Name of the Report :
World Floating Production Market Forecast 2016-2020
Published Date : 28th July 2016
This new World Floating Production Market Report 2016-2020 forecasts that Capex for FPS
units will total $58 billion (bn) over the period to 2020. This is substantially lower than expected
last year, as result of plummeting oil prices over the second half of the year, but the value of
the order book remains near record levels. There remains a wave of projects, ordered over the
previous cycle, that are yet to be installed. Many of these have seen installation dates slip,
with delivery on time (and budget) clearly still an issue for the industry. The looming challenge
for the supply chain, and particularly shipyards, is the lack of new orders to refill the backlog
after these units come onstream.
2015 was a weak year for orders in the FPS industry with only four vessel contracts being
awarded with a total value of $3bn. There have been no orders to date in 2016. It appears we
have reached the bottom of the down cycle and operators are adjusting to the low oil price and
will begin to order again in the second half of the year. This expects a low order value of $2.6bn
this year, from a higher number of orders than in 2015. Operators are pushing both cost
reduction measures and complete re-engineering of projects. Two key examples are the FPSS
for the Mad Dog Phase 2 project (which should be ordered this year) and the Johan Castberg
FPSO. Both fields had development plans that were uneconomic when the oil price was $110
but due to cost decreases and revised development plans are now economic at a low price –
showing that operators are willing to adjust and work at the new price norm.
There was limited commissioning in 2015 and as a result the value of units under construction
declined only $3bn, from $54bn to $51bn in the last year. In 2016 we have already seen the
start-up of high-Capex vessels such as the Goliat FPSO in Norway, while vessels such as
Turritella for the Stones field in North America and the FPSS and FPSO for the Ichthys field in
Australia are due to start in the coming years.
The current downturn represents an opportunity for the industry to move towards a more
standardised approach to FPS engineering, which has been debated for many years, without
significant progress. We expect a leaner, more efficient FPS industry to emerge from this downturn.
The report is now offered quarterly, allowing to quickly highlight changes in the market and
highlight how different companies are reacting to the current oil price environment.
With this new quarterly report there are a number of different purchasing options available. The
new quarterly release is available as a standalone option which includes the current quarterly
update as well as the full annual report. It can also be purchased as part of a subscription
where you will receive three further quarterly updates as well as the latest full annual report
and current quarter’s update.
The World Floating Production Market Forecast is now in its 14th edition and is supported by
analysis, insight and industry consultation and includes:
- Drivers & indicators – a review of factors influencing the floating production market including
global energy demand; continued development of offshore reserves; oil & gas prices; supply &
demand; Brazilian activity; and the role of deepwater.
- Operator analysis – Capex for the leading FPS operators, historic, forecast and by region
and water depth.
- The FPS supply chain – detailed analysis of the FPS supply chain, outlining the EPC firms,
shipyards, lease contractors, topside fabricators and their respective capabilities.
- Leasing & financing – the issues and future outlook for financing of the sector; analysis of
major leasing contractors, their assets and a review of prospective vessel redeployments.
- Regional analysis – with trend commentary for Africa, Asia, Australasia, Latin America,
Middle East, North America and Western Europe.
- Floating production prospects – list of floating production systems due onstream over
2016-2020, including the following data: country, E&P operator, field, FPS name, prospective
year, status of FPS, FPS type and moored water depth.
The quarterly updates include:
- Drivers & indicators – a review of factors influencing the floating production
market including continued development of offshore reserves; oil & gas
prices; and Brazilian activity.
- New FPS orders and onstream vessels – a summary of vessels that have
been ordered or have come onstream in the last 12 months, as well as a list
of both orders and onstream vessels we expect over the next year.
- Latest regional analysis – with trend commentary for Africa, Asia, Australasia,
Latin America, Middle East, North America and Western Europe.
- Floating production prospects – list of floating production systems due onstream
over 2016-2020, including the following data: country, E&P operator, field,
FPS name, prospective year, status of FPS, FPS type and moored water depth.
Why purchase the World Floating Production Market Forecast?
This market forecasting is trusted by sector players worldwide, with clients
including the world’s top-10 oil & gas companies, top-10 oilfield services
companies and top-10 private equity firms.
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
Our proven approach includes:
- Unique and proprietary data – updated year-round from published sources
and insight gained from
- Detailed methodology – analysis is based on this in-house Oil & Gas
database which details more than 700 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
- Comprehensive analysis – comprehensive examination, analysis and 10-year
coverage of floating production capital expenditure.
- Concise report layout – consistent with this commitment to delivering value
for our clients, all our market forecasts have a concise layout consisting of
industry background and supporting materials condensed to enable quick
review with ‘speed-read’ summaries of key points throughout.
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One-Off Hardcopy (5 copies) : £3,650
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As such the publisher accept no liability whatever for actions taken based on any
information that may subsequently prove to be incorrect.
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