May 2014, Vol. 241, No. 5

Projects

FPSO Market Set For Major Increase

Douglas-Westwood’s new World Floating Production Market Report forecasts that between 2014 and 2018 $99 billion will be spent on floating production systems (FPS) – an increase of 138% over the preceding five-year period. Report author, Damilola Odufuwa, said, “FPSOs will form the largest segment of the market (80%) both in terms of units installed and forecast Capex over the 2014-2018 period. Latin America accounts for 29% of the 139 installations forecast and 38% of the projected Capex. The FPS sector recovery following the 2008/2009 downturn continues steadily. A total of 54 units were ordered in 2011-2013, compared to 23 units during 2008-2009. There has

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