Page 25: of Offshore Engineer Magazine (Jan/Feb 2021)

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number of orders placed over the past ?ve years, during which deployment. Including FPSOs now off ?eld and FPSOs that 29 FPSOs were ordered -- but 26% lower than the number will likely end production by the end of 2025, there will be of orders during 2011/15, when 50 FPSOs were contracted. somewhere between 25 to 35 FPSOs available for redeploy-

Orders for FPSOs will be skewed toward the later years in ment during the forecast period – at least 3X the number of the ?ve-year forecast period – re?ecting the expected continu- likely contract possibilities. ing impact of the COVID-19 over at least the next two years. Capex associated with FPSO orders over the next ?ve years

Buying power for a large portion of FPSO contracts will be is projected to total $56 billion in the most likely scenario -- centered in Brazil and Guyana/Suriname. These two areas are an average capex of $11.2 billion per year. expected to account for more than 60% of the FPSO con- Details for all FPSO projects in the planning stage and tracts awarded between 2021 and 2025. The remaining 40% our assessment of which speci?c projects will likely lead to of FPSO contracts will be with customers in SEA/China, Af- an EPC contract over the next ?ve years are provided in our rica, No Europe, Australia and other areas. forecast report.

Based on experience of the past ten years, we expect around 20% of future FPSO projects will involve use of a redeployed

Watch the interview @ unit – and the number of FPSO contracts forecast in our most bit.ly/3jEhWP0 likely market scenario will generate a requirement for 8 FPSO redeployments over the next ?ve years. { ?

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This redeployment requirement will not absorb all of the ?XK ||||K

FPSO looking for new ?elds. Currently, 25 FPSOs are in la- =K <* [\$}""$~qx_]_ yup. Of the units in layup, 14 appear possibly suited for re- 2021/25 FPSO Orders Forecast Compared to Past Contracting Pace

Source: WER 2021 Market Forecast january/february 2021 OFFSHORE ENGINEER 25