orders and Deliveries    

What's Now Being Built         

Trend in Order Backlog          

Current Fabrication and Conversion Activity         

Floaters Planned or Under Study    


2. Details for Floaters in Operation, On Order or Planned       

Inventory of Floating Production Systems     

Inventory of Floating Storage Systems     

Production and Storage Systems Installed Since September 1996    

Floaters Now on Order     

Floating Production Projects Planned or Under Study     

  II.    RECENT DEVELOPMENTS

 

1. Projects in the Planning Stage       

Block 17 (Angola)    

Block 18 (Angola)     

Block 31 (Angola)    

Coco Marin (Cameroon)    

Egina (Nigeria)    

Kudu (Namibia)     

Azurite Marine (Congo)     

San Pedro (Cote d'Ivoire)    

Tari (Nigeria)     

Sunrise/Troubadour (Australia)     

Barque (New Zealand)     

Albacora (Brazil)     

Laurentian Basin (Canada)     

Hebron (Canada)     

Weizhou (China)     

Trident/Great White/etc. (Gulf of Mexico)     

Telemark (Gulf of Mexico)     

Blind Faith (Gulf of Mexico)     

Thunder Hawk (Gulf of Mexico)     

Broadwater Energy (U.S. East Coast)     

Rosebank/Lochnagar (U.K.)     

Krishna Godavari (India)     

Block 43/11 (China)     

Khmer Basin (Cambodia)     

Donggala (Indonesia)     

Kebabangan (Malaysia)     

Gumusut (Malaysia)     

Malikai (Malaysia)     

Malampaya (Philippines)     

Su Tu Den (Vietnam)       

 

2. Projects in the Final Design or Bidding Stage       

Akpo (Nigeria)     

Usan/Ukot (Nigeria)     

Moho/Bilondo (Congo)     

Stybarrow (Australia)     

Tui (New Zealand)     

Maari (New Zealand)     

PDET (Brazil)    

Frade (Brazil)     

ESS 132 (Brazil)     

BM-C-8 (Brazil)     

Corocoro (Venezuela)     

Neptune (Gulf of Mexico)     

Shenzi (Gulf of Mexico)     

Gulf Gateway (Gulf of Mexico)     

Ku Maloob Zaap(Mexico)     

Skarv (Norway)     

Gendalo (Indonesia)     

Bach Ho (Vietnam)          

 

3.  New Orders and Relocations      

Agbami FPSO vessel (Nigeria)     

BMG FPSO vessel (Australia)     

Marlim Leste FPSO vessel (Brazil)    

Jubarte FPSO vessel (Brazil)     

Seillean FPSO vessel (Brazil)     

Gomez production semi (Gulf of Mexico)

Peng Lai FPSO vessel (China)

Kikeh FPSO vessel (Malaysia)  

Kikeh DTU spar (Malaysia)

Jasmine FPSO vessel (Thailand)

Rong Doi FSO vessel (Vietnam)

Modec Speculative FPSO vessels   

Belenak LPG FSO vessel (Indonesia)

Oudna FPSO vessel (Tunisia)  

    

4.  Systems On Order      

Bonga FPSO vessel (Nigeria)     

Erha FPSO vessel (Angola)     

Chinguetti FPSO vessel (Mauritania) 

Piranema SSP FPSO vessel (Brazil)

Roncador P 52 production semi (Brazil)

Marlim Sul P 51 production semi (Brazil) 

White Rose FPSO vessel (Canada) 

Independence gas production semi (Gulf of Mexico)

Atlantis production semi (Gulf of Mexico)

Thunder Horse production semi (Gulf of Mexico)  

Alvheim FPSO vessel (Norway) 

Kristin production semi (Norway)       


5. Systems Recently Completed      

Sanha/Bomboco FPSO vessel (Angola)     

Kizomba B wellhead TLP (Angola)     

Baobab FPSO vessel (Cote d'Ivoire)     

Okwori FPSO vessel (Nigeria)     

Mutineer/Exeter FPSO vessel (Australia)     

Caratinga FPSO vessel (Brazil)     

Marlim Sul P 47 FPSO vessel (Brazil)  

Xijiang FPSO vessel (China)

Mad Dog production spar (Gulf of Mexico)         

 

6. Existing Systems   

Etame FPSO vessel (Gabon)     

Girassol FPSO vessel (Angola)     

Laminaria FPSO vessel (Australia)     

Woollybutt FPSO vessel (Australia)     

Coral production semi (Brazil)     

Terra Nova FPSO vessel (Canada)     

Langsa FPSO vessel (Indonesia)     

Madura FSO vessel (Indonesia)     

Marco Polo TLP (Gulf of Mexico)     

Allegheny TLP (Gulf of Mexico)     

Cantarell FSO vessel (Gulf of Mexico)     

Pierce FPSO vessel (U.K.)     

