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Floating Production Systems

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


July 2010

 

Floating Production Systems
in Operation

 

 



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       

Chissonga (Angola)    

Block 17/06` (Angola)     

Agge (Nigeria)    

Browse LNG (Australia)    

Balnaves (Australia)    

Scarborough/Thebe (Australia)     

Orphan Basin (Canada)     

Mizzen (Newfoundland)    

Greater Chuditch (Timor-Leste)     

Franco (Brazil)     

Iguazu (Brazil)     

Libra (Brazil)     

Natal (Brazil)     

Pipeline/Etna (Brazil)     

Tambuata (Brazil)     

Brava (Brazil)  

Pre-Salt FSO (Brazil)    

Bienville (Gulf of Mexico)

Montevideo Regas Terminal (Uraguay)

Sea Lion (Falkland Islands)

Hadera Regas Terminal (Israel)

Ombrina Mare (Italy)

Alder (U.K.)

Catcher (U.K.)

Freya/Fulla (U.K.)

Draupne (Norway)

Greater Stella (U.K.)

Luva (Norway)

Enping Sag (China)

B6/27 (Thailand)

PV Gas FSRU (Vietnam)    

Petai (Malaysia)    

 

2. Projects in the Final Design or Bidding Stage       

Jamaica Regas Terminal (Jamaica)    

Block A (Cambodia)     

Erawan (Thailand)    

Hai Thach (Vietnam)    

 

3. New Orders       

Sidon/Tiro FPSO (Brazil)    

Tupi Nordeste FPSO (Brazil)     

Serial Pre-salt FPSOs (Brazil)    

TSB FPSO (Indonesia)    

    

4. Redeployments       

Aruana FPSO (Brazil)    

Huntington FPSO (U.K.)     

Macondo Emergency FPSOs (Gulf of Mexico)    

Pagerungan Utara FPSO (Indonesia)     

  

5. Systems On Order       

Ebok/Okwok MOPU/FSO (Nigeria)    

P 58 and P 62 FPSOs (Brazil)     

OSX 1 FPSO (Brazil)     

FlexLNG Producer 1 (Speculative)     

  

6. Systems Recently Completed       

Jubilee FPSO (Ghana)    

Ajapa production barge (Nigeria)     

Jebel Ali FSRU (Dubai)     

Tindalo FSO (Philippines)     

Bua Ban FSO (Thailand)     

Bach Ho FSO-5 (Vietnam)     

Panna Mukta FSO (India)     

FSO Africa (Qatar)     

Neptune LNG Regas (USEC)     

  

7. Existing Systems       

Xikomba FPSO (Angola)    

Kuito FPSO (Angola)    

N'Kossa II LPG FSO (Congo)    

Unity FSO (Nigeria)    

P 50 FPSO (Brazil)    

Cascade/Chinook FPSO (Gulf of Mexico)    

Opti-Ex production semi (GOM)    

Foinaven FPSO (U.K.)           

Guillemot/Teal FPSO (U.K.)    

FPF 1 production semi(U.K.)    

Asgard A FPSO (Norway)    

      

8. Decommissioning       

Challis Venture FPSO (Australia)    

   

 

III.     UNDERLYING MARKET DRIVERS

 

1.          Outlook for Global Demand Remains Bullish     

2.          World Oil Production Capacity Expected to Tighten     

3.          GOM Spill Impact Could Further Constrict Future Capacity    

4.          Oil Prices have Remained Relatively Strong   

5.          Natural Gas Prices Continue to be Soft         

6.          Oil and Gas E&P Spending is Rebounding         

7.          Production Floater Order Pace at Highest Level to Date         


V.     TECHNOLOGY AND COMPANIES

1.          Leased FPSOs Growing as Percent of Installations     

2.          Legislative and Regulatory Initiatives Threaten GOM E&D     

3.          BWO Offers to Buy Remaining Shares of Prosafe Production    

4.          Noble Corporation to Acquire Seillean FPSO   

5.          Petrobras Five Year Plan Calls for $118.8 Billion E&P capex     


List of Exhibits


1.             Current Available Floater Inventory

2.             Recent Floater Deliveries and Orders

3.             Current Order Backlog for Floating Production and Storage Systems

4.             15 Year Trend in Order Backlog for Floating Production Systems

5.             Facilities Fabricating or Converting Floating Production or Storage Units

6.             Regional Distribution of Projects in the Bidding and Final Design Stage

7.             Regional Distribution of Projects in the Planning and Study Stage

8.             Overview of Floating Production and Storage Systems in Operation

9.             Details for Current Inventory of Floating Production Systems

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

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

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

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

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

15.         Overview of Who's Building What

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

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

18.         Annual Percentage Change in Global Oil Demand

19.         Growth in World Economic Output

20.         Projected Long Term Growth in Global Oil Demand

21.         OPEC Crude Production

22.         GOM Floater Projects Impacted by Drill Moratorium

23.          Spot Price of Crude

24.          Futures Price of Crude

25.          Henry Hub Natural Gas Futures Price

26.          Long Term Trend in Orders for Floating Production Systems

27.          Leased Units as Percentage of FPSO Installations

 

 




International Maritime Associates, Inc.
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Washington D.C. 20037 USA
Tel: 1-202-333-8501
Mobile: 1-202-415-8501
Fax: 1-202-318-8114
Email: imaassoc@msn.com
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