Page 28: of Offshore Engineer Magazine (Sep/Oct 2015)

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FPSO

FPSOs shine bright in down market

In advance of OE’s 2015 Global FPSO

Cidade de Itaguaí, converted by MODEC in consortium with

Schahin, is 332m-long, 31m-high, and 58m-wide, and weighs

Forum, in Galveston, Texas, Audrey Leon 82,000-tonne. The FPSO is capable of processing 150,000 bo/d, speaks with the event’s co-chairs – SBM 280 MMscf/d of gas. It is able to store 1.6 MMbbl of ? uids, and inject 264,000 b/d of water.

Offshore’s Jim Wodehouse and Endeavor

Also in June, research analysts Douglas-Westwood said

Management’s Bruce Crager – to discuss they still expect FPSOs with a total value of $60 billion to be installed from 2015-2019. However, the ? rm noted the effect of topics affecting the FPSO sector.

the downturn on the FPSO market in 2015, citing at the time that only three contracts have been awarded. However, those hile most news these days concerning the oil and three contracts accounted for some $1.5 billion in spending. gas industry is gloomy, one sector looking past the Douglas-Westwood forecasts that four more awards are likely

W clouds is the FPSO market. this year while a further ? ve could potentially be awarded if

In June, Consultancy Visiongain reported it expected global there is an improvement in the oil price.

capital spending on newbuild and converted FPSO vessels to

OE: Despite the downturn in oil prices, many reports suggest reach US$8.65 billion this year, with the largest spend focused a promising future for the FPSO market. What is your take on on South America and West Africa. Even Brazil – despite much the current market?

uncertainty due to recent scandals – continues to be one of the hottest players in the market. Jim Wodehouse, strategy development manager, SBM

At the end of July, production began at the FPSO Cidade de O