Globally, South America leads with 31 planned and announced floating production, storage and offloading vessel (FPSO) additions by 2025. The region has 18 planned and 13 announced FPSOs respectively. Africa follows with 16 FPSOs, 4 are planned and 12 are announced, according to leading data and analytics company GlobalData.
The company’s report: ‘Q4 2018 Global FPSO Industry Outlook – South America and Africa Continue to Lead Global Planned FPSO Deployments‘ reveals that globally 71 planned and announced FPSOs are expected to start operations between 2018 and 2025. Of these, 29 are planned and 42 are announced.
Among countries in South America, Brazil has 24 planned and announced FPSOs that are expected to commence operations by 2025. Falkland Islands and Guyana follow with 4 and 3 upcoming FPSOs respectively.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “In Brazil, the majority state-owned company, Petrobras, is primarily relying on FPSOs to develop the country’s well-known subsalt hydrocarbon reserves in the Campos and Santos basins.”
GlobalData identifies Africa as the second highest region with 16 upcoming FPSO additions by 2025. Nigeria and Angola are the key countries in the region with 5 upcoming FPSO additions each, during the period 2018–2025. Senegal, Ghana, South Africa, Tunisia, Congo Republic, and Mauritania follow with 1 upcoming FPSO each.
Europe is the third highest among the regions in terms of planned and announced FPSO additions. The region has a total of 7 upcoming FPSOS during the outlook period. Of these, 3 are planned and 4 are announced FPSOs, respectively. Norway and UK are the key countries within the region with four and three upcoming FPSOs, expected to commence operations by 2025.
Oceania, North America, Asia, and Middle East are the other key regions with planned and announced FPSO additions. Oceania and North America will have five upcoming FPSOs each by 2025. Asia will have four planned and announced FPSOs and Middle East will have one upcoming FPSO, during the outlook period, 2018–2025.
Information based on GlobalData’s report: Q4 2018 Global FPSO Industry Outlook – South America and Africa Continue to Lead Global Planned FPSO Deployments