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13% 24% 7% 15% 29% 7% 5%

Source: © TAW4/AdobeStock net result of delivery of new FPSOs and scrapping of aging service or available to begin to slowly decline over the next units over the ten-year period. two or three years. While the number of FPSOs will decline,

Expansion of the FPSO ?eet has been tapering off, and the processing capability of the overall FPSO inventory will con- inventory of existing units has likely now peaked around 200 tinue to expand as incoming larger units replace smaller aging units. Taking into account units on order for delivery this year FPSOs being removed from service.

less FPSO removals in 2021 due to anticipated ?eld closures, we expect FPSOs in service or available to number between

Orders for FPSOs 196 and 200 units at end-2021. Contracts for 79 FPSOs were placed between 2011 and

While another 14 FPSOs are scheduled for delivery be- 2020, an average of just under eight FPSOs ordered annually. tween 2022 and 2024, the scrapping ?gure during the same There has been big variation around this average – with orders period will likely be higher, causing the number of FPSOs in ranging from a high of 14 contracts in 2014 to no contracts in january/february 2021 OFFSHORE ENGINEER 23