Page 35: of Maritime Reporter Magazine (April 2000)

Offshore Market (continued from page 32) decision is not expected before 2001, there is significant opposition to the deployment of FPSO vessels in the

Gulf, due mainly to the environmental concern — real or perceived — which comes with offshore storage operations.

According to a recent report from Washington, D.C.- based International Maritime Associates, there are cur- rently 107 floating production systems in operation worldwide, which is an increase of 67 percent over the total tallied in September 1996. At the time of the report (November 1999), orders were in hand for 21 floating production and five storage systems. Another 54 float- ing storage vessels (without production capability) are currently in operation.

Operating Inventory of

Floating Production Systems Worldwide

Tension Leg Platforms 11

Production Semis 32

FPSO vessels 6

Production Spars 2

Source: International Maritime Associates (IMA)

Looking ahead, International Maritime Associates projects orders to 62 to 84 additional floating production systems to meet installation requirements by the end of 2005, with FPSOs counting for about 70 percent of the new units, and the balance being production semis,

TLPs or spars. Capital expenditures for these new sys- tems will total $17.3 to $23.8 billion over the next five years.

Forecast of Orders for Floating

Production Units -

Next 5 Years

Type

FPSO

Semis

TLPs

Spars 5-yr Total

Annual Avg.

No. Units Estimated Capex (SB)

High Low High Low 58 46 $14.9 $11.8 5.. 2 1.9 0.8 12... 8 4.3 2.9 9 6 2.7 1.8 84 62 $23.8 17.3 17 12 4.8 3.5 49 Floating Production and 9 Storage Systems have been installed since September 1996

H=J* OS-jO 4 4 iL j J a / Vf £>J> 1

Wf 1 1 1 dfcOb \olt includes i production tmils relocated jrom other fields

Source: International Maritime Associates (IMA) 8238 129th Street, Surrey, British Columbia, Canada V3W 0A6

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April, 2000 Circle 214 on Reader Service Card Circle 232 on Reader Service Card 35