Floating Production Market Report: Focus on FPSOs
FPSOs or floating production, storage and offloading systems offer many advantages over fixed platforms, the primary one being the facility to offload these structures and install them at new locations. FPSOs are helpful in challenging areas where sea conditions keep on changing and also when the oil reserves have depleted.
For these reasons, a fixed installation may not be technically feasible and a floating unit would offer a better solution. Floating systems are also a cost-effective solution for developing smaller, satellite or marginal fields in shallower water. Moreover, oil and gas is increasingly being discovered and produced in deeper and deeper waters worldwide, and so FPSOs become more feasible.
In just over three decades these floating production systems have evolved from relatively simple units producing from a single well to massive facilities capable of handling 250,000 barrels of oil per day. The deep water oil reserves mostly remain undiscovered, implying a huge demand and an optimistic long-term outlook for floating production systems.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
The report discusses the factors driving growth of the FPSO market as well as recent trends. The report analyzes the size of the market from different perspectives. It focuses on the global market analyzing the demand, supply, FPSO fleet growth, global offshore activities and spendings. It also focuses on the regional markets, covering Europe, America, Africa and Asia-Pacific. The competition in the market is also analyzed and main players of the industry are profiled, with a discussion of their financial growth and key strategies.
For these reasons, a fixed installation may not be technically feasible and a floating unit would offer a better solution. Floating systems are also a cost-effective solution for developing smaller, satellite or marginal fields in shallower water. Moreover, oil and gas is increasingly being discovered and produced in deeper and deeper waters worldwide, and so FPSOs become more feasible.
In just over three decades these floating production systems have evolved from relatively simple units producing from a single well to massive facilities capable of handling 250,000 barrels of oil per day. The deep water oil reserves mostly remain undiscovered, implying a huge demand and an optimistic long-term outlook for floating production systems.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
The report discusses the factors driving growth of the FPSO market as well as recent trends. The report analyzes the size of the market from different perspectives. It focuses on the global market analyzing the demand, supply, FPSO fleet growth, global offshore activities and spendings. It also focuses on the regional markets, covering Europe, America, Africa and Asia-Pacific. The competition in the market is also analyzed and main players of the industry are profiled, with a discussion of their financial growth and key strategies.
1. OVERVIEW
Floating System Production
Offshore Value Chain
2. MARKET SIZE
Worldwide FPSO Fleet
Deepwater Projects
Order Backlog
2.1 Regional Markets
3. MARKET PLAYERS AND COMPETITION
Ranking of FPSO Players
Market Share
Peer Comparison
4. MARKET DYNAMICS
4.1 Growth Drivers
4.1.1 Global Oil Demand
4.1.2 Huge untapped deepwater reserves
4.1.3 Application and Utility
4.1.4 Technological Innovation
4.2 Industry Trends
4.2.1 New FPSO mooring technology
4.2.2 Asia-Pacific leading offshore exploration
4.2.3 FPSO dominating the offshore market
5. COMPANY PROFILES
5.1 SBM Offshore N.V.
Overview
Strategy and Organization
5.2 Prosafe Production Public Ltd
Corporate Strategy
Overview
5.3 BW Offshore Limited
Overview
Business Strategies
Expansion in the US
Strengthening fleet and establishing partnerships
5.4 Sevan Marine ASA
Overview
Business Strategies
6. MARKET OUTLOOK
6.1 Market Forecast
6.2 Forecast Methodology
6.2.1 Dependent and Independent Variables
6.2.2 Correlation Analysis
6.2.3 Regression Analysis
LIST OF TABLES
Ranking of FPSO Players (March 2009)
Market Share of Leased FPSO Owners (2008)
Global FPSO Order Book (2008-10E)
Peer Comparison of FPSO Capex
Global Oil Demand & Supply (2008-13E)
Dependent & Independent Variables (2003–08)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output
Ranking of FPSO Players (March 2009)
Market Share of Leased FPSO Owners (2008)
Global FPSO Order Book (2008-10E)
Peer Comparison of FPSO Capex
Global Oil Demand & Supply (2008-13E)
Dependent & Independent Variables (2003–08)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output
LIST OF CHARTS
Types of FPSO
Stages of Floating System Production
Offshore Value Chain & Step-wise Use of Equipments
Breakup of Floating Production Systems Worldwide
Worldwide FPSO Fleet (2000-09E)
Top Mega Deepwater Projects (2006-15E)
Offshore Production - Shallow vs. Deep Water (2003-08E)
Global Offshore Spending – Shallow vs. Deep Water (2003-08E)
Global Offshore Spending (2003-08E)
Floating Production Order Backlog (2004-08)
Estimated FPSO Demand & Supply Position (2008-12E)
Potential Projects by Status
Future Leased FPSO Projects by Risk Status (2009-13E)
Regional Share of Crude Oil Production (2007)
Crude Oil Prices (2000-08)
Global Crude Oil Demand & Supply (2000-08)
Global Deepwater Reserves - Discovered & Potential (2008)
Sales Growth of SBM Offshore (2004-08)
Sales Growth of Prosafe Production (2005-08)
Sales growth of BW Offshore (2004-08)
Global FPSO Fleet Forecast (2009-12E)
Types of FPSO
Stages of Floating System Production
Offshore Value Chain & Step-wise Use of Equipments
Breakup of Floating Production Systems Worldwide
Worldwide FPSO Fleet (2000-09E)
Top Mega Deepwater Projects (2006-15E)
Offshore Production - Shallow vs. Deep Water (2003-08E)
Global Offshore Spending – Shallow vs. Deep Water (2003-08E)
Global Offshore Spending (2003-08E)
Floating Production Order Backlog (2004-08)
Estimated FPSO Demand & Supply Position (2008-12E)
Potential Projects by Status
Future Leased FPSO Projects by Risk Status (2009-13E)
Regional Share of Crude Oil Production (2007)
Crude Oil Prices (2000-08)
Global Crude Oil Demand & Supply (2000-08)
Global Deepwater Reserves - Discovered & Potential (2008)
Sales Growth of SBM Offshore (2004-08)
Sales Growth of Prosafe Production (2005-08)
Sales growth of BW Offshore (2004-08)
Global FPSO Fleet Forecast (2009-12E)
