The pace of FPSO awards is expected to quicken in the coming months on the back of an improving price for a barrel of crude.
A new report from Energy Maritime Associates shows there were three FPSO awards in the first quarter, the same as in Q1 2020.
EMA expects the pace of awards to increase toward the end of 2021 and has identified 29 projects – including 14 FPSOs and five production semis – that are most likely to be sanctioned in the next 12 months. This assumes continued management of the global pandemic and oil prices remaining in the $60s.
EMA data shows there are currently 297 production units and 103 FSOs in operation, 201 projects in the planning pipeline and 41 production units, eight FSOs and two MOPUs on order.