A total of 67 planned and announced FPSO (floating, production, storage and offloading) vessels are expected to start operations during the outlook period 2019–2025, according to a recent industry outlook report by GlobalData.
Of these, 25 are planned FPSOs with identified development plans and 42 are early-stage announced FPSOs that are undergoing conceptual studies and are expected to get approved for development.
Among regions, South America remains on top globally with 27 planned and announced FPSO additions. Africa, Asia, and Europe rank next with 15, eight and seven FPSOs, respectively.
The report, entitled ‘Q4 2019 Global FPSO Industry Outlook – South America Spearheads Global FPSO’, found that globally, Brazil leads with 21 planned and announced FPSOs additions, followed by Angola with five FPSOs. The UK and Nigeria are jointly in the third position with four FPSOs each.
In South America, 27 planned and announced FPSOs are expected to start operations by 2025. Among these 14 are planned and 13 are announced FPSOs. Brazil leads the region with 21 planned and announced FPSOs, followed by Guyana and the Falkland Islands with three FPSOs each.
In Africa, 15 planned and announced FPSOs are expected to come online in seven countries by 2025. Among these, two are planned and 13 are announced FPSOs. Angola leads the region with five FPSOs, followed by Nigeria with four FPSOs.
In Asia, eight planned and announced FPSOs are expected to start operations by 2025. Malaysia and India lead with two FPSOs each, followed by Vietnam, China, Timor-Leste, and Indonesia with one FPSO each.
Europe has seven planned and announced FPSOs expected to start operations during the outlook period. The UK leads with four upcoming FPSOs, followed by Norway and Cyprus with two and one upcoming FPSOs, respectively.
In North America, Mexico leads the region with three FPSOs, while the US and Canada have one upcoming FPSO each expected to start operations by 2025
In Oceania, only Australia has two upcoming FPSOs, while in the Middle East only Israel has one planned FPSO, expected to be deployed during the outlook period.