Snorre TLP (Norway)     

Varg FPSO vessel (Norway)     

Caofeidian FPSO vessel (China)     

7. Retirements      

Ex-Cooper production semi (Gulf of Mexico)     

Ex-South Tano production semi (Gulf of Mexico)     

    

    

III.     UNDERLYING MARKET DRIVERS

 

1.          Continued Growth In Oil Demand     

2.          Supply the Major Concern --- at Least Near Term     

3.          Crude Prices Have Hit New Highs    

4.          Projected Offshore E&P Spending is Strong   

5.          Offshore Rig Activity Continues to be Strong     

6.          Orders for Production Floaters Continue to Pick Up     


IV.     FORECAST OF FLOATER REQUIREMENTS

 

1.          Summary of the Available Five Year Market     

2.          FPSO Vessels     

3.          Production Semis    

4.          Tension Leg Platform Orders   

5.          Production Spars     

 

V.    COMPANIES AND TECHNOLOGY

 

1.          Compact Liquefaction Barge     

2.          Floating Regasification of LNG    

3.          The Issue of FPSO Cracking     

4.          Suezmax Size DP FPSO with Integrated Drilling Capability     

5.          New Shipyard for Floating Production Units     

6.          ABB Floater Designs Purchased by McDermott/Keppel Fels     

7.           Cylindrical FPSO Contract Sends Sevan Marine Skyward     

8.          Nigeria Issues Overhang Offshore Potential     

9.          Angolan Government Share of Oil Revenue Declining     

    

List of Exhibits

1.          Deliveries and Orders Since the November Report  

2.          Current Orders for Production and Storage Systems    

3.         Trend in Order Backlog for Floating Production Systems   

4.          Number and Location of Facilities Fabricating and Converting Floating Production Units 

5.          Projects in the Planning, Bidding or Final Design Stage as of April 2005  

6.          Overview of Floating Production Systems and Storage Vessels in Operation or Available as of April 2005  

7.          Inventory of Floating Production Systems as of April 2005   

8.          Inventory of Floating Storage Systems as of April 2005  

9.          Floating Production and Storage Systems Installed Since September 1996   

10.      Floating Production and Storage Systems on Order as of April 2005   

11.      Overview of Who's Building What?  

12.      Location and Water Depths of Floating Production Systems Planned or Under Study as of April 2005  

13.      List of Floating Production Systems Being Bid, Designed, Planned or Studied as of April 2005   

14.      Trend in Global Oil Demand   

15.      World Oil Demand Mirrors Growth in World GDP   

16.      Actual and Futures Price of Crude    

17.     Henry Hub Natural Gas Price and Nymex Futures   

18.     Trend in Number of Active Rigs Operating Offshore the U.S. and Other Locations   

19.      Trend in Orders for Floating Production Systems  

20.      Forecast of Orders for Floating Production Units Over the Next Five Years  

21.      Orders for FPSO Vessels Over the Past Five Years  

22.     Forecast of FPSO Orders Over the Next Five Years  

23.     Composition of FPSO Orders Over the Next Five Years  

24.     Projected Capex for FPSO Vessels Over the Next Five Years  

25.      Orders for Production Semis Over the Past Five Years  

26.     Forecast of Production Semi Orders Over the Next Five Years  

27.      Composition of Production Semi Orders Over the Next Five Years  

28.      Projected Capex for Production Semis Over the Next Five Years  

29.     Orders for TLPs Over the Past Five Years  

30.      Forecast of TLP Orders Over the Next Five Years  

31.      Composition of TLP Orders Over the Next Five Years  

32.      Projected Capex for TLPs Over the Next Five Years  

33.     Orders for Production Spars Over the Past Five Years  

34.      Forecast of Spar Orders Over the Next Five Years  

35.      Composition of Orders for Production Spars Over the Next Five Years 

36.      Projected Capex for Production Spars Over the Next Five Years  

37.      Cracking and Corrosion Risk in FPSOs  

38.      Cylindrical SSP Designs  

 

 

 

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