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Floating Production Systems

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


October 1997

 

Floating Production Systems Currently
In Operation Worldwide

 

 

October 1997 Report

Outline

I.   CURRENT AND PLANNED FLOATING PRODUCTION SYSTEMS

1.     Floating Production Systems Now in Operation     3
2.     Systems Installed Since September 1996     6
3.     Floating Systems Now on Order     7
4.     Shipyards Currently Building or Converting Floaters     8
5.     Floating Production Systems Planned or Being Studied     9
II.  RECENT DEVELOPMENTS

1.     Projects in the Planning or Design Stage     11
          Buffalo (Australia)     11
          Gorgon (Australia)     11
          Sakhalin Island (Russia)     12
          Bunga Seroja (Malaysia)     12
          Bohai Gulf (China)     12
          Astrid Marin/Anton Marin (West Africa)     12
          Girassol (West Africa)     12
          Snøhvit (Barents Sea)     13
          Glider (Gulf of Mexico)     13
          Rang Dong (Vietnam)     13
          Åsgard C (North Sea)     13
          Neptune (Gulf of Mexico)     14
          Snorre II (North Sea)     14
          Campos Basin (Brazil)     14
          Grane (North Sea)     16
          EM (South Africa)     16
          Haltenbank South (North Sea)     16
          Connemara (Western Ireland)     16
          Dalia (West Africa)     17
          Angola Block 16 (West Africa)     17
          Speculative     17

2.     Floating Systems on Order     18
          Allegheny Mini-TLP (Gulf of Mexico)     18
          Hoover/Diana Production Spar (Gulf of Mexico)     19
          P-36 Production Semi, P-47 FSU (Brazil)     19
          P-19 Production Semi, P-31 FPSO (Brazil)     20
          Terra Nova FPSO (Canada)     20
          Cantarell FSO (Mexico)     21
          Ross/Parry FPSO (North Sea)     21
          Varg FPSO (North Sea)     21
          Janice Production Semi (North Sea)     21
          Masa FPSO (Malaysia)     22
          Kiame FPSO (West Africa)     22
          Tchatampa MOPU and FSO (West Africa)     22
          Pierce FPSO (North Sea)     23
          Banff FPSO (North Sea)     23
          Speculative FPSO      23

3.     Systems Recently Installed     24
          Ram Powell TLP (Gulf of Mexico)     24
          P-34 FPSO (Brazil)     24
          Marlim P-26 Production Semi (Brazil)     25
          Njord Production Semi and FSU (North Sea)     25
          Norne FPSO (North Sea)     26
          Foinaven FPSO (North Sea)     26
          MacCulloch FPSO (North Sea)     27
          Durward & Dauntless FPSO (North Sea)     27
          Aquila FPSO (Adriatic)     27
          Bunga Kekwa FPSO (Malaysia)     27
III.  UNDERLYING MARKET DRIVERS

1.     World Demand for Oil and Gas     29
2.     Outlook for Oil and Gas Prices     30
3.     E&P spending Plans     31
4.     Leasing Activity in the Gulf of Mexico     31
5.     Impact of Deep Water Royalty Relief Act     33
6.     U.S./Mexico Maritime Boundary     34
7.     Offshore Company Equities     35
IV.  TECHNOLOGY AND COMPANIES

1.     Buoyform Floating Production     37
2.     Floating LNG Plant     37
3.     Canned Motor Subsea Pump     38
4.     PGS to Acquire Awilco     39
5.     Friede Goldman to Purchase Marystown Shipyard     39
6.     Ingalls Targets Offshore Sector     39
7.     Offshore Brazil Open to External Investment     40

International Maritime Associates, Inc.

Washington, DC  USA