Luanda Province, Angola
An emerging sweet spot for the oil and gas industry, Africa is accelerating exploration and production developments in both its onshore and offshore sectors. National oil corporations are partnering with industry heavyweights from around the globe to rebuild infrastructure in the world's second largest continent. Vast oil and gas reserves are harnessed within Africa's respective countries, as well as the surrounding waters of the Mediterranean Sea to the north, the Suez Canal and Red Sea to the northeast, the Indian Ocean to the southeast and the Atlantic Sea to the west.
FPSOs (Floating Production Storage and Offloading) are floating vessels where oil is processed and stored, ready for transportation. They are usually located near an oil platform and are more common in regions where no pipeline infrastructure is setup. They are also referred to as FPUs or Floating Production Units.