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Floating Production Storage and Offloading (FPS & FPSO)
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Get up-to-date market and supplier info on Floating Production Storage and Offloading (FPS & FPSO) to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  • FPSO Price Drivers 2018
  • Sourcing Strategies: For FPSO
  • FPSO: Cost Structure Analysis
  • Supplier Landscape

Market Size

Market Size North America

$0.56 Bn

Market Size Europe

$ 4.63 Bn

Table of contents

  1. Floating Production Storage and Offloading Executive Summary
  2. Category Updates
  3. Market Size: Global
  4. Negotiation Lever for Buyers
  5. Industry Drivers
  6. Prevailing Cost and Drivers
  7. Engagement and Sourcing Practice
  8. Top Suppliers: Global and Regional
  1. FPSO Market Overview
  2. FPSO Market: Global
  3. Demand Drivers and Constraints
  4. Porter’s Five Forces Analysis
  1. FPSO Cost & Pricing Analysis
  2. Cost Drivers and Other Price Determinants
  3. Cost Structure Analysis
  1. FPSO Supplier Analysis
  2. Supply Market Outlook
  3. Key Global FPSO Suppliers: Profile and Service Portfolio
  4. Supplier SWOT Analysis
  1. FPSO Procurement Best Practices
  2. Engagement Models: Most Prevalent Engagement Model in the Market
  3. Sourcing Models: Most Prevalent Sourcing Model in the Market

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Global Market Outlook on Floating Production Storage and Offloading

  • The global FPSO demand market is expected to reach $44.12 billion by 2022, with a CAGR of 14.42 percent
  • The Discovery of deepwater assets in offshore Africa, Brazil, and Guyana will be driving the demand for FPSO
  • The global FPSO Market Size by Region are South America 28.6, Asia 27.6, Africa 21%, Europe 14.7%, Australia 4.5%, Middle East 1.5%, North America 1.5%.
  • FPSO market across South America, Africa and Asia constitute more than 75 percent of the global floating production, storage and offloading market. 
  • Relatively stable crude prices and increase in offshore exploration and oil production activities are expected to increase demand for floating production storage offloading over the next three years
  • MODEC (18), SBM Offshore (15), BW Offshore (15) and Teekay (11) are the largest FPSO companies.

floating-production-storage-and-offloading-market-size

FPSO Demand Forecast 2021: Global

  • The global oil & gas FPSO demand market is estimated to be $28.01 billion in 2018, it is forecasted to reach $44.12 billion by 2022, with an estimated CAGR of 14.42 percent
  • With increase in crude prices, demand for FPSO is expected to increase over the next three years
  • The Discovery of deepwater assets far-off from the coasts is expected to be the key behind the demand increase in the  upcoming years

Global FPSO Market Size by Region: 2017

  • Africa has surpassed South America and Asia to be the largest market for FPSO
  • FPSO market across Africa, Asia, and South America constitute to 74 percent of the global FPSO market
  • Petrobras, CNNOC, Total, ExxonMobil, Chevron, Shell, and BP are the major buyers of FPSO service, and they constitute to 55 percent of the total global demand

The Discovery of deepwater assets will be a key reason behind the increase in demand. However, the supply market is expected to be surplus in nature, irrespective of the crude price recovery, due to medium demand in the market for FPSO service. Therefore, client can look to engage with a floating production and offloading supplier on a long term basis

FPSO Demand by Countries

  • Brazil is the largest market for FPSO on a country level.Development of new offshore fields is the key driver for the FPSO demand
  • China and the UK collectively constitute about 22 percent of the FPSO demand on a country level
  • Angola and Nigeria are the major FPSO markets in Africa

FPSO Demand by Oil Companies

  • Petrobras is the single largest operator of FPSO vessels globally
  • Other major oil companies, namely CNOOC, Shell, Total, Exxon Mobil, operate around 20 percent of FPSO fleet
  • The rest of the fleet is operated by independent and smaller oil companies

Growth Drivers 2018: Global

New offshore discoveries, increase in spending from E&P companies, and changes in regulations are set to drive the demand for FPSO

New offshore discoveries and development

  • New discoveries of deepwater fields offshore of Africa, Brazil, and Guyana are the key drivers for the demand for FPSO
  • Offshore Guyana is forecasted to have a demand for five FPSOs, as estimated recoverable resources have risen by 25 percent

Increasing oil price

  • Higher oil price in H1 2018 is encouraging the E&P companies to develop the deepwater assets

