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Floating Production Systems

assessment of the outlook for FPSOs,
Semis, TLPs, Spars, and FSOs

July 2008


Floating Production Projects
Planned or Under Study



Outline of Report




1. Overview of the Floater Business Sector        

Recent Orders, Deliveries and Relocations    

What's Now Being Built         

Trend in Order Backlog          

Where Destined          

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/Offloading Systems Installed Since 1996    

Floaters Now on Order     

Floating Production Projects Planned or Under Study     



1. Projects in the Planning Stage       


Block I (Equatorial Guinea)     

Ofrima (Nigeria)    

Ebok (Nigeria)    

Banda (Mauritania)    

Kitan (Australia)     

Crux LNG (Australia)     

Bahia REC-T-31 (Brazil)    

Bem-te-Vi (Brazil)     

Potiguar Basin BT-POT-4 (Brazil)     

DP-4 (Brazil)     

Tupi Long Term (Brazil)     

Lloyd Ridge Gas Hub (Gulf of Mexico)     

Falconara FSRU (Italy)     

Jordbaer (Norway)     

Torphins (Norway)     

Huntington (U.K.)     


2. Projects in the Final Design or Bidding Stage       

Block 31 FPSO (Angola)    

PetroSA LNG Regas (South Africa)     

Tupi Pilot (Brazil)    

Pinauna (Brazil)    

Jack/St. Malo (Gulf of Mexico)    

Prelude LNG (Australia)     

Triton LNG (Italy)    

Cosmos (Tunisia)     

Goliat (Norway)    

Kangean PSC (Indonesia)    

Te Giac Trang/Hai Su Trang (Vietnam)    

Hoegh FLNG     


3. New Orders and Relocations       

Bilabri FPSO vessel (Nigeria)    

Oyo FPSO vessel (Nigeria)     

BMG FPSO vessel (Australia)    

Cossack/Wanaea FPSO vessel (Australia)    

Cachalote FPSO vessel (Brazil)    

Roncador 4 FPSO vessel (Brazil)     

Tupi FPSO vessel (Brazil)     

Telemark 2 MinDOC (Gulf of Mexico) 

Cheviot production semi (U.K.)  

Athena FPSO vessel (U.K.)

Foreland Basin LNG production vessel (Papua New Guinea)     

Ahmadi FSRU (Kuwait) 

Flex LNG production vessels 3 and 4 (Speculative)  

Golar LNG FSRU (Speculative)


4. Systems On Order       

Crux FPSO vessel (Australia)    

Hoegh LNG RVs (USEC)     

Exmar/Excelerate LNG RVs    

Dubai FSRU (UAE)     

Nortechs FSPO Spec 2 (out)    

Nexus FPSO Spec 1 and 2     

Modec Venture 1 FPSO vessel (available)    

AGR/Helix FPSO spec (out)     

MPF 01 FPSO Speculative    


5. Systems Recently Completed       

Akpo FPSO vessel (Nigeria)    

Saxi-Batuque FPSO vessel (Angola)     

Moho/Bilondo production barge (Congo)    

Kalamu FSO vessel (Congo)     

Maari FPSO vessel (Australia)    

Pecem LNG FSRU (Brazil)     

Bahia Blanca FSRU (Argentina)    

Shenzi TLP (Gulf of Mexico)     

MA FPSO vessel (India)    

Wenchang FPSO vessel (China)    

Rang Dong FSO (Vietnam)     

Arthit FPSO vessel (Thailand)    


6. Existing Systems       

Okono FPSO vessel (Nigeria)    

Bonga FPSO vessel (Nigeria)     

Woollybutt FPSO vessel (Australia)      

Tui FPSO vessel (New Zealand)      

BW Carmen FPSO vessel (U.K.)      

Alvheim FPSO vessel (Norway)      

Norne FPSO vessel (Norway)      

Falcon FPSO vessel (Off Field)      

7. Decommissioning       

Caribbean Blue FSO vessel    




1.          Oil Demand Continues to Grow     

2.          Crude Supply Remains Tight     

3.          Oil Prices Reached Record Levels    

4.          E&P Activity Worldwide Remains Strong   

5.          Production Floater Order Intake Again Above Long Term Average         



1.          Profile of FPSO Lease Expirations     

2.          LNG Liquefaction Floaters Generating Lots of Interest     

3.          StatoilHydro Building First Full Scale Wing Turbine Floater    

4.          Acquisition of Candidate FSPO Hulls Continues   

5.          Offshore Drilling Ban in U.S. Under Review     

List of Exhibits

1.         Floater Deliveries and Orders Since the March Report

2.         Current Order Backlog for Floating Production and Storage Systems

3.         Order Backlog for Floating Production Systems Has Dropped Slightly

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

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

6.           Overview of Floating Production and Storage Systems in Operation

7.           Details for Current Inventory of Floating Production Systems

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

9.          Overview of Floating Production and Storage/Offloading Systems Since 1996

10.        Details for Floating Production and Storage/Offloading Systems Installed Since 1996

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.        Annual Growth in Global Oil Demand

17.        Non-OPEC Supply Growth 2007-2009

18.        Actual and Futures Price of Crude

19.        Henry Hub Natural Gas Price and Nymex Futures

20.       Petrobas Plan for Contracting New Rigs and Drilling Units Through 2017

21.       Long Term Trend in Orders for Floating Production Systems

22.        FPSO Firm Lease Period Expirations

23.        Flex LNG Producer


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