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Floating Production Systems

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

April 2012


Floating Production Projects
in the Planning Stage



Outline of Report




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       

Breakdown of Production and Storage Floaters by Type and Location     

Inventory of Floating Production Systems     

Inventory of Floating Storage/Offloading Systems    

Production and Storage/Offloading Systems Installed Since 1996    

Where Production and Storage Floaters Are Being Built     

Details on Current Order Backlog     

Overview of Where Floating Production Projects are Planned     

Summary of Planned Projects by Location and Water Depth    

Details on Floating Production Projects Planned or Under Study    



1. Projects in the Planning Stage       

Azul (Angola)    

Cameia` (Angola)     

Block CI-401 (Ivory Coast)    

Narina (Liberia)    

Mamba (Mozambique)    

Zabazaba (Nigeria)     

Poseidon LNG (Australia)     

Crux Liquids (Australia)    

Nordeste de Tupi (Brazil)     

BM-S-42 (Brazil)     

Rio Grande regas terminal (Brazil)     

Fortaleza (Brazil)     

Carcara (Brazil)     

Pre-Salt Santos Basin (Brazil)     

Cantarell (Gulf of Mexico)     

Heidelberg (Gulf of Mexico)  

Block 5(c) (Trinidad)    

Lancaster (U.K.)

Fyne (U.K.)

Skarfjell (Norway)

Maria (Norway)

Tamar/Leviathan Gas (Israel)

Beirut Regas Terminal (Lebanon)

Majnoon (Iraq)

GS 29 (India)

Gau Chua (Vietnam)

Ande Ande Lumut (Indonesia)

Jangkrik (Indonesia)

Yancheng regas terminal (China)

Yantai regas terminal (China)

2. Projects in the Final Design or Bidding Stage       

Lucapa (Angola)    

Tweneboa/Eneyenra (Ghana)     

Santos Basin OET (Brazil)    

Aruba Regas Terminal (Aruba)    

Jack/St. Malo Production Semi (Gulf of Mexico)    

Aasta Hansteen Production Spar (Norway)    

Andhra Pradesh regas terminal (India)  

Widuri (Indonesia)  

Belud (Malaysia)

Terengganu FPSO (Malaysia) 

PM 301 EPS FPSO (Malaysia)   


3. New Orders       

Ichthys FPSO (Australia)    

Ichthys Production Semi (Australia)     

Crystal Ocean FPSO (Gulf of Mexico)     

La Creciente FLRSU (Brazil)     

MWCC Spill Capture FPSO#2 (Gulf of Mexico)     

Aguirre FSRU (Puerto Rico)     

Franco/ToR P 74, P 75, P 76 and P 77 FPSOs (Brazil)     

UOTE FSO (Brazil)     

Alma FPSO (U.K.)     

Thang Long/Dong Do FPSO (Vietnam)     

Tianjin FSRU (China)     

Hoegh FSRU (Speculative)    

Golar FSRUs 2031 and 2024 (Speculative) 

WO-16 Cluster MOPU (India) 

West Desaru MOPU (Malaysia)  


4. Systems on Order       

Leased Pre-Salt FPSOs    

Serial Purpose-Built FPSOs     

Transfer of Rights Area FPSOs    


5. Systems Recently Completed       

Usan FPSO (Nigeria)    

Firenze FPSO (Italy)     

BW Athena FPSO (U.K.)     

BW Joko Tole FPSO (Indonesia)     

West Java FSRU (Indonesia)     

Khalij-E-Fars FSU (Iran)      


6. Existing Systems       

Kwame Nkrumah FPSO (Ghana)    

Azurite FPSO (Congo)    

Dynamic Producer FPSO (Brazil)    

Modec Venture 11 FPSO (Brazil)    

Cidade de Sao Vincente FSPO (Brazil)

Marlim Sul FPSO (Brazil) 

Frade FPSO (Brazil)

BW Pioneer FPSO (Gulf of Mexico)

N'Kossa II FSO (Congo)

Kuito FPSO (Angola)

Ningaloo Vision FPSO (Australia)

Thunder Hawk production semi (Gulf of Mexico)

Petrojarl I FPSO (Norway)

Banff FPSO (Norway)

Lewek Arunothai FPSO (Available)  

7. Scrapping       

Ruby Princess FPSO    

Challis Venture FPSO    

Jabiru Venture FPSO       




1.          Global Oil Demand Continues to Grow     

2.          New Sources of Energy Supply are Needed     

3.          Oil Prices Remain Strong    

4.          E&P Capital Expenditure Budgets Growing   

5.          Deepwater Drilling Capability Greatly Expanding         

6.          Recent Production Floater Orders at Near Record Pace         


1.          Summary of Five Year Market     

2.          Forecast Scenarios     

3.          FPSOs    

4.          Production Semisubmersibles   

5.          Production Spars   

6.          Tension Leg Platforms     

7.          FLNGs     

8.          FSRUs     

9.          FSOs     


1.          Six Companies Own 44% of FPSOs in Sevice and On Order     

2.          Petrobras Plans 66 Exploration Wells Offshore Brazil in 2012     

3.          Comparative Project Cost Utilizing Leased and Owned FPSOs    

4.          Exmar has Developed New Floating Liquefaction Unit   

5.          SBM to Focus on Core FPSO Products   

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.          Order Backlog for Floating Production Systems is Now at 67 Units

5.          Number and Location of Facilities Fabricating or Converting Floating Production 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.          Breakdown 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.       Floating Production and Storage/Offloading Systems Installed Since 1996

12.       Overview of Who's Building What

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

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

15.         Breakdown of Planned Projects by Region and Water Depth

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

17.         Santos Basin Pre-Salt FPSO Commitments to Date

18.         Annual Growth in Global Oil Demand

19.         Global Oil Demand Growth 2010/2011/2012

20.         Economic Growth in Advanced and Emerging Economies

21.         IEA Forecast of Energy Demand Through 2035

22.         OPEC Crude Production

23.         Spot Price of WTI Crude

24.         Trend in Orders for Floating Production Systems

25.         Trend in Number of FPSOs in Service or Available

26.         Number of FPSOs Ordered Over the Past Ten Years

27.         Number of FPSO Projects in the Planning Stage

28.         Forecast of Annual FPSO Orders Over Next Five Years

29.         Trend in Number of Production Semis in Service

30.          Number of Production Semis Ordered Over the Past Ten Years

31.          Number of Production Semi Projects in the Planning Stage

32.          Forecast of Annual Production Semi Orders Over Next Five Years

33.          Trend in Number of Production Spars in Service

34.         Number of Production Spars Ordered Over the Past Ten Years

35.          Number of Production Spars in the Planning Stage

36.          Forecast of Annual Production Spar Orders Over Next Five Yers

37.          Trend in Number of TLPs in Service

38.          Number of TLPs Ordered Over the Past Ten Years

39.          Number of TLP Projects in the Planning Stage

40.          Forecast of Annual TLP Orders Over Next Five Years

41.          Number of FLNGs Ordered Over the Past Ten Years

42.          Number of FLNG Projects in the Planning Stage

43.          Trend in Number of FSRUs in Service

44.          Number of FSRUs Ordered Over the Past Ten Years

45.         Number of FSRU Projects in the Planning Stage

46.          Forecast of Annual FSRU Orders Over Next Fie Years

47.           Forecast of Annual FSO Orders Over Next Five Years

48.          Major Owners of FPSOs

49.          Ownership of FPSOs by Companies with Multiple Units

50.          Where Petrobras Plans Exploration Drilling in 2012

51.          Comparative Cost of Leased vs Owned FPSOs on Pre-Salt Fields


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