New research has been released which indicates that Australia will account for all floating production, storage and offloading vessels (FPSOs) planned for deployment in Oceania during 2019 – 2025.
GlobalData’s report, ‘Q1 2019 Global FPSO Industry Outlook – Australia Leads FPSO Deployments in Asia-Pacific’ states that across the globe there are 26 planned and 41 announced FPSOs expected to start operations between 2019 and 2025.
In Oceania, all the five upcoming FPSOs (Barossa, Browse 1, Browse 2, Buffalo (Re-Development), and Crux) are announced FPSOs.
Woodside Browse Ltd. leads among operators with two upcoming FPSOs, which are expected to commence operations during the outlook period.
The rest of the operators – Shell Development (Australia) Pty Ltd, Carnarvon Petroleum Ltd and ConocoPhillips – will operate one FPSO each during the period.
Global planned and announced FPSO additions (by regions), 2019-2025. Image source: GlobalData.
In other regions, South America continues to lead with 30 planned and announced FPSO additions by 2025.
With 23 planned and announced FPSOs, Brazil topped South America’s list for the most FPSOs planned during the period and was followed closely by Falkland Islands and Guyana with four and three FPSOs, respectively.
GlobalData Oil and Gas Analyst, Soorya Tejomoortula, said Brazil is deploying FPSOs to develop subsalt hydrocarbon reserves in the Campos and Santos basins, while FPSOs in Australia are primarily being deployed to develop conventional natural gas fields.
Africa was recorded as the second highest region with 14 upcoming FPSO additions by 2025. Angola and Nigeria are the key countries in the region with five and four upcoming FPSO additions between 2019–2025. Senegal, Ghana, South Africa, Tunisia and Mauritania followed with one upcoming FPSO each.
More information on GlobalData’s report can be found here.
