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Floating Production Systems

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


March 2013

 

Orders for Production Floaters to
Grow over the Next Five Years

 

 


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    

Floater Production Database    


2. Details for Floaters in Operation, On Order or Planned       

Breakdown of Production and Storage Floaters by Type and Region     

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    

  II.    RECENT DEVELOPMENTS

 

1. Floater Prospects in the Planning Stage       

Benin LNG (Benin)    

Aje`(Nigeria)     

Bonga North (Nigeria)    

Bonga Southwest/Aparo (Nigeria)    

Zabazaba (Nigeria)    

Lavani/Zafarani (Tanzania)     

Tartaruga Verde/Mestica (Brazil)     

Barra (Brazil)    

Moita Bonita/Muriu (Brazil)     

Caxareu/Pirambu-Sul Parque Baleias (Brazil)     

Indra/Arjuna (Brazil)     

Siri Long Term (Brazil)     

Columbia Regas(Columbia)     

Paraiso (Nicaragua)     

Darwin (North Falkland Basin)     

Gunflint (GOM)  

Main Pass Energy Hub (GOM)

North Platte(GOM)    

South Texas LNG (GOM)    

Vicksburg/Appomattox (GOM)    

Fram (U.K.)    

Skrugard/Havis (Norway)    

Tamar (Israel)    

Aqaba New LNG Terminal (Jordan)    

Cosmos (Tunisia)    

Ras el Besh (Tunisia)

Fujairah LNG Terminal (UAE)    

Layang (Malaysia)    

Malampaya (Philippines)    

Liuhua 11-1 (China)    

Tianjin Regas Terminal - Phase 2 (China)    

West Seahorse (Australia)    


2. Floaters in the Final Design or Bidding Stage       

Blk 15/06 East Hub (Angola)    

Cameia (Angola)     

Chissonga (Angola)    

Moho Nord (Congo) 

Kudu (Namibia)  

Mossel Bay LNG (South Africa)    

Maromba (Brazil)    

Olivia/Atlanta (Brazil)    

Montevideo Regas Terminal (Uruguay)    

Pony/Knotty Head (GOM)    

Stones (GOM)    

ECO IV DP FPSO (Mexico)    

Soldado (Trinidad)    

Martin Linge (Norway)    

Mariner/Bressay (U.K.)    

Rosebank/Lochnagar (U.K.)    

Egypt LNG Terminal (Egypt)    

Beirut Regas Terminal (Lebanon)    

Leviathan (Israel)    

C-24P (India)    

Abadi (Indonesia)    

Madura BD (Indonesia)    

Angsi CEOR (Malaysia)    

Bertam (Malaysia)    

West Linapacan (Philippines)    

Equus (Australia)    

   

3. New Orders       

Gas Atacama FSRU (Chile)    

Heidelberg SPAR (GOM)     

B-127 Cluster FPSO (India)     

Cluster 7 FPSO (India)     

Bualuang FSO (Thailand)     

Malikai TLP (Malaysia)     

BW Speculative FSRU     

       

4. Systems on Order       

Papa Terra P63 FPSO    

Parque das Baleias P58 FPSO    

Gulfstar I Spar (GOM)    

Knarr FPSO (Norway)    

Alma FPSO (U.K.)    

Cheviot SEMI (U.K.)   

Kamelia FPSO (Malaysia)

Widuri FSO (Indonesia)   

  

5. Systems Recently Completed       

FPS 5 MOPU (Malaysia)    

  

6. Existing Systems       

Kuito FPSO (Angola)    

Abo FPSO (Nigeria)    

Sende Berge FPSO (Nigeria)    

Usan FPSO (Nigeria)    

Brasil FPSO (Brazil)

Cidade de Sao Paulo MV23 FPSO (Brazil) 

Extended Well Tests - 4 FPSOs (Brazil)

Golar Winter FSRU (Brazil)

Petrojarl Cidade de Itajai FPSO/Atlantic Zephyr Semi/Avare FSO (Brazil)

Alvheim FPSO (Norway)

Hoewene Brim FPSO (U.K.)

