Orders for floating production systems have resumed after a 1-year hiatus, according to the latest International Maritime Associates Inc. assessment.
IMA reported that since mid-2009, companies have placed orders for one tension-leg platform and six floating production, storage, and offloading vessels. This includes an FPSO and TLP combination for Papa Terra off Brazil, an FPSO for Parque das Baleias off Brazil, an FPSO off West Africa, two FPSOs off Vietnam, and an FPSO in the Adriatic.
IMA noted companies have 170 new projects in the bidding, design, or planning stages that potentially may require a floating production or storage system.
Brazil has the most new potential projects with 34, followed by 31 off West Africa, 26 off Southeast Asia, 25 in the Gulf of Mexico, and 19 off Northern Europe, according to IMA.
It said 43 of the 170 planned projects are in the bidding or final design stage and likely to start within the next 12-24 months. It said Petroleo Brasileiro SA has the most potential projects with 28, and 10 operators account for 53% of the potential projects.
The number of production floaters looking for work increased during the past year, and there could be as many as 23 units now available, IMA said.
It reported off-hire production floaters being remarketed as of November included Munin FPSO, Griffin Venture FPSO, Front Puffin FPSO, Ruby Princess FPSO, Ming Zhu FPSO, Uisge Gorm FPSO, Glas Dowr FPSO, Modec Venture I FPSO, Falcon FPSO, Rang Dong 1 FPSO, BW Carmen FPSO, OPTI-EX semi, and FPF 1 semi.
Speculative units being marketed include Nexus 1 FPSO, Deep Producer 1 FPSO, MT Arc FPSO, Sevan 4 FPSO, and Sevan 5 FPSO.
Off-hire units with questionable status include Jamestown FPSO, San Jacinto FPSO, Orca semi, and Olinda Star semi.
Also a speculative unit partly completed and available is the MPF hull.
More Oil & Gas Journal Current Issue Articles
More Oil & Gas Journal Archives Issue Articles
View Oil and Gas Articles on PennEnergy.com
