Douglas-Westwood: Expenditures for FPSs to rise through 2007

05/12/2003
Oil and natural gas companies' capital expenditures (capex) on floating production systems (FPSs) is expected to reach $32 billion over the next 5 years compared with the $17 billion spent over the last half decade. Currently, there are 116 floating production systems being installed worldwide, according to a soon-to-be released study by Douglas-Westwood Ltd. and industry data specialist Infield Systems. The study was launched May 5 in Houston at the annual Offshore Technology Conference.Floating production, storage, and offloading vessels will comprise the bulk of these production systems, Douglas-Westwood said. About 77 FPSOs are expected to be built over the next 5 years at a cost ...
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