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Floating Production Systems

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


July 2011

 

Almost 200 Floater Projects
are Planned or Under Study

 

 



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       

Etinde Sapele (Cameroon)    

Dussafu Ruche` (Gabon)     

Paradise (Ghana)    

Teak (Ghana)    

Sankofa (Ghana)    

Chaza (Tanzania)     

Cash-Maple, Oliver, Southern (Australia)     

BM-ES-22 (Brazil)    

Corcovado (Brazil)     

ATP-AB (Brazil)     

Gavea (Brazil)     

Harpia (Brazil)     

Brigadeiro (Brazil)     

EWT/EPS FPSO (Brazil)     

Peregrino South (Brazil)     

Ballicatters (Canada)  

Piklis (Mexico)    

Mariner/Bressay (U.K.)

Klaipeda (Lithuania)

Norvarg (Norway)

Ormen Lange (Norway)

Skrugard (Norway)

Snorre 2040 (Norway)

Dhirubhai (India)

E6 (Malaysia)

Block H (Malaysia)

 

2. Projects in the Final Design or Bidding Stage       

La Creciente (Columbia)    

Cernambi (Brazil)     

Hadrian (Gulf of Mexico)    

ECO IV (Gulf of Mexico)    

Belud (Malaysia)    

Elk/Antelope LNG (Papua New Guinea)    

Cadlao (Philippines)    

 

3. New Orders       

Ngoma FPSO (Angola)    

Prelude FLNG (Australia)     

Balnaves (Australia)     

OSX 2 FPSO (Brazil)     

OSX 3 FPSO (Brazil)     

OSX 4 FPSO (Brazil)     

OSX 5 FPSO (Brazil)     

Guara-Norte FPSO (Brazil)     

Lucius production spar (Gulf of Mexico)     

Mad Dog 2 production spar (Gulf of Mexico)     

Knarr FPSO (Norway)     

Triton FSRUs (Italy)    

D1 FPSO (India)    

    

4. Systems on Order       

Tubular Bells production spar (Gulf of Mexico)    

Huntington FPSO (U.K.)     

Hai Thach FSO (Vietnam)    

FPSO DP1 (Speculative)     

     

5. Systems Recently Completed       

PSVM FPSO (Angola)    

Kitan FPSO (Australia)     

Marlim Sul P 56 production semi (Brazil)     

Aruana FPSO (Brazil)     

Who Dat production semi (Gulf of Mexico)     

TGT FPSO (Vietnam)     

Chim Sao FPSO (Vietnam)     

Escobar FSRU (Argentina)     

Deep Panuke MOPU (Canada)     

  

6. Existing Systems       

ECO III FPSO    

Cossack Pioneer FPSO    

Jasmine Venture FPSO    

Cidade de Sao Vincente FPSO    

Voador production semi (Brazil)    

     

III.     UNDERLYING MARKET DRIVERS

 

1.          Global Oil Demand Continues to Grow     

2.          Supply Sources are Increasingly Unreliable     

3.          Oil Prices Remain Strong    

4.          Global Glut of Natural Gas Having Mixed Impact   

5.          Strong E&P Spending Expected in 2011         

6.          Fourteen Production Floaters Ordered Since March         


IV.     COMPANIES AND TECHNOLOGY

1.          Water Depth of Production Floater Installations Increasing     

2.          Petrobras to Invest $127.5 Billion in E&P Over Next Five Years     

3.          Brazil Policy Emphasizing Local Content    

4.          Sevan Attempting to Restructure   

5.          Bumi Armada Raises Almost US$900 Million in an IPO   

6.          OSX Gets US$1.7 Billion Financing to Build Acu Shipyard     

 


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.         Global Oil Demand Growth vs World Output Growth

20.         Economic Growth in Advanced and Emerging Countries

21.         OPEC Crude Production

22.         Projected Global Crude Demand/Supply Balance

23.          Spot Price of WTI Crude

24.          Futures Price of Crude

25.          Henry Hub Natural Gas Futures Price

26.          Long Term Trend in Orders for Floating Production Systems

27.          Average Project Water Depth of Production Floaters

28.          Water Depth Distribution of Floating Production Installations

29.          Petrobras Oil and Gas Production Targets

 




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