Petrobras and Brazil will continue to dominate the deployment of global FPSOs over the next five years, data and analytics company GlobalData has reported.
According to GlobalData, Petrobras is expected to deploy six planned and nine announced FPSOs by 2025. GlobalData says that during the 2019 – 2025 period, the year 2023 will witness the highest number of FPSO deployed with four deployments.
Adithya Rekha, Oil and Gas Analyst at GlobalData, explains: “Petrobras is expected to add a total crude oil production capacity of 1.5 million barrels per day (mmbd) through its upcoming FPSOs by 2025. Among the upcoming FPSOs operated by Petrobras, Mero 3 and Mero 4 will have the highest crude oil production capacity of 0.2 mmbd each during the outlook period.”
GlobalData expects Modec will follow Petrobras in the number of FPSO deployments, four upcoming FPSOs by 2025.
Per GlobalData, all of the upcoming FPSOs in the company’s portfolio are planned and the Japanese firm is expected to add a total crude oil production capacity of 0.6 mmbd through these upcoming FPSOs by 2025.
According to Rekha, in the 2019-2025 period, SBM Offshore will occupy the third position with the operatorship of three planned FPSOs by 2025.
“These FPSOs are expected to add a total crude oil production capacity of 0.5 mmbd during the forecast period,” Rekha said.
21 FPSOs for Brazil by 2025
In expected FPSO deployments by countries for the same period, Brazil is expected to keep the first place with 21 planned and announced FPSOs during the outlook period 2019 to 2025.
The company’s report, ‘Q4 2019 Global FPSO Industry Outlook – South America Spearheads Global FPSO Deployments’, reveals that Brazil is expected to deploy a total of 11 planned and ten announced FPSOs by 2025. The crude oil production capacity of these upcoming FPSOs is expected to be 2.5 million barrels per day (mmbd) during the outlook period.
Adithya Rekha, Oil and Gas Analyst at GlobalData, explains: “In Brazil, FPSOs are being deployed to develop hydrocarbons in the Santos and Campos basins. The state-owned company, Petrobras, is primarily deploying these FPSOs.”
Angola is expected to deploy the second-highest number of FPSOs globally with five planned by 2025. All the upcoming FPSOs in the country are announced projects. Sonangol P&P and Cabinda Gulf Oil Company are leading in terms of number of deployments in the country with two FPSOs each, while BP Angola will operate the remaining FPSO.
Rekha concludes: “The UK and Nigeria jointly occupy the third position with the deployment of four FPSOs each by 2025. Both countries have one planned and three announced FPSOs, which are expected to be deployed during the outlook period.”
Featured image by SBM Offshore / Graphics Source: GlobalData
Offshore Energy Today Staff
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