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Floating Production Systems

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


June 1997

 

Floating Production Systems Currently
In Operation Worldwide

 

 

June 1997 Report

Outline

I.     STATUS OF CURRENT AND PLANNED PROJECTS
     1.     Floating Production Systems Now in Operation     2
     2.     Systems Installed Since September 1996     5
     3.     Builders of Recent Floating Production Systems     6
     4.     Floating Systems Now on Order     7
     5.     Shipyards Currently Building or Converting Floaters     8
     6.     Floating Production Systems Planned or Being Studied     9

II.     RECENT DEVELOPMENTS
     1.     Projects in the Planning Stage     11
               AFK Cluster (Gulf of Mexico)     11
               Offshore Vietnam     11
               Girassol (West Africa)     11
               Moho (West Africa)     12
               Terra Nova (Newfoundland)     12
               West Bonne Bay (Newfoundland)     12
               Hebron (Newfoundland)     13
               Aquari (West Africa)     13
               Diana (Gulf of Mexico)     13
               Hoover (Gulf of Mexico)     13
               Snøhvit (Barents Sea)     13
               Tchatamba (West Africa     13
               Lavrans B (Norwegian Sea)     14
               Buckland (North Sea)     14
               Janice (North Sea)     14
               Cantarell (Mexico)     15
               Speculative Floater     15

     2.     Floating Systems on Order
               Morpeth Mini-TLP (Gulf of Mexico)     15
               Roncador Production Semi (Brazil)     16
               Connemara Multi-Purpose Ship (Ireland)     16
               Jotun FPSO (North Sea)     17
               Didon FPSO (Mediterranean)     17
               Genesis Spar (Gulf of Mexico)     17
               Bunga Kekwa FPSO (Southeast Asia)     18
               Banff FPSO (North Sea)     18
               Marlin TLP (Gulf of Mexico)     19
               Galley Production Semi (North Sea)     19
               Balder FPSO (North Sea)     19
               Åsgard B Gas Production Semi (North Sea)     20
               Ross/Parry FPSO (North Sea)     21
               P 37 FPSO (Brazil)     21

     3.     Systems Recently Installed
               Marlim Sul 3 FPSO (Brazil)     21
               Oribi Production Semi (South Africa)     22
               Foinaven FPSO (North Sea)     22
               Captain FPSO (North Sea)     23
               Ram Powell TLP (Gulf of Mexico)     23
               Ukpokiti FPSO (West Africa)     23
               Nang Nuan B FPSO (Thailand)     23
               Neptune Production Spar (Gulf of Mexico)     24
               Durward & Dauntless FPSO (North Sea)     24
               MacCulloch FPSO (North Sea)     24
               Cossack Pioneer FPSO (Australia)     25

III.     UNDERLYING MARKET DRIVERS
     1.     Outlook for Offshore Oil Production     27
     2.     Crude and Gas Prices     29
     3.     Cost of Developing Offshore Fields     31
     4.     Incentives for Deepwater Production     31
     5.     Longer Term Caution     32

IV.     TECHNOLOGY AND COMPANIES
     1.     Floating Gas Liquefaction Plants     33
     2.     Multiple Use Production Vessels     34
     3.     Production Control Buoy     35
     4.     Floating Seabed     35
     5.     Statoil/Rasmussen Joint Venture     36
     6.     Pelican Island Shipyard Closes     36
     7.     Blazer Energy Acquired by Statoil     36

International Maritime Associates, Inc.

Washington, DC  USA