A March 2004 study by the International Maritime Associates Inc. (IMA), Washington identifies more than 80 offshore projects in the planning stage that potentially will require floating production systems.
The study says that during the last 10 years (Fig. 1), systems in operation and available have increased by about 250% and currently number 156 (Fig. 2), consisting of 17 tension-leg platforms (TLPs), 38 production semisubmersibles, 92 floating production, storage, and offloading vessels (FPSOs), 9 production spars.
It also lists 74 vessels serving as floating storage, offloading (FSOs) vessels. The FSOs have no production capabilities and four of the units provide storage for LPG.
On order
The study identifies another 38 production floaters on order. These include 2 TLPs, 4 production semis, 26 FPSOs, 5 production spars, and 1 well test/production vessel. In addition, it lists 5 FPOs on order.
These 38 units include 4 FPSO upgrades, including 3 redeployments, and 2 speculative hulls waiting for an employment. It says 1 of these 2 hulls is complete, while the other is without topsides.
Of the production systems on order, 12 are intended for West Africa, 8 for the Gulf of Mexico, 6 for Brazil, 5 for China, 1 for Southeast Asia, 1 for Europe, 2 for Australia, 1 for Canada, 1 for Mexico, and 1 yet to be decided.
Two of the storage units are for Southeast Asia and 1 each for West Africa, India, and Venezuela.
Besides these vessels, IMA forecasts that during the next 5 years the industry will order an additional 60-77 production floaters, requiring a capital expenditure of $19-25 billion.
Also it expects the industry to modify 16-20 existing units and redeploy them from current fields during this period.
The study identifies 82 offshore projects in the bidding, design, or planning stage that may require installation of a floating production or storage system. It says some of these projects call for more than one production unit, and altogether these 82 projects may require 85 new production floaters.
Geographically, 21 of these projects are off West Africa, 14 are off Brazil, 14 are off Southeast Asia, and 13 are in the Gulf of Mexico.
In terms of water depth, the plans include mooring about 19% of the planned production floaters in water deeper than 5,000 ft, 41% in 3,000-5,000 ft of water, and 40% in water less than 3,000 ft deep.
