Page 20: of Offshore Engineer Magazine (May/Jun 2023)

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The evolving FPSO landscape – healthy demand, changing procurement strategies

Afer a slowdown in activity during 2020/2021 due to sof commodity prices, demand for FPSOs is picking up.

By Obo Idornigie, VP Upstream Research at Welligence Energy fter a slowdown in activity during 2020/2021 due constraints are beginning to weigh on delivery, leading to to soft commodity prices, demand for FPSOs is cost concerns. Furthermore, FPSO demand is competing picking up. for yard space with other construction projects.

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And with exploration hotspots like Namibia’s Orange To mitigate delay risk and cost overruns, some E&Ps

Basin and the East Mediterranean delivering new fnds, have reviewed their FPSO procurement strategies. The the FPSO market outlook is healthy. But shipyard capacity Build Operate and Transfer (BOT) model and use of stan- 20 OFFSHORE ENGINEER OEDIGITAL.COM