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Floating Production Systems

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

November 2006


Production Floater
Order Backlog Climbing
(Units on Order)



Outline of Report



1. Overview of the Floater Business Sector        

Recent Orders, Deliveries and Relocations    

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/Offloading Systems     

Production and Storage Systems Installed Over the Past Ten Years    

Floaters Now on Order     

Floating Production Projects Planned or Under Study     



1. Projects in the Planning Stage       


Clov (Angola)     

EOV (Gabon)    

Pelican (Mauritania)    

Amulet (Australia)    

Sunrise (Australia)     

Theo (Australia)     

Papa Terra (Brazil)    

Tupi (Brazil)     

Urugua/Tambau (Brazil)     

Baleia Azul (Brazil)     

Marlim Sul 4 (Brazil)     

Roncador 4 (Brazil)     

Cachalote (Brazil)     

Cavalo Marinho (Brazil)     

Knotty Head (Gulf of Mexico)     

Pony (Gulf of Mexico)     

Stones (Gulf of Mexico)     

Gotcha (Gulf of Mexico)     

Sognelfjord (Gulf of Mexico)     

Maximino (Mexico)     

Castor (Spain)     

Cluster 7 (India)     

Port Qasim (Pakistan)     

Dua (Vietnam)     


2. Projects in the Final Design or Bidding Stage       

Block 31 (Angola)    

Usan (Nigeria)     

Bosi (Nigeria)    

Tiof (Mauritania)    

Pyrenees (Australia)    

Pipa 2 (Brazil)     

Pecem/Guanabara LNG Regas (Brazil)     

Peregrino (Brazil)    

ESS- 164 (Brazil)    

ESS- 130 (Brazil)    

Corocoro (Venezuela)    

Yme (Norway)    

Livorno LNG Regas (Italy) 

Jack (Gulf of Mexico)

Cascade (Gulf of Mexico)

Mariner (U.K.)

MA (India)

Gendalo (Indonesia)

Gehem/Ranggas (Indonesia)

Kambuna (Indonesia)   


3. New Orders       

Gimboa FPSO vessel (Angola)    

TBD FPSO vessel (Africa)     

Montara FPSO vessel (Australia)    

Parque das Conchas FPSO vessel (Brazil)    

Siri FPSO vessel (Brazil)    

Pemex EWT 3 (Mexico)     

Perdido production spar (Gulf of Mexico)     

Phoenix production vessel (Gulf of Mexico)  

Telemark MinDoc production floater (Gulf of Mexico)  

Thunder Hawk production semi (Gulf of Mexico)

Gjoa production semi (Norway)

FPSO East Fortune (Indonesia)

Calauit production/drill semi (Philippines)

Arthit FPSO vessel (Thailand)

Rang Dong FSO vessel (Vietnam)

Aker Smart 3 FSO vessel (Malaysia)

Deep Producer FPSO vessel (speculative)

MPF 1000 FDPSO vessel (speculative)      


5. Systems On Order       

Saxi FPSO vessel (Angola)    

Mondo FPSO vessel (Angola)     

Bilabri FPSO vessel (Nigeria)    

Puffin FPSO vessel (Australia)    

Maari FPSO vessel (New Zealand)    

Piranema SSP FPSO vessel (Brazil)    

Hummingbird SSP FPSO vessel (U.K.)    

OPTI - EX production semi (Gulf of Mexico)    

Independence production semi (Gulf of Mexico)    

SSP 3 FPSO vessel (speculative)    

SSP 4 FPSO vessel (North Sea)    

Aker Smart 1 and 2 FPSO vessels (speculative)    


6. Systems Recently Completed       

Dalia FPSO vessel (Angola)    

P 34 FPSO vessel (Brazil)     

Atlantis production semi ( Gulf of Mexico)      

Oudna FPSO vessel (Tunisia)      

Brotojoyo FPSO vessel (Indonesia) 

Rong Doi FSO (Vietnam)

Cendor MOPU and FSO vessel (Malaysia)

Maleo MOPU (Indonesia)


7. Existing Systems       

Okono FPSO vessel (Nigeria)    

Enfield FPSO vessel (Australia)     

Gomez production semi (Gulf of Mexico)      

Thunder Horse production semi (Gulf of Mexico)      

Terra Nova FPSO vessel (Newfoundland)      

Okha FSO vessel (Russia)      

Galley production semi (U.K.)      

PY-3 production semi (India)      

Bombay High FPSO vessel (India) 

Baram FPSO vessel (Malaysia)

Dai Hung production semi (Vietnam)




1.          Global Oil Demand Continues to Grow     

2.          Oil and Natural Gas Futures Prices Remain Strong     

3.          E&P Spending Outlook Remains Generally Positive    

4.          Drill Rig Demand and Utilization is Very Strong   

5.          Production Floater Orders Have Spiked         

6.          But Don't Forget The S Curve --- and Future Redeployments         




1.          Market Share of Leased FPSO Owners     

2.          Economics of FPSO Field Abandonment     

3.          Recent M&A Activity in the FPSO Market    

4.          Growing Role of China in Floating Production Systems   

5.          Nigerian Local Content Requirements     

6.          Modec Teams With Natco for the FPSO Market

List of Exhibits

1.        Floater Deliveries and Orders Since the July Report

2.        Current Order Backlog for Floating Production and Storage Systems

3.        Ten Year Trend in Order Backlog for Floating Production Systems

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

5.        Regional Distribution of Projects in the Planning or Bidding/Final Design Stage

6.        Floater Projects in the Planning Pipeline by Field Operator

7.        Overview of Floating Production and Storage Systems in Operation

8.        Details for Current Inventory of Floating Production Systems

9.         Details for Current Inventory of Floating Storage/Offloading Systems

10.     Details for Floating Production and Storage Systems Installed over the Past Ten Years

11.     Overview of Where Floaters on Order Are to be Installed

12.     Details for Floating Production and Storage Systems Currently on Order

13.     Overview of Who's Building What

14.     Regional Distribution and Water Depth of Floaters Planned or Under Study

15.     Details for Floating Production Systems Being Bid, Designed, Planned or Studied

16.     Trend in Global Oil Demand

17.     Regional Growth in Oil Consumption

18.      Actual and Futures Price of Crude

19.      Henry Hub Natural Gas Price and Nymex Futures

20.     Trend in Active Offshore Drill Rigs

21.      Trend in Offshore Rig Score

22.      Ten Year Trend in Orders for Floating Production Systems

23.      Floating Production Systems Orders and the S Curve

24.      Market Share of Leased FPSO Owners

International Maritime Associates, Inc.
1250 24th Street N.W. Suite 350
Washington D.C. 20037 USA
Tel: 1-202-333-8501
Mobile: 1-202-415-8501
Fax: 1-202-318-8114