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The FPSO market is expected to grow strongly this year

  • Last Update: 2023-03-15
  • Source: Internet
  • Author: User
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According to an analysis released on January 6, the global floating production storage and offloading (FPSO) market will be almost unaffected by the epidemic in 2021 and is expected to continue to grow
in 2022.

In the fourth quarter of 2021, the global FPSO market signed 2 lease contracts, 2 front-end engineering design contracts and 1 deferred award contract
.
Brazil is the largest contributor
to the FPSO market in 2021.
Seven of the 10 contracts signed throughout the year belong to Brazil
.
The P80 project FPSO has an oil processing capacity of 225,000 bpd and a natural gas processing capacity of 12 million m3/d, the same size as the
Tamandal FPSO project awarded in early 2021.
Yinsen has received 2 letters of intent from Petrobras to provide FPSO integration services for the Jubarte field, with production
scheduled to begin at the end of 2024.
In 2022, the FPSO project with the largest production capacity is also expected to appear in Brazil
.

In Guyana, ExxonMobil awarded SBM Offshore a FPSO contract for the development
of the Yellowtail project in the Stadbrook block.
The FPSO facility is designed to have an oil processing capacity of 250,000 bpd, natural gas capacity of 450 million cubic feet per day, and storage capacity of up to 2 million bpd
.
When completed, the project will be ExxonMobil's largest FPSO production
ever.
The Prosperity and Yellowtail projects will go into production in 2024 and 2025, respectively, when ExxonMobil's total FPSO processing capacity in Guyana will exceed 800,000 bpd
.
In 2022, the South American market is expected to become an important pole
to promote the development of the FPSO market.

In 2022, the UK, Angola, Australia, China and Malaysia are expected to sign one contract
each in the international FPSO market.

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