FPSO Market Outlook 2014

technical and commercial support
Floating Production Market

and Brazil Outlook
August 2014
Rua São Bento, 8 – 2º Andar

Centro – Rio de Janeiro, Brasil
Phone.: +55 21 3799 1313
[email protected]
www.paschoalin.com.br
Current Inventory Worldwide
• 320 oil/gas floating productions units in
service, on order or available for reuse.
• 64% are FPSO
• 79% are in service
• Semis, barges, spars and TLP comprise the
balance
Current Inventory Worldwide
Number of Floating Production and Storage Units In Service, On Order or Available for Reuse (As of
1 August 2014)
Total Active On Order Available

O&G Production Units
FPSO 213 160 37 16
Production Brage 10 8 2 0
Production Semi 47 41 2 4
Production Spar 22 20 2 0
TLP 28 24 4 0
Total 320 253 47 20
LNG Processing
FLNG 5 0 5 0
FSRU 24 13 11 0
Storage Systems
FSO 102 92 9 1
Who’s is Building What
• 63 production floaters are currently on order
– 37 FPSOs
– 10 other O&G production units
– 16 LNG processing
• Production and Storage units are being built in
more than 40 locations worldwide.
• FPSO conversions
– China and Singapore – main players
– 20 conversions: 09 in Singapore, 08 in China and
03 around the world
– A portion of topsides completion in around of half
of these contracts is being performed in Brazil, to
meet the local content requirements.
• Built to purpose FPSOs
– Korea and Brazil – main sources
• Other O&G production units – Asia is the
major player for non-shipshape units
• The topside to several of units are being
completed in USA and MMHE (Malasya)
Floating Production Projects in Brazil
• FSRUs
– China and Korea – all regas units
– 08 in Korea, 02 in China
• FNLGs
– All are being builtin in Asia
– 03 in Korea (Samsung and Daewoo) 01 in China
(Wison) and 01 in Singapore(Keppel)
Backlog of Planned Floater Projects
• 231 projects in total now, are in different

stages
• 58% are FPSOs
• 13% are another O&G types
• 23 % are FLNGs or FSRUs
• 6% are FSOs
• Brazil, Africa and SE Asia continue to be the

major locations of floating production projects
• 44 projects in Brazil, 50 in Africa and 40
projects in Southeast Asia
• Several large projects in Brazil and Africa will
require multiple production units.
Breakdown of planned Projects
• Around 12% of the 231 visible planned

projects are likely to advance to the EPC
contracting stage within the next 12 to 18
months. These projects typically have either
entered the FEED phase, pre-qualification of
floater contractors has been initiated or
bidding/negotiation is in progress.
Floating Production Projects in the Advanced Planning Stage
• Another 50% of the visible projects are at a

stage of development where the EPC contract
for the production unit is likely within the next
18 to 48 months. The remaining 38% of
projects are less advanced in planning, with
the EPC contract likely 4 to 10 years out.
• Another 50% of the visible projects are at a

stage of development where the EPC contract
for the production unit is likely within the next
18 to 48 months. The remaining 38% of
projects are less advanced in planning, with
the EPC contract likely 4 to 10 years out.
Outlook for Brazilian market...
About projects in Brazil...
• Búzios – It is expected the field
development with 05 FPSOs. P-74 and P-
75 for phase 1 in 2016, P-76 and P-77 in
2017 and Búzios V in 2019.
• Lapa (ex-Carioca) – FPSO Cidade de
Caraguatatuba MV 27, from Modec-
Schahin will be applied to start production
of this field 2016
• Parque dos Doces (ES Aguas Profundas) –
FPSO to be contracted late 2014/2015 to start
operation in 2018.
• Tartarugas Verde e Mestiça – Leased FPSO
120kbbd oil, 180kbbd fluid and 3.5Mm3/d of
gas, with start up in 2017. The tender was
postponed to late 3Q 2014.
• Iara Horst and Iara NW – Two FPSOs P-70 and
P-71, respectively will develop these fields.
• Parque das Baleias S, Rev. Marlim and Búzios V
– Leased FPSOs are planned to develop these
fields, the tenders should issue in 2Q 2015.
• Maromba, Carcará and Sergipe Ag.
Profundas and Júpiter – FPSOs tenders are
expected to 3Q 2014.
• Atlanta – Queiroz Galvão O&G postponed
the FPSO tender to late 2014.
• Libra – 1st FPSO in negotiation now.
Eleven more from 2015, always four to
five years before the first oil expected for
each unit.
• Transfer of rights surplus – 10 new FPSOs
tenders expected from 2016 to 2020.
The big Picture
Floating Production Units inventory
• 38 FPSOs operating
• 01 FPSO P-XXXIV - Available
• 03 FSOs operating
• 17 Semisubmersibles
• 01 TLWP
Major Operator Units - PETROBRAS
Whats is the major challenge for
such massive demand in future
projects?
Whats is the major challenge for
future Projects?
More complex units, demanding:
• Equipment with small footprints
• Lighter
• More efficient
• Balanced cost performance
Beyond these, a permanent challenge is to implement a
maximized sustainable Local Content, with values
around 55% to 65%.
Disclaimer notice
The material in this presentation is based on facts, figures and information that are consider true,
correct, reliable and accurate but PASCHOALIN does not guarantee or represent (expressly or
impliedly) that the same are true, correct, reliable and accurate, not misleading or as to its
genuineness, fitness for the purpose intended and it should not be relied upon as such. The opinion
expressed (including estimates, facts, figures and forecasts) is given as of the date of this document
is subject to change without providing any prior notice of intimation. PASCHOALIN shall have the
rights to make any kind of changes and alterations to this presentation as may be required from time
to time. However, PASCHOALIN is under no compulsion to maintain or keep the data/information
updated. The information appearing herein is obtained from publicly available media or other
sources believed to be reliable, but PASCHOALIN does not guarantee that it is complete or accurate
and it should not be relied on as such. PASCHOALIN or any of its affiliates/ group companies shall not
be answerable, responsible or accountable in any way for any kind of loss or damage that may arise
to any person due to any kind of error in the information contained in this document or otherwise.
This document is provided for assistance only and should not be construed as the sole document to
be relied upon for taking any kind of investment decision. The recipient is himself/herself fully
responsible for the risks of any use made of this information. Neither PASCHOALIN nor any of its
affiliates, group companies, directors, employees, agents or representatives shall be held
responsible, liable for any kind of consequential damages whether direct, indirect, special or
consequential including but not limited to lost revenue, lost profits, notional losses that may arise
from or in connection with the use of the information.
Vitor Azevedo Jr
Business Development
Director
Phone: + 55 21 3799 1302

Fax: + 55 21 3799 1323
Mobile: + 55 21 999 75 75 56
[email protected]

FPSO Market Outlook 2014

Uploaded by

Copyright:

Available Formats

FPSO Market Outlook 2014

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

FPSO Market Outlook 2014

Uploaded by

Copyright:

Available Formats

technical and commercial support

Floating Production Market

Rua São Bento, 8 – 2º Andar

Total Active On Order Available

• 231 projects in total now, are in different

• Brazil, Africa and SE Asia continue to be the

• Around 12% of the 231 visible planned

• Another 50% of the visible projects are at a

• Another 50% of the visible projects are at a

Phone: + 55 21 3799 1302

You might also like