Changes in regulations

  • New energy policy enacted by the Brazilian government to increase production from pre-salt basins in offshore
  • This is likely to increase the demand by 30 percent in the Brazilian market alone

Growth Constraints 2018: Global

 Environmental concerns are seen as the hindrance in developing the offshore assets

Environment concerns

  • Increase in environmental concern in developing the offshore assets is seen as the hindrances by oil companies

Increase in FPSO day rates

  • Following the increase in demand, the day rates of FPSO are expected to increase

FPSO Market Drivers And Constraints

There are many factors that affect the demand for FPSO and FPO. Factors that drive the supply-demand are usually the main determinants of the floating processing unit (FPU) market and converted tanker growth. Regional political developments also impact the industry. If there are any environmental regulations and changes in other rules and regulations that affect the market, they are described. The primary driver for demand for an FPS / floating production storage and offloading vessel is the oil-field capex and supply-demand for crude oil globally. New discoveries of oil and gas naturally drive the offshore processing unit growth and the requirement for FSU / floating storage unit production vessels.  The cost of oil also determines how feasible it is to charter a floating storage offloading vessel. Crude oil rates also determine the cost of running a floating production, storage & offloading vessel. The daily cost feasibility has a direct effect on market demand for storage vessels.

FPSO Cost & Pricing Analysis

This section of the report details the cost of having a floating production offloading vessel or converted storage tanker and helps one understand the financial advantages and disadvantages of having one. The cost structure analysis of FPSO helps one understand the breakup of the expenditure on an FPSO. One can understand the nuances of the expenditure on an FPSO and be able to understand what the actual cost will work out to be. The report also gives details of the contract models that are followed in the industry. It is informative about the different advantages of each contract model for an offshore storage unit and the geographies in which each is more popular. 

FPSO Market Trends and Innovations

Noteworthy technological advancements that impact offshore oil & gas production and the floating processing vessel and floating storage offloading vessel market are detailed in this section of the report. This includes any proprietary or patented technology that has made an impact. The crude industry is also constantly improving the efficiency, safety, and sustainability aspects of offshore oil & gas storage and production, and the key improvements and trends in cost-effectiveness,  sustainability and safety of offshore oil & gas processing are presented. 

FPSO Market Overview

  • Low utilization rate, medium demand, and low day rates of floating production storage offloading have reduced the bargaining power of the supplier.
  • The global market is consolidated with few numbers of global players, while several NOCs have their own fleet of FPSOs
  • Hiring an experienced crew is likely to be the biggest barrier for new entrants into the FPSO market.
  • Supply-demand tends to be the key price driver for FPSO day rates.
  • Given the increase in oil price, day rates of FPSO companies are forecasted to increase as E&P companies are working to improve the production levels. 
  • Larger FPSOs, with high production and processing facilities, tend to have a high charter rate, due to cost-efficiency factors.
  • Ownership nature of FPSO, sourcing market and vendor selection are the key considerations to engage with the FPSO supplier. 
  • Charter type, commercial model and contract duration are the three key factors in selecting a cost-effective FPSO solution.

Why Should You Buy This Report

  • Information about the profile and service capability of suppliers like MODEC, SBM Offshore, BW Offshore, etc.
  • Best sourcing strategies and procurement practices in the FPSO market.
  • Constraints, drivers and Porter’s five force analysis of the FPSO industry.

Floating Production Storage and Offloading Market Frequently Asked Questions

  1. What is the market size of the floating production storage and offloading market? 
  2. As per Beroe’s FPSO market forecast, the FPSO market share is expected to reach $44.12 billion by 2022. 

 

  1. Who are the major players in the floating production storage and offloading industry? 
  2. The major players in the floating production storage and offloading market are South America (28.6%), Asia (27.6%), Africa (21%), Europe (14.7%), Australia (4.5%), Middle East (1.5%), and North America (1.5%). 

 

  1. What are the latest trends in the floating production storage and offloading market?
  2. The latest FPSO market trends are that the global market is dominated by a few major players whereas NOCs have their own FPSOs, the biggest barriers to new emerging players in the market are hiring an experienced crew, and supply and demand are the key drivers for price change in the market. 

 

  1. What will be the expected growth of the floating production storage and offloading industry?
  2. The FPSO market forecast in terms of estimated growth is about 14.42% CAGR. 

 

  1. What are the key drivers of the floating production storage and offloading market?
  2. The key demand drivers for the floating production storage and offloading market are rise in crude oil prices and new deep water asset discovery. 


 

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