Singapore: Eirik Barclay, ceo of Yinson Production, has outlined his bullish take on the FPSO sector in the region. Barclay, who headed up Fred Olsen Production before it was taken over by Malaysia’s Yinson recently, told local media at a naming ceremony for an FPSO, that both Southeast Asia and Africa held a lot of promise for FPSOs. The market could see up to 50 FPSO contracts awarded this year alone, Barclay said. Yinson now controls six FPSOs.
“We will space out our contracts to make sure we don’t take on more than we can handle,” Barclay said, adding: “An industry-wide consolidation has left about seven active FPSO players globally, and each tender usually attracts about three serious bids.” [11/03/14]