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www.marinelink.com 33by Þ eld operators, 31 are being supplied by leasing contractors. Brazil continues to dominate orders for production ß oat-ers ? 26 units are being built for use off- shore Brazil, 34% of the order backlog.Planned Projects The number of planned ß oater projects continues to grow. 248 projects poten- tially requiring a ß oating production or storage system are now in the planning stage. A year ago, 216 projects were be- ing planned. Five years ago, the Þ gure was 134 projects.Brazil is the principal location for new ß oating production projects. The huge pre-salt oil reserves offshore Brazil have been generating deepwater Þ nds at a rapid pace. Africa is in second place in terms of planned ß oater projects, fol- lowed by Southeast Asia, Gulf of Mexi- co and Northern Europe.The growth in number of planned projects reß ects the huge increase in deepwater drill equipment over the past decade. More than 150 drillships or deepwater semis have been ordered since 2003, removing a bottleneck that constrained exploration and develop-ment in deepwater. The result has been a dramatic increase in ß oater projects in the planning pipeline.Five Year Forecast Our analysis indicates a requirement for 124 to 190 additional production ß oaters between 2013 and 2017. The most likely Þ gure is 160 orders ? which would be 40% greater than the number of orders over the past Þ ve years. FPSOs are expected to account for around 70% of future production ß oater orders. The remaining 30% will be pro- duction semis, spars, TLPs, FLNGs and FSRUs. Around 60 % of FPSO orders will be placed by leasing contractors, 40 % by Þ eld operators. Modi Þ cation and redeployment of existing FPSOs will satisfy around 20 % of future FPSO re-quirements.Capital expenditure to procure this equipment is projected to be in the range of $90 to $130 billion over the next Þ ve yearsTerms Used: FPSO ? Floating Production, Storage and Ofß oading Vessel FSO ? Floating Storage and Ofß oading Vessel (no production plant) FSRU ? Floating LNG Storage and Re-gasiÞ cation Unit FLNG ? Floating LNG Liquefaction PlantSemi ? Production SemisubmersibleTLP ? Tension Leg Platform SPAR ? Production Spar (cylindrical shape)FPS ? Floating Production System (all types)Hyundai Heavy Industries (HHI) received a letter of award for a $1.3B order for a ß oating production unit (FPU) and a $700m order for a tension leg platform (TLP) from Total E&P Congo on March 26. Hyundai Heavy will carry out en- gineering, procurement, supply, construction, and commissioning for the two offshore facilities to be deployed in Moho Nord Þ eld, 80 km off Republic of the CongoÕs coast. The 14,600-tonne vertically moored ß oating TLP will be used to extract oil and natural gas, and transport those to the ß oating production unit. The 62,000-tonne FPU, measuring 250 m in length, 44 m in width, and 18 m in depth, will process the received oil and gas, and send the products to onshore plants via subsea pipelines. The FPU has a production capacity of 100,000 bar- rels of oil and 2.5 million cubic metres of natural gas per day. Order the IMA Floating Production Study The new IMA study Floating Production Systems: assessment of the outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs provides details for? 264 production ß oaters and 102 storage ß oaters currently in service and key characteristics of each unit? 250 production ß oaters and 103 storage ß oaters delivered or redeployed since 1996 identifying the builder/conversion yard of each unit? 77 production ß oaters, 10 storage ß oaters and 2 MOPUs currently on order, key features of each unit and the delivery status? 248 ß oating production projects in the visible planning cycle, type unit likely to be utilized on the project and the status of project development? 124 to 190 production ß oaters forecast to be ordered over the next Þ ve years. ? 25 to 35 storage/ofß oading ß oaters forecast to be ordered over the next Þ ve years An outline of the report and purchase details is available on the IMA website at www.imastudies. com. Further information can be obtained by contacting Jim McCaul byEmail: imaassoc@msn.com or Tel: +1-202-333-8501. MR #4 (26-33).indd 33MR #4 (26-33).indd 334/2/2013 9:37:59 AM4/2/2013 9:37:59 AM
