Demand for offshore oil and gas floating production equipment is booming
[China Ship Network (CnshipNet China)] The recently completed marine floating production equipment market research report of the International Maritime Association ( IMA) shows that the floating production equipment has grown strongly, and 14 floating production units have been ordered in the past four months. Shows the strong market potential of such products.
According to market research, there are currently 256 floating production units that have been put into operation or have been submitted globally . Among them, floating production, storage and offloading units (FPSO) accounted for 62%. The rest are semi-finished products (17%), tension leg platforms (9%), spar production (7%), finished barges (5%), product barges and LNG floating oil regasification units. (5%). Of all the orders for hand-held floating production units, 11 are currently under construction.
Since March, the world has received a total of 14 orders for floating production units, including the first suspended liquefied natural gas carrier (FLNG). The $3 billion "Overture" suspension LNG ship is the most expensive floating production unit ever received. The remaining orders include 9 floating production, storage and unloading vessels (FPSO) (1 special-purpose floating production, storage and unloading vessel, 6 commercial tanker-modified floating production, storage and unloading vessels and 2 modifications) /Re-deployment of floating production, storage and unloading vessels), two production platforms, two purpose-built floating LNG storage and regasification units (FSRU). The total value of 14 construction contracts has exceeded $11 billion.
Currently, 53 floating production units with orders have been added, with a net increase of 6 since March. This has expanded the total number of handheld orders since the second half of 2009. Twenty-eight ships were built for specific purposes and 25 were made by modifying the tanker. Twenty ships were built for leasing operators and 33 were built directly for oil and gas field operators.
The IMA report confirms that there are currently 196 projects still in the tendering, design or planning phase, which are potentially floating production or storage systems.
In Brazil, the most active areas for import projects, there are 50 floating production plant projects in the planning cycle . The area after Brazil is Southeast Asia with 37 projects; followed by West Africa with 36 projects; Northern Europe with 22 projects; Mexico Bay with 17 projects; and Australia with 11 projects.
Of the planned 196 projects, 53 have entered the final design phase of the tender. The main hardware contracts for these projects are likely to be signed in the next 12-18 months. The other 143 floating production plant projects are in the planning or research phase, and the main hardware contracts for these projects are likely to be signed between 2013 and 2018.
According to IMA head Jim McCaul, as the world's demand for oil is growing at an annual rate of 1.5%-2.0%, it has strongly promoted the development of the floating production equipment market. Now people are still worried about supply disruption, new oil supply needs to be developed, oil prices have been around $100 a barrel, demand for deepwater drilling platforms is increasing, and oil companies have promised to increase funding for deepwater exploration and production projects.

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