Floating production continues to grow at a dynamic pace. There are now 197 floating production systems in operation worldwide. Another 62 systems are on order. Most important, there are more than 100 projects in the planning stage that potentially require a floating production system. Production Floaters Approaching 200 Units: The current inventory consists of 118 FPSOs, 40 production semis, 20 TLPs, 15 spars and 4 production barges. They are producing on fields primarily offshore West Africa, Northern Europe, US Gulf Coast, Brazil, Southeast Asia, China and Australia/New Zealand. Another 76 floating storage vessels (without production capability) are now in service, primarily in Southeast Asia, West Africa and the North Sea. Order Backlog at Record Level: With more than a dozen orders over the past four months, order backlog of production floaters as of mid-March has risen to 62 units. This is the highest backlog in the history of floating production. Backlog, which began climbing in late 2005, has increased more than 75 percent over the past two years. The current backlog consists of 46 FPSOs, 8 production semis, 2 TLPs, 3 spars, 2 barges and a ship shape FPU. More Than 100 New Projects Being Planned: In a just published study, U.S. consulting firm IMA has identified 109 offshore projects in the planning pipeline that potentially require floating production systems
IMA has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs is the 47th in a series of IMA reports on the deepwater production sector that began in 1996. Some highlights from the new report are below. Order backlog for production floaters at all-time high – 74 production floaters are currently on order
Husky Energy Inc. has awarded a $250 million contract for the subsea production system for the White Rose oil field project, located 217 miles off the east coast of Newfoundland and Labrador. The contract covers the design, supply and installation of the subsea system for the White Rose project. Husky plans to use a floating production, storage and offloading (FPSO) vessel to develop the offshore field. The subsea production system includes a total of 42 kilometres of flexible risers
The Gulf of Mexico offshore market is quickly shaping up to be the driving maritime force of 2001 and beyond. While the market today is, and will always be, largely dependent on the political wranglings of OPEC nations, the recent consolidation which has swept the oil majors and, to some degree, the offshore drilling and supply and service companies, has helped to alter some of the traditional instabilities. For example
source: ‘The World Floating Production Report II’, Douglas-Westwood & Infield Systems Over the past five years capital expenditure on floating production systems has totalled some $20 billion, but over the next five years this is forecast to increase by more than 50% to $32 billion. Annual spend is expected to soar to over $9 billion in 2004. These are amongst the findings of a major new study launched today at Houston’s annual Offshore Technology Conference by energy analysts
IMA has just completed a detailed assessment of the floating production sector. The study examines the impact of the global economic downturn, assesses the underlying long term market drivers and forecasts production floater orders over the next five years. The market for new floating production systems has frozen as a result of the abrupt downturn in the global economy. Over the past quarter no orders have been placed for production floaters
StatoilHydro on behalf of the Morvin license group, awarded Aker Kvaerner a contract for the engineering, procurement and construction (EPC) of a complete subsea production system for StatoilHydro's Morvin field in the Norwegian Sea. The contract, worth approximately $181m is a testament to Aker Kvaerner's unique high-pressure/high-temperature (HPHT) subsea technology. The Morvin contract is an addition to the scope identified in the frame agreement signed by Aker Kvaerner and
Cameron (NYSE: CAM) has received an order for the supply of subsea production systems for a deepwater and offshore gas processing and pipeline project in the South China Sea. The project will include subsea equipment, as well as an agreement to provide additional services across the life of the field. Deliveries are scheduled to begin in late 2011 and continue through 2012. Cameron President and Chief Executive Officer Jack B
Maersk Oil selects Fibertown to provede data center facilities for mission-critical & disaster recovery systems FIBERTOWN, a premier provider of high availabilityHouston data centers and business continuity offices has announced that the Houston division of Danish oil and shipping company, Maersk Oil, selected Fibertown data centers for high-performance colocation of its mission critical and disaster recovery systems.
Floating Production Storage & Offloading (FPSO) vessel 'Cidade de Itajaí' arrives at the Santos Basin. Petrobras announce the FPSO's arrival at its definitive location to be integrated to the Baúna and Piracaba field production system, which is in the Santos basin post-salt area. Chartered from OOG-TKP (the consortium formed by Odebrecht Óleo e Gás & Teekay Petrojarl), the vessel is being prepared for anchoring and is expected to start producing yet
Floating Production inventory continues to grow, but rising costs, shale oil and gas are starting to create significant headwinds Floating production has been one of the most significant developments in the oil and gas industry over the past four decades
Azeri state energy company SOCAR's shipyard and British oil major BP have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project, BP said on Wednesday. Azerbaijan's biggest gas field
Maersk Drilling has ordered four Blow Out Preventers (BOPs) and two risers from GE Oil and Gas to be used in the Project 20K™ agreement with BP. The BOPs and risers are intended to be delivered and deployed on two Maersk Drilling 20K™ Rigs by year-end 2018
FPSOs play a key role in deepwater oil and gas production. A 'DW Monday' analysis of FPSO projects found cost overruns of nearly 40% and average project delays exceeding one year for some. In response to this DW recently brought together 20 companies from across the FPSO supply chain in a round
Currently, 319 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 75% of systems on order. Another 24 floating LNG processing systems are in service or on order
This year Maritime Reporter & Engineering News celebrates its 75th Anniversary. Founded by in 1939, the publication today reigns as the largest audited publication serving the global maritime industry, with a circulation of more than 35,000.
The number of floating production units grew 5% in 2013. Here we examine the global market and future opportunities. Currently, there are 319 oil/gas floating production units are now in service, on order or available for reuse on another field
Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of three 20,600 CBM semi-refrigerated LPG carriers with an expected cost per vessel of $51 million (USD). Following an evaluation of current newbuild and time
Financial Highlights in the fourth quarter of year 2013 were as follows: Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1
$136 billion expenditures forecast for Floating Production Unit purchases over the next five years Today, 319 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 74% of systems on order.
Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation. Now accommodation and special features join safety as the key components for a new range of comfortable, large-scale offshore housing vessels
The number of floating production systems continues to grow; 349 floating production units are now in service, on order or off-field/being remarketed. This inventory is 5% higher than a year ago, 27% higher than five years ago.
Brazilian state-run oil company Petroleo Brasileiro SA suffered another setback in its effort to boost oil output last month when Italian contractor Saipem SpA dropped a 2.3 km steel pipe into the Atlantic Ocean. On March 16, the rigging used to wrangle the pipe into position on a floating oil
Strainstall UK Limited has been selected to work alongside SBM offshore on the prestigious Shell Stones project, which is an ultra-deep Oil and Gas development in the Gulf of Mexico and is currently the deepest production facility in the world at approximately 2,900 meters.
Accommodations, Features and Comfort combine with Safety. All are key for Offshore Housing missions. Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation