Page 24: of Marine Technology Magazine (April 2013)

continues to grow. 248 projects potentially requiring a ß oating production or storage system are now in the planning stage. A year ago, 216 projects were being planned. Five years ago, the Þ gure was 134 projects. Brazil is the principal location for new ß oating production projects. The huge pre-salt oil reserves offshore Brazil have been generating deepwater Þ nds at a rapid pace. Africa is in second place in terms of planned ß oater projects, followed by Southeast Asia, Gulf of Mexico and Northern Europe. The growth in number of planned projects reß ects the huge increase in deepwater drill equipment over the past decade. More than 150 drillships or deepwater semis have been or- dered since 2003, removing a bottleneck that constrained ex- ploration and development in deepwater. The result has been a dramatic increase in ß oater projects in the planning pipeline. Five Year Forecast Our analysis indicates a requirement for 124 to 190 ad- ditional production ß oaters between 2013 and 2017. The most likely Þ gure is 160 orders Ð which would be 40% greater than the number of orders over the past Þ ve years. FPSOs are expected to account for around 70% of future production ß oater orders. The remaining 30% will be produc- tion semis, spars, TLPs, FLNGs and FSRUs. Around 60% of FPSO orders will be placed by leasing contractors, 40% by Þ eld operators. ModiÞ cation and redeployment of existing FPSOs will satisfy around 20% of future FPSO requirements.Capital expenditure to procure this equipment is projected to be in the range of $90 to $130 billion over the next Þ ve years Terms Used: FPSO Ð Floating Production, Storage and Ofß oading Vessel FSO Ð Floating Storage and Ofß oading Vessel (no production plant)FSRU Ð Floating LNG Storage and RegasiÞ cation Unit FLNG Ð Floating LNG Liquefaction Plant Semi Ð Production SemisubmersibleTLP Ð Tension Leg Platform SPAR Ð Production Spar (cylindrical shape) FPS Ð Floating Production System (all types)O shore 3D Model of FPUA part of HHI?s $1.3B order is a 62,000-ton FPU, measuring 250 m in length, 44 m in width, and 18 m in depth, will process the received oil and gas, and send the products to onshore plants via subsea pipelines. The FPU has a production capacity of 100,000 barrels of oil and 2.5 million cubic metres of natural gas per day. The TLP and FPU will be installed at the Moho Nord Þ eld in the Þ rst half of 2015 and 2016 respectively. 24 MTRApril 2013MTR #3 (18-33).indd 24MTR #3 (18-33).indd 244/4/2013 9:51:33 AM4/4/2013 9:51:33 AM