North Sea Producer FPSO (U.K.)

Modec Venture II FPSO (Australia)

Ngujima Yin FPSO (Australia)

Nigaloo Vision FPSO (Australia)

PTAP-One FPSO (Indonesia)

Rubicon Intrepid FPSO (Philippines)

Rubicon Vantage FPSO (Thailand)

      

III.     UNDERLYING MARKET DRIVERS

 

1.          Growth in Global Oil Demand Continues to Grow     

2.          Oil Supply Remains Vulnerable to Shocks and Shortages    

3.          Oil Prices Remain Strong    

4.          Deepwater Drilling Continues at High Utilization   

5.          Production Floater Orders Near Long Term Average Pace         

       

IV.     FORECAST OF FLOATER REQUIREMENTS 2013-2017

 

1.          Summary of Five Year Market     

2.          Forecast Scenarios    

3.          Floating Production, Storage and Offloading Vessels (FPSOs)    

4.          Production Semisubmersibles   

5.          Production Spars   

6.          Tension Leg Platforms (TLPs)   

7.          Floating Liquefied Natural Gas Vessels (FLNGs)   

8.          Floating Storage and Regasification Units (FSRUs)   

9.         Floating Storage and Offloading Vesels (FSOs)         

       

V.    COMPANIES AND TECHNOLOGY

1.          Six Owners Have 43 Percent of ALL FPSOs In Service or On Order    

2.          Deeper Waters for Floating Production Units    

3.          Unwinding Speculative Orders    

4.          Why FPSO Capex and Lease Rates in Brazil Vary So Much   

5.          Pre-Salt Production Hits 300,000 Barrels Per Day in Record Time   

 



List of Exhibits

1.             Current Available Inventory

2.             Recent Floater Deliveries and Orders

3.             Current Order Backlog for Floating Production and Storage Systems

4.             Order Backlog for Floating Production Systems

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

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

7.             Breakdown of Floating Production and Storage Systems in Operation

8.             Details for Current Inventory of Floating Production Systems

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

10.         Floating Production and Storage/Offloading Systems Installed Since 1996

11.         Overview of Who's Building What

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

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

14.         Breakdown of Planned Projects by Region and Water Depth

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

16.         Annual Growth in Global Oil Demand

17.         OPEC Crude Production

18.         Spot Price of WTI and Brent Crude

19.         Trend in Orders for Floating Production Systems

20.         Trend in Number of FPSOs in Service or Available

21.         Number of FPSOs Ordered Over the Past Ten Years

22.         Number of FPSO Projects in the Planning Stage

23.         Forecast of FPSO Orders Over the Next Five Years

24.         Trend in Number of Production Semis in Service or Available

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

26.         Number of Production Semi Projects in the Planning Stage

27.         Forecast of Production Semi Orders Over the Next Five Years

28.         Trend in Number of Production Spars in Service

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

30.         Number of Production Spars in the Planning Stage

31.         Forecast of Production Spar Orders Over the Next Five Years

32.         Trend in Number of TLPs in Service

33.         Number of TLPs Ordered Over the Past Ten Years

34.         Number of TLP Projects in the Planning Stage

35.         Forecast of TLP Orders Over the Next Five Years

36.         Number of FLNGs Ordered Over the Past Ten Years

37.         Number of FLNG Projects in the Planning Stage

38.         Forecast of FLNG Orders Over the Next Five Years

39.         Trend in Number of FSRUs in Service

40.         Number of FSRUs Ordered Over the Past Ten Years

41.         Number of FSRU Projects in the Planning Stage

42.         Forecast of FSRU Orders Over the Next Five Years

43.         Number of FSOs Ordered Over the Past Five Years

44.         Number of FSO Projects in the Planning Stage

45.         Forecast of FSO Orders Over the Next Five Years

46.         FPSO Ownership Profile

47.         Distribution of Floating Production Units by Water Depth

48.         Comparison of Pre-Salt FPSOs

49.         Time from Discovery to 300,000 Barrels Per Day Production

 




International Maritime Associates, Inc.
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