The number of floating production projects under study has increased globally this year, and the upward momentum appears set to remain in the near-term, data and reports from International Maritime Associates (IMA) and Douglas-Westwood show.
According to released figures in July 2012 from IMA, there are 233 floating production, storage and offloading (FPSO) projects being planned this year, up 19 percent from 2011's figures. Southeast Asia and Brazil are the areas that account for the bulk of the planned projects, according to Jim McCaul, head of IMA.
Data provided by Douglas-Westwood – a consultancy and research services provider – to the FPSO Congress backs up McCaul's data. Douglas-Westwood estimates the next four years will see almost 130 FPSO installations. In value-terms, the projects in total could be worth almost $68 billion.
"Continuing expansion in the use of subsea production technologies, increased deepwater discoveries and emphasis on users other than life of field production are proving to be the biggest drivers in the burgeoning industry," Douglas-Westwood said.
Through its upcoming 13th Annual FPSO Congress, event organizer IQPC will offer FPSO industry leaders a unique opportunity to explore new business opportunities and interact with peers from around the world.
The natural elements-inspired MAX Atria in the Singapore EXPO will serve as the venue for the Sept. 17-20 congress, where decision-makers will discuss shared challenges and possible solutions. Summit delegates will engage industry leaders through dedicated discussion sessions along the commercial and technical aspects. The event will actively encourage questions from the floor, and delegates will enjoy ample opportunities to network.
A noteworthy feature of the event is the site visits arranged by IQPC. The first site visit on Sept. 17, 2012, is a trip to SBM Offshore's FPSOs at the Keppel Shipyard in Singapore. The second activity, on Sept. 20, 2012, is a site visit to Technip's Asiaflex facility in Johor Bahru, Malaysia. The SBM Offshore event is open only to the first 15 registrants while the site visit to Technip is open to only oil operators and vessel owners.
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