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Floating Production Systems

analysis of construction and conversion
opportunities over the next five years


September 1996

 

 

 

Outline of Report

I.   OVERVIEW OF THE MARKET
1. Current Offshore Development Activity     I-1
2. Projected Growth in Offshore Production     I-5
3. Trend Toward Production in Deeper Waters     I-8
4. Need to Reduce Costs     I-12
5. Production Options     I-13
6. Trend Away from Traditional Fixed Platforms     I-15
7. Advantages of Floating Production     I-16
8. New Construction vs. Conversion of Floaters     I-19
9. Future for Floating Production     I-20

II.   EXPANDING ROLE OF FLOATING PRODUCTION
1. Early Floating Production Systems     II-1
2. Second Generation Floaters     II-3
3. Systems Since the Early 1990s     II-6
4. Historical Rate of Equipment Deliveries     II-9
5. Floating Systems Now in Operation     II-10
6. Current Orders for Floating Production Systems     II-15
7. Publicized New Floater Projects     II-17

III.   REPRESENTATIVE CURRENT AND PLANNED PROJECTS
1. FPSO Vessels - 40 Projects     III-2
2. Production Semisubmersible - 10 Projects     III-44
3. Tension Leg Platforms - 8 Projects     III-55
4. Production Spars - 3 Projects     III-62
5. Production and Storage Barges - 2 Projects     III-66
6. Multipurpose Shuttle/Production Tanker     III-69
7. Floating Storage and Offloading Vessels     III-71

IV.   FORECAST OF CAPITAL SPENDING ON FLOATING  PRODUCTION SYSTEMS
1. Future Mix of Production Systems     IV-1
2. FPSO Vessel Construction Outlook     IV-2
3. Production Semisubmersible Construction Outlook     IV-7
4. Tension Leg Platform Forecast     IV-11
5. Outlook for Production Spars     IV-14
6. FSO and Shuttle Tanker Requirements     IV-15
7. Installation of Floating Production Systems     IV-16
8. Summary of the Market Through 2000     IV-18
9. Long Term Outlook for the Next Decade     IV-18
10. Assumptions Must Be Regularly Reassessed     IV-20

V.   FUTURE DEVELOPMENTS IN FLOATING PRODUCTION
1. More Economical TLP Designs     V-1
2. Mini Tension Leg Platforms     V-2
3. Unmanned Wellhead TLPs     V-3
4. Triangular Tension Leg Platform     V-3
5. Tension Raft Jacket     V-4
6. Flotels to Production Semisubmersibles     V-5
7. 5th Generation Drill/Production Rigs     V-6
8. MST Shuttle/Production Tankers     V-6
9. High Capacity, Pipeline Capable FPSO Vessels     V-8
10. Gas Conversion or Liquefaction Barges     V-9
11. Advances in Subsea Technology     V-1
12. Fiber Rope Mooring Lines     V-11
13. Riser Technology     V-11
14. Consolidation and Alliances     V-12

VI.   BUSINESS CONDITIONS IN THE FPSO VESSEL FABRICATOR BASE
1. Shipbuilding is a Volatile Market     VI-1
2. Ship Replacement Requirements     VI-2
3. Future Shipping Demand     VI-5
4. Future Ship Construction     VI-7
5. Has the Rebound in Ship Construction Begun?     VI-8
6. The Overall Competitive Situation     VI-10
7. Business Conditions Among FPSO Builders     VI-12
VII.   KEY PLAYERS IN THE BUSINESS
1. Developers, Owners and Operators     VII-1
2. Ship Shape Builders     VII-3
3. Semi, TLP, Spar and Barge Fabricators     VII-6
4. Turret Mooring Suppliers     VII-7
5. Other Major Suppliers     VII-8
        6. Floating System Preferences of Major Users     VII-8

International Maritime Associates, Inc.

Washington, DC  USA