Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Rystad forecasts 20 FPSO awards for 2021 and 2022

© Sevan SSP/ Sembcorp MarineScottish Government oil
An artist impression of the proposed Cambo FPSO. The field has become a key climate battleground.

A total of 20 FPSO awards are expected to be made in 2021 and 2022, bringing a boost to fabrication yards, according ot new analysis from Rystad Energy.

The market is back to “booming” and set to double fabricators’ pipelines of work, the consultancy said.

In 2021, 10 awards are expected to be made, more than triple that of 2020, including Mero 4 and Parque das Baleias in Brazil, Limbayong in Malaysia and Liuhua 11-1 in China.

Then, in 2022, another 10 awards are expected, including for the vessels to be stationed at the Hibiscus Marigold and Siccar Point Cambo fields in the UK.

Most of the remaining projects for 2022 will be for Latin America, with four bound for Brazil and one for Guyana.

Aleksander Erstad, energy service research analyst, said: “It’s not that contractors were out of business, there are currently over twenty FPSOs under construction, one of which is likely to start-up already this year.

“But after a weak 2020, the recent awards and the expected ones are doubling the pipeline, ensuring manufacturers will keep busy in the years ahead.”

Last year, GlobalData looked at deployment of FPSOs worldwide and put the UK as the second-highest through to 2025.

The aforementioned Marigold and Cambo, along with Shell Pengins and Equinor Rosebank were on their list.

GlobalData also mentioned Bentley, however a deal has since been made for EnQuest to acquire the field from Whalsay Energy, with a development option yet to be decided

Rystad looked at the various yards in running for work in 2021.

In Brazil, Petrobras is evaluating bids for the two Brazilian FPSOs, Mero 4 and Parque das Baleias, but  only received bids from one supplier for each of the FPSOs.

Rystad said SBM Offshore was the sole bidder for the larger unit, Mero 4, while Yinson was the only player to bid for the smaller Parque das Baleias FPSO.

“The muted interest comes as the FPSO supply chain is nearing full capacity with several supplier unable to take on new projects”, the consultancy said.

Meanwhile in Malaysia, Yinson, MISC, Sabah International Petroleum, and a consortium comprising Bumi Armada, MTC and Shapoorji Pallonji are all in the running for the Petronas Limbayong FPSO.

In China, CNOOC is looking for a cylindrical FPSO to redevelop the Liuhua 11-1 and Liuhua 1-4 fields in the South China Sea, with COOEC, Cosco and CIMC likely to be involved.

Recommended for you

More from Energy Voice

Latest Posts