South America will have the highest number of planned floating production storage and offloading units (FPSOs) by 2020, with 21 of the expected total of 50, according to a report by GlobalData.
Titled, “Q3 2016 Global FPSO Industry Outlook – Persistent Delays in Planned FPSO Projects”, the report further states that Africa and Europe will have the second and third highest number of FPSOs, at ten and nine respectively.
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Start of some of the FPSOs is expected to be delayed due to reduction in upstream capital spending. Since July 2016, 18 of the 50 FPSOs have been postponed and one FPSO has been stalled. No new FPSOs have been announced or cancelled since July 2016.
In terms of deployment, Brazil is expected have the highest number of planned FPSOs by 2020 at 19, followed by the UK, Angola and Nigeria with seven, five and four respectively.
The world’s biggest FPSO operator by 2020 will be Petroleo Brasileiro, operating 15 FPSOs in Brazil, followed by Royal Dutch Shell and Bumi Armada Offshore Holdings operating three and two FPSOs respectively.
Continent-wise, Africa will lead globally in deploying FPSOs by 2020, while Angola and Nigeria will deploy five and four FPSOs respectively. In Europe, the UK will lead the region with the deployment of seven FPSOs by 2020 and Norway with two FPSOs.
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By GlobalDataFive and two planned FPSOs are expected to be deployed respectively in Asia and North America by 2020. In the Middle East and Oceania, one and two FPSOs respectively are expected to commence operations.
