Overview of FPSO Trends and Growth in Oil and Gas Industry
This presentation by Jim McCaul at the Intsok International Oil and Gas Business Days 2007 delves into the pivotal role and expansion of Floating Production Storage and Offloading units (FPSOs) in the industry. It highlights current FPSO order backlogs and discusses upcoming floater projects. Key points include remarkable growth in FPSOs, their storage capacities, flexibility, and application in various geographical regions. The talk outlines projected needs for additional FPSOs and offers insights into the market dynamics affecting the FPSO sector today.
Overview of FPSO Trends and Growth in Oil and Gas Industry
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Presentation Transcript
FPSO INDUSTRY FOCUS Setting the Scene Presentation at Intsok International Oil and Gas Business Days 2007 by Jim McCaul International Maritime Associates Washington-Houston
Presentation Will Cover . . . • Role and growth of FPSOs • FPSO order backlog • Floater projects planned/under study • Projected need for additional FPSOs International Maritime Associates - 2- Website: www.imastudies.com
Why FPSOs • Storage capacity – units operating range from 11,000 to 2.4 million barrel capacity; system pipeline independent • Flexible – 40 units have been redeployed more than 70 times; record is Petrojarl I used on 10 fields • Large processing capacity – mega units off WA support 250,000 b/d oil process plants • Not water depth sensitive – 17 FPSOs operating in water depth over 1000m; new unit for Brazil in 1780m • Lots of conversion hulls available – 59% of existing units, 64% of units on order use converted hulls International Maritime Associates - 3- Website: www.imastudies.com
198 Production Floaters are in Operation – Including 118 FPSOs International Maritime Associates - 4- Website: www.imastudies.com
Five Regions Account for Almost 80% of FPSOs Now Operating International Maritime Associates - 5- Website: www.imastudies.com
Use of FPSOs as a Production SolutionVaries by Geographical Region International Maritime Associates - 6- Website: www.imastudies.com
Production Floaters Have Grown 150%Over the Past Ten Years International Maritime Associates - 7- Website: www.imastudies.com
Number of FPSOs Has More Than TripledOver the Past Ten Years International Maritime Associates - 8- Website: www.imastudies.com
34 FPSOs Have Been InstalledOff West Africa Over the Past Ten Years • Region has 24% of all FPSOs • Includes 6 mega FPSOs • Units typically spread moored • 7 More units on order International Maritime Associates - 9- Website: www.imastudies.com
24 FPSOs Have Been Installed Off BrazilOver the Past Ten Years • Region has 16% of all FPSOs • Half VLCC size, 100,000 b/d+ plants • All but few turret or DICAS moored • 6 more units on order International Maritime Associates - 10- Website: www.imastudies.com
14 FPSOs Installed OffNorthern Europe Over the Past Ten Years • Region has 12% of all FPSOs • Turret moored, harsh environment units • Relatively small storage • 3 units fitted with 150,000 b/d+ plants • 4 more units on order International Maritime Associates - 11- Website: www.imastudies.com
20 FPSOs Have Been Installed Off Southeast Asia/China Over the Past Ten Years • Region has 23% of all FPSOs • Half have 50,000 b/d or less plants • Only Kikeh has 100,000 b/d+ • Turret mooring common • 8 more units on order International Maritime Associates - 12- Website: www.imastudies.com
11 FPSOs Have Been Installed Off Australia / New Zealand Over the Past Ten Years • Region has 8% of all FPSOs • Half under, half over 100,000 b/d plants • Turret mooring, quick disconnect common • 1 unit on field for 20+ years • 5 more units on order International Maritime Associates - 13- Website: www.imastudies.com
Only 3 FPSOs Installed in the GOMOver the Past Ten Years • Region has 3% of all FPSOs • All on Mexican side of the GOM • 2 of the 3 are small EWT units • Recent FPSO breakthrough in US GOM • Cascade could be start of a new era International Maritime Associates - 14- Website: www.imastudies.com
70 Production Floaters are Currently On Order – Including 52 FPSOs - - - - where to be installed - - - - International Maritime Associates - 15- Website: www.imastudies.com
Order Backlog for Production FloatersIs At An All Time High International Maritime Associates - 16- Website: www.imastudies.com
11 of the 52 FPSOs Now on OrderHave No Field Contract International Maritime Associates - 17- Website: www.imastudies.com
More Than 40 Contractors Are Currently Fabricating or Converting Production Floaters International Maritime Associates - 18- Website: www.imastudies.com
Fabrication and Conversion of Production Floaters Has Been Shifting to Asia International Maritime Associates - 19- Website: www.imastudies.com
More Than 120 Floater ProjectsAre Planned or Under Study International Maritime Associates - 20- Website: www.imastudies.com
We See Orders for 95 to 115 FPSOsOver the Next Five Years International Maritime Associates - 21- Website: www.imastudies.com