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Floating Production Systems

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


November 2009

 

Who's Building What?

 

 



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         

Floater Projects 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     

  II.    RECENT DEVELOPMENTS

 

1. Projects in the Planning Stage       

Block 18/06 (Angola)    

Gardenia (Angola)     

Northeastern Hub (Angola)    

Bilabri/Orobiri (Nigeria)    

Venus (Sierra Leone)    

Sankofa (Ghana)     

Lady Nora (Australia)     

Oliver (Australia)    

Puffin/Talbot (Australia)     

Scarborough (Australia)     

Vesuvio Complex (Brazil)     

Piracuca (Brazil)     

Abacate (Brazil)     

Pre-Salt Gas (Brazil)     

Abare Oeste(Brazil)     

Friesian (Gulf of Mexico)     

Hadrian (Gulf of Mexico)   

Leek (Gulf of Mexico)   

Tiber (Gulf of Mexico)

Tucker (Gulf of Mexico)

Rickenbacker (Gulf of Mexico)

Jordbaer (Norway)

Tornado (U.K.)

Cluster 7 and D1 (India)

KG-DWN-98/2 (India)

Kenli (China)

Liwan (China)

Abadi (Indonesia)

Sulu Sea (Philippines)

 

2. Projects in the Final Design or Bidding Stage       

Tebe (Angola)    

Egina (Nigeria)     

Prelude FLNG (Australia)    

Tupi Pilot (Brazil)    

Bigfoot (Gulf of Mexico)    

Jack/St. Malo (Gulf of Mexico)     

Aquila 2 (Italy)    

Fyne (U.K.)     

Athena (U.K.)  

Malikai (Malaysia)    

      

3. New Orders       

Aseng FPSO (Equatorial Guinea)    

Papa Terra TLWP (Brazil)     

Papa Terra FPSO (Brazil)    

Chim Sao FPSO (Vietnam)    

TGT FPSO (Vietnam)    

 

4. Systems On Order       

PetroProd FPSO (Speculative)    

Nexus 1 FPSO (Speculative)     

FlexLNG Producers (Speculative)    

Cheviot FPSO (U.K.)     

Gjoa production semi (Norway)    

Al Shaheen FSO #2 (Qatar)     

  

5. Systems Recently Completed       

Oyo FPSO (Nigeria)    

Pyrenees FPSO (Australia)     

Van Gogh FPSO (Australia)    

Telemark MinDOC (Gulf of Mexico)     

Kakap FPSO (Indonesia)    

Ruby FPSO (Vietnam)     

Blk.B-17 FSO (Malaysia)    

Yuri Korchagin FSO (Russia)     

Al Shaheen FSO #1 (Qatar)    

Opti-Ex production semi (Available)    

  

6. Existing Systems       

Bonny River FPSO (Nigeria)    

Montara FPSO (Australia)     

Front Puffin FPSO (Available)      

Camarupim FPSO (Brazil)      

Huizhou FPSO (China)      

Alvheim FPSO (Norway)      

Shelley FPSO (U.K.)      

BW Carmen FPSO (Available) 

Varg FPSO (Norway)

Knock Nevis FSO (Available)

PY-3 FSO (India)

Madura FSO (Indonesia)    

Falcon FPSO (Available)    

Jamestown FPSO (Available)    

AH-001 production semi (Available)    

7. Decommissioning       

Griffin Venture FPSO (Australia)    

Munin FPSO (China)     


  

III.     UNDERLYING MARKET DRIVERS

 

1.          Global Economy Improving, But Uncertainty Remains     

2.          Global Oil Demand to Regain Positive Growth in 2010     

3.          OPEC Oil Producers Continue to Increase Supply    

4.          Oil Prices Have Climbed to the $70 to $80 Range   

5.          Natural Gas Prices Have Softened     

6.          Upstream Spending Projected to Fall 19 Percent in 2009        

7.          But Deepwater Drilling Activity Has Remained Strong            

8.          Production Floater Orders Have Resumed            


IV.     COMPANIES AND TECHNOLOGY

 

1.          More than 75 Field Operators have Floater Projects in the Planning Pipeline

2.          As Many as 23 Production Floaters are Now Available and Looking for Work

3.          Petrobras Plans to Invest $190 Billion in the Energy Sector Through 2013    

4.          Devon Makes Strategic Decision to Exit the Offshore Sector   




List of Exhibits

1.        Floater Deliveries and Orders Since the July Report

2.        Current Order Backlog for Floating Production and Storage Systems

3.        Order Backlog for Floating Production Systems Continues to Fall from Peak Reached in Mid-2007

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

5.         Regional Distribution of Projects in the Planning or 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 World GDP

17.      IMF Assessment of Economic Growth Momentum

18.      Annual Growth in Global Oil Demand

19.      OPEC Crude Production

20.      OPEC Effective Spare Capacity

21.      Spot Price of Crude

22.      Futures Price of Crude

23.      Henry Hub Natural Gas Futures Price

24.      Worldwide Upstream Oil and Gas Capital Expenditures

25.        Percentage Utilization of Deepwater and Midwater Drill Rigs

26.       Average Contracted Day Rate by Rig Type

27.       Long Term Trend in Orders for Floating Production Systems

28.       Top Ten Field Operators in Terms of Floater Projects Being Planned

29.       Companies With Floater Projects in the Planning Pipeline - Who's Planning What?

30.        Petrobras Estimate of Equipment and Material Requirements for Major Projects

31.        Petrobras Estimate of Time to Achieve Production Goals

 




International Maritime Associates, Inc.
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Tel: 1-202-333-8501
Mobile: 1-202-415-8501
Fax: 1-202-318-8114
Email: imaassoc@msn.com
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