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33 FPSO projects forecast to be sanctioned in 2019 - 2021

As the offshore market starts to turn the corner some 33 FPSO projects are expected to be sanctioned over the next three years according to analysts Rystad Energy.

Rystad said that of the 33 FPSOs it expects to be sanctioned between 2019 and 2021 45% or 15 units will require a production capacity in excess of 80,000 barrels per day (bpd), with five vessels with a capacity of 200,000 bpd or higher.

“This high capacity demand comes mainly from the developments in Guyana and Brazil whereas operators such as ExxonMobil, Equinor and Petrobras is stepping up their deepwater production,” Rystad.

The forecast sees a continuation of the improved FPSO market last year with 11 contract awards according to Energy Market Associates.

Read more: FPSO market rebound expected to continue in 2019

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