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The World Floating Production Market Forecast 2013-2017



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The Market - Global Floating Production Capex to Double

Douglas-Westwood (DW) forecast that between 2013 and 2017 $91bn will be spent on floating production systems (FPS) – an increase of 100% over the preceding five-year period. This growth is driven by factors such as a larger proportion of newbuilds and conversions compared to redeployments, a greater degree of local content resulting in increased costs and general offshore industry cost inflation.

Floating Production is firmly established as a cost-effective method of developing oil and gas fields around the world. In water depths beyond 500m floating production systems become one of the few options open to operators, an increasingly important factor as production moves into deeper waters. DW forecast that 63% of global FPS market spend will be in deep waters.

FPSOs represent by far the largest segment of the market both in numbers (94 installations) and forecast Capex (80%) over the 2013-2017 period. FPSSs account for the second largest segment of Capex (10%), followed by TLPs, then spars.

Latin America accounts for 29% of the forecast installations and 37% of the projected Capex. Most installations to date have been in Petrobras-operated fields off Brazil and this is likely to continue, albeit substantial delays are expected for Petrobras’ offshore E&P investment. Asia is the next most important region in numerical terms (24), but Africa is so in terms of forecast Capex ($18.2bn).

Modelling & Forecast Generation

Analysis is based on DW’s in-house Oil & Gas database which details around 1,000 FPS projects. The data feeds into the market model to generate forecasts of floating production systems in each region of the world. Expenditure is allocated both to year of order and year of installation.

In-depth analysis

DW’s Floating Production Market Forecast 2013-2017 contains analysis of:

  • Capex – from 2008 to 2017, broken down by various components including hull, topside modules and mooring systems
  • FPS type – FPSOs, FPSSs, TLPs and Spars
  • Regional analysis – Africa, Asia, Australasia, Latin America, Middle East, North America and Western Europe
  • Operator analysis – breakdown of Capex for the leading FPS operators historically and forecast and by region
  • Deepwater – by FPS type and region
  • Order year analysis – Capex by order year
  • The FPS supply chain – Detailed analysis of the FPS supply chain, examining the small independent companies that provide specialist components and services, through to the multi-national companies that offer large-scale facilities
  • Leasing & financing – A discussion of the issues and future outlook for financing of the sector; an analysis of major leasing contractors and their assets and a review of prospective vessel redeployments

Why purchase the World Floating Production Market Forecast?

Now in its 11th edition, this highly regarded and established report has been tracking and analyzing the industry for over a decade. DW’s market analysis, commentary and understanding are strengthened by extensive insight gained from strategy and consultancy work undertaken for major companies throughout the industry.

NEW report style with enhanced analysis and speed-read summaries of key points throughout

The World Floating Production Market Forecast 2013-2017 is a vital source of information for those seeking a timely update on this rapidly growing industry. Geared to senior executives’ needs, the report assumes no previous knowledge of the subject area and provides the reader with a comprehensive understanding of the key trends in the sector.;

Concise report layout – industry background and supporting materials condensed to enable quick review.

The report is essential for financial institutions, equipment manufacturers, offshore engineering, construction, operations & maintenance companies and contractors, oil & gas companies, lease contractors, shipbuilders and agencies & government departments wanting to make more informed investment decisions.

Document Contents

Executive Summary and Conclusions

Market Drivers – Offshore Production, Subsea Production, Move to Deepwater, Flexibility of Use, Brazilian Activity

FPS Types & Applications – Offshore Production Platforms, The FPS Lifecycle, FPS Concept Selection, Floating Production, Storage and Offloading Vessels (FPSOs), Floating Production Semi-Submersibles (FPSSs), Spars, Tension Leg Platforms (TLPs), Types of Floating Production Systems – Summary, FPS Applications

Leasing and Financing – Financing, FPS Leasing, Major Leasing Contractors, Redeployments of Leased Units

The FPS Supply Chain – The FPS Supply Chain, Contractor Overview, FPS Shipyards & Construction Facilities, Local Content

FPS Components – Hulls, Topsides, Mooring Systems, Riser Systems

Transportation, Installation & Commissioning – An overview of the process, Spar installation

FPS Fleet – Summary of current fleet, broken down by region and type. Includes a discussion of water depth distribution and leading operators.

Market Forecast – Forecasting process, assumptions and Capex breakdown, Delays to Sanctioning and Commissioning, Detailed breakdown and analysis 2008-2017 (by region, type, operator and deepwater)

Appendices – Floating Production Prospects by country, operator, field, prospective year, status, type and water depth

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NEW - Additional services: tailored to meet your company’s needs, include dedicated real-time analysis, on-site support and presentations. Please contact us to discuss further research@douglaswestwood.com or call +44 1227 780999 for more details.

Further Report Details

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