International Maritime Associates, Inc.     |   home

March 2013 Report | November 2012 Report | July 2012 Report | April 2012 Report | November 2011 Report | July 2011 Report | March 2011 Report | November 2010 Report | July 2010 Report | March 2010 Report | November 2009 Report | July 2009 Report | April 2009 Report | December 2008 Report | July 2008 Report | March 2008 Report | November 2007 Report | July 2007 Report | March 2007 Report | November 2006 Report | July 2006 Report | March 2006 Report | November 2005 Report | July 2005 Report | April 2005 Report | November 2004 Report | July 2004 Report | March 2004 Report | October 2003 Report | June 2003 Report | February 2003 Report | August 2002 Report | April 2002 Report | November 2001 Report | July 2001 Report | February 2001 Report | September 2000 Report | April 2000 Report | December 1999 Report | August 1999 Report | March 1999 Report | November 1998 Report | July 1998 Report | March 1998 Report | October 1997 Report | June 1997 Report | February 1997 Report | September 1996 Report


 

Floating Production Systems

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


November 2010

 

Ten Field Operators Account for 52 Percent
of Floater Projects Being Planned
(number of projects)

 

 



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       

Odum (Ghana)    

Owo (Ghana)     

Mer Tres Profonde (Ghana)    

Etame (Gabon)    

Ibhubesi (South Africa)    

Clarence Moreton Basin LNG (Australia)     

Brederode LNG (Australia)     

Bonaparte LNG (Australia)    

Aracaju (Brazil)     

Belem (Brazil)     

Barra (Brazil)     

BM-S-54 (Brazil)     

Itauna (Brazil)     

Gunflint (Gulf of Mexico)     

Mad Dog 2 (Gulf of Mexico)     

Lucius (Gulf of Mexico)     

Adria FSRU (Croatia)   

Anne Marie (Faroe Islands)   

Avaldsnes (Norway)

Cladhan (U.K.)

Luno (Norway)

Ubah (Malaysia)

Badik (Indonesia)

PNG FLNG (Papua New Guinea)

Sepat Deep (Malaysia)

Lac Da Vang (Vietnam)

Ham Rong (Vietnam)

Chittagong LNG (Bangladesh)

 

2. Projects in the Final Design or Bidding Stage       

Block 15/16 (Angola)    

Guaiama (Brazil)     

Tupi Area (Brazil)    

Waimea 2 (Brazil)    

Bienville LNG (Gulf of Mexico)    

Olympus (Gulf of Mexico)     

Medan LNG (Indonesia)    

Belida (Indonesia)     

Salawati (Indonesia)  

Sepanjang (Indonesia)    

Arthit (Thailand)    

      

3. New Orders       

Clov FPSO (Angola)    

Tubular Bells production semi (Gulf of Mexico)     

Widuri FSO (Indonesia)    

West Java FSRU (Indonesia)    

Escobar FSRU (Argentina)    

 

4. Systems On Order       

FlexLNG Producers 1 through 4 (Speculative)    

Sidon/Tiro FPSO (Brazil)     

Serial Pre-Salt FPSOs (Brazil)    

P 58 and P 62 FPSOs (Brazil)     

  

5. Systems Recently Completed       

Ebok MOPU/FSO (Nigeria)    

Peregrino FPSO (Brazil)     

Guara FPSO (Brazil)    

Jubarte FPSO (Brazil)     

Tupi Pilot FPSO (Brazil)    

Yme MOPU (Norway)     

  

6. Existing Systems       

Abo FPSO (Nigeria)    

Okwori FPSO (Nigeria)     

Griffin Venture FPSO (Available)      

BMG FPSO (Australia)      

Montara FPSO (Australia)      

Tupi EWT (Brazil)      

Seillean FPSO (Gulf of Mexico)      

Hoegh LNG SRVs (USEC) 

Hummingbird FPSO (U.K.)

Curlew FPSO (U.K.)

Njord production semi (Norway)

Norne FPSO (Norway)

Al Shaheen 2 FSO (Qatar)

Bahia Blanca FSRU (Argentina)  

7. Redeployments       

Canapu FPSO (Brazil)    

Phoenix FPU (Gulf of Mexico)     


8. Decommissioning       

BMG FPSO (Australia)    

Knock Dee FSO     

Nan Hai Kai Tuo FPSO (China)     


  

 

III.     UNDERLYING MARKET DRIVERS

 

1.          Global Oil Demand Continues to Grow     

2.          Meeting Long Term Demand Requires New Sources of Oil     

3.          Oil Prices Have Remained Strong    

4.          But Natural Gas Prices Continue to Soften   

5.          GOM Spill Impact on Deepwater Production Limited     

6.          Deepwater Drill Rig Utilization at 84 Percent - Up From 2009        

7.          E&P Spending Plans Remain Strong            

8.          Production Floater Order Pace Recently Below Long Term Average            


IV.     TECHNOLOGY AND COMPANIES

 

1.          Ten Field Contractors Control More Than 50 Percent of Floater Projects in the Planning Stage     

2.          Eleven Production Floaters are Off-field and Available for Reuse     

3.          Local Content Policies are Changing the Competitive Landscape for Production Floater Fabrication    

4.          NOV Purchases APL to Position in Turret Market   

5.          BWO Completes Acquisition of Prosafe Production   


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.             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 Growth in Global Oil Demand

19.         Growth in World Economic Output

20.         Economic Growth in Advanced and Emerging Countries

21.         OPEC Crude Production

22.         Projected Long Term Sources of Global Oil Supply

23.          Spot Price of Crude

24.          Futures Price of Crude

25.          Henry Hub Natural Gas Futures Price

26.          Utilization of Deepwater Drill Rigs

27.          Long Term Trend in Orders for Floating Production Systems

28.          Ten Major Field Operators Planning New Floater Projects

29.          Companies with Floater Projects in the Planning Pipeline - Who's Building What

30.          Available Floating Production Units

 

 




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
Email: imaassoc@msn.com
Website: www.imastudies.com