December 2011, Vol. 238 No. 12

Projects

Global Floating Production Spend To See Huge Growth

Latin America will account for half of the projected floating production Capex over the next five years according to a Douglas-Westwood report. DW director Steve Robertson said, “The dominance of this region is largely due to Brazilian operators Petrobras and OGX plans to massively increase their fleets of floating production systems. A key driver is Petrobras’s multi-FPS developments in its pre-salt fields in the Campos and Santos basins. We forecast that Latin American Capex for the 2012-2016 period will total $34 billion, with 50 FPS deployments, a huge growth on the $12.5 billion spent during the previous five years.” Douglas-Westwood’s latest editio