The Floating Production Systems Market Report To 2015 provides comprehensive analysis of the historical and forecast trends on a region by region and country by country basis of floating production sector of the offshore oil and gas industry. Floating production forecasts are provided by region and by floating platform facility type (FPSO - Floating Production Storage Offloading Facility, Semi-Submersible, Buoy-Shaped, TLP (Tension Leg Platform) and Spar). The new Floating Production Systems Market Report provides a detailed examination of the key infrastructural and technological challenges facing the floating production market today. The floating production sector is one of the most capital intensive areas of the offshore oil and gas market, the wide ranging implications of oil price fluctuations on floating platform developments are also considered. The sixth annual edition of the Floating Production Market Report is essential reading for those involved in the future of the floating production sector.
Download Brochure & List of Contents
The offshore oil and gas industry has been through a difficult three year period as the financial crisis rocked the global economy. Indeed, the freezing of the capital markets and precipitous decline in commodity prices severely constrained oil companies exploration and production (E&P) operations and subsequently the offshore industry went through a significant cooling period.
Like the wider industry, the floating production market was adversely affected during this period with capital spend decreasing year-on-year from a high of US$8.5bn in 2006 to a low of US$5.6bn in 2009. However, these headline figures hide the intricacies associated with the sub-sectors of the floating production market. Indeed, deepwater developments have largely progressed in accordance with operator time schedules; whilst smaller, shallow water projects, often under the operation of independent oil companies with more restricted access to capital, witnessed a relatively higher proportion of delays and cancellations.
The period leading into 2011 saw a significant improvement in the health of the global economy. Indeed, demand for energy strengthened as economies around the world showed signs of recovery, and commodity prices improved whilst credit was once again becoming available to cash strapped independent operators. This increasingly positive operating environment had an inflationary impact on near-term Capex as 2010 levels finished higher than were previously forecasted at the beginning of last year. Infield Systems expects the mid-term prospects for the floating platform market to remain positive with strong growth in 2012, 2013 and 2014. Indeed, the development of a number of large projects, specifically in West Africa and Brazil, will contribute heavily to the jump in capital expenditure that is expected from 2012 onwards.
Whilst the macro fundamentals of the oil and gas industry have improved since the release of Infield Systems' 2010 floating production outlook, so too have the technological drivers of the sector itself. Indeed, the continued exploration and appraisal (E&A) of deepwater acreage is providing a robust foundation for long-term growth. Moreover, industry players continue to develop remote oil and gas fields that demand hydrocarbon storage. However, it is also important to note that floating production systems continue to be deployed in mature oil and gas basins in relatively shallow waters. The cost savings associated with the redeployment of FPSOs in regions such as the UK North Sea is also driving the market forward.
Overall Infield Systems forecasts the majority of future floating production Capex to be directed towards FPSO installations over the forthcoming five year period, accounting for 62% of total sector spend. Following FPSOs, semi-submersibles are forecast to account for 18% of industry Capex, TLPs for 11%, other floaters for 6% and spar style platforms for 2% of total spend.
The Africa and Latin America regions, specifically Angola, Nigeria and Brazil, continue to be the primary driving force behind floating production Capex. However, Infield Systems notes significant growth in other regions and countries. For example Australasian spend is expected to grow from 2011 onwards as operators develop the large floating structures required for projects such as Ichthys and Prelude. European spend is also expected to grow robustly over the same period – largely driven by projects in the North Sea, including Skarv, Goliat, Schiehallion, Quad 204 and the possible Rosebank FPSO.
The number of projects with a firm status has increased from our previous forecasts on the back of improved market fundamentals. In Infield Systems' 2010 floating production outlook a total of 67 projects were either under development or considered firm (progressed through final investment decision). Today this figure has risen to 91, clearly indicating the increased strength of the floating production market and the potential opportunities for offshore oil and gas contractors going forward.
Purchasers of the Global Perspectives Floating Production Systems Market Report To 2015 receive 12 months access to a database of floating production platform facilities which are being planned or considered for installation in the current year and four years forward, worldwide. Floating Production Systems Online (Essentials) is continually updated. The following types of facility are included:
For each project the following information is provided:
The Floating Production Systems Online (Essentials) access can be upgraded to Floating Production Systems Online (Professional) or Floating Production Systems Online (Professional Plus) or to include other data sets from the Infield Offshore Energy Database, including: shallow and deepwater fields, fixed platforms, subsea completions, pipelines, control lines, offshore loading, supply chain contracts, vessels, drilling rigs and onshore terminals or LNG and GTL plants and facilities.
Floating Production Systems Online (Professional) identifies both floating production systems and floating storage offloading facilities that are currently operational or being planned or considered for installation from the current year onwards.
Floating Production Systems Online (Professional Plus) includes the same information as the Professional edition but also includes details of the offshore loading systems, including:
Details about each system include:
To order The Global Perspectives Floating Production Market Report To 2015, please complete the order form below.
For reports supplied electronically, the PDF file is restricted to a single user at a single site with a single print to hard copy. Additional single user copies may be purchased for use within a single organisation. A corporate licence provides two printed copies of the report and a PDF with for use within your organisation.
The Floating Production Systems Online (Essentials) online access may be upgraded to either the Professional or Professional Plus versions. Prices for upgrades, additional and corporate licences are set out below.
All prices are shown below are exclusive of VAT at the prevailing rate where applicable.
Infield Systems uses the File Open system to control the distribution and copyright of their reports and you must be able to install the File Open Plug In which is available from http://plugin.fileopen.com in order to open and print the report PDFs.
By purchasing this document, your organisation agrees to Infield Systems Limited's Standard Terms and Conditions of Business and your organisation will not copy or allow to be copied in part or whole or otherwise circulated in any form any of the contents without prior written and specific permission from Infield Systems Limited. Infield Standard Terms and Conditions of Business are available either upon request or at www.infield.com.
Choose your option to buy
Buy your hard copy and enter the quantity of additional copies of your choice