Spending Cuts on Offshore Projects Hits Global FPSO Deployments

Globally 60 FPSOs are expected to start operations by 2019. However persistent low crude oil prices have deteriorated project economics of several offshore development projects and could lead to delay or cancellation of the several planned FPSOs. Among countries, Brazil will dominate the global FPSO industry’s growth with anticipated deployment of 17 FPSOs by 2019. Proposed development of pre-salt fields in offshore areas of Brazil will be the key driver for FPSO deployments in the country. After Brazil, UK is expected to have the second highest FPSO deployments in the world with eight FPSOs. In Africa, Angola, Nigeria and Ghana are expected to deploy six, four and two FPSOs respectively by 2019.

Our latest report Q4 Global FPSO Industry Outlook – Spending Cuts on Offshore Projects Hits Global FPSO Deployments provides a detailed overview of the FPSOs that were brought online from 2009 to 2014 by key regions in the world, and forecasts up to 2019. The report also includes details of major planned FPSOs in the world up to 2019.

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