Page 36: of Maritime Reporter Magazine (July 2000)

Gulf of Mexico Analysis

GOM: Number Of Floating Production Systems Projected To Rise

The Gulf of Mexico offshore market is quickly shaping up to be the driving maritime force of 2001 and beyond.

While the market today is, and will always be, largely dependent on the political wranglings of OPEC nations, the recent consolidation which has swept the oil majors and, to some degree, the offshore drilling and supply and service companies, has helped to alter some of the traditional instabilities.

For example, despite the fact that the price per barrel of oil has elevated to and remained in the mid $20s to low $30s for much of the year, offshore activity in the Gulf of Mexico has been sluggish to initially respond. While it appears that offshore business in the region will rebound strongly in the latter part of 2000 through 2001, the more measured approach to the business of discovering and recovering resources in the Gulf of

Mexico should be a welcome sign to the myriad of businesses which depend on a

The Gulf of Mexico and West

Africa are the major locations for planned floating produc- tion projects, with 52 and 49 projects respectively.

In New Orleans a worried ship owner e-mails Mackay World Service for assistance halfway around the world.

His vessel is headed to Barcelona and is experiencing problems with its Satcom terminal. When the ship arrives in Spain, Mackay's service engineer is there waiting. The repair is completed and a service report is faxed to the ship owner, who breathes a sigh of relief. Mackay has just saved him considerable time and money.

No matter where your ships are, Mackay World Service is there to answer the call.

Call (919) 850-3047 or visit www.mackaymarine.com h/lof^L^OX/ for more information. IVIdOKdy

MARINE

A Division of Mackay Communications 2721 Discovery Drive, Raleigh, NC 27616 • Email: [email protected]

SATCOM I GYRO I ENGINE ROOM EQUIPMENT healthy market for sustained business.

The following is excerpted a report entitled Market Prospects for Floating

Production Systems, produced quarterly by International Maritime Associates,

Inc. (Washington, D.C.), which discuss- es in great detail the spending plans for all offshore producing areas in the next several years

Current Situation

There are now 116 floating production systems in operation worldwide. This is an 81 percent increase over the invento- ry of floaters reported in September 1996. Another 60 floating storage ves- sels (without production capability) are now in operation, two of which are for

LPG storage.

Currently, 28 percent of the FPUs in operation are situated off Northern

Europe, 23 percent off Brazil, 20 per- cent in Southeast Asia/China, 10 percent off West Africa, nine percent in the Gulf of Mexico and seven percent off Aus- tralia.

Current orders consist of 15 purpose 4

Advanced-technology deepwater drillships such as the Discoverer Deep Seas and its two sister ships — built for Transocean by Astano — will continue to drive business in the Gulf of Mexico and around the world. 36 Circle 247 on Reader Service Card Maritime Reporter/Engineering News