Middle East and Africa Leads the World in Terms of FPSO-based Capacity
London, England -- (SBWIRE) -- 03/26/2012 -- The global Floating Production Storage and Offloading (FPSO) market is dominated by the Middle East and Africa, accounting for nearly a third of the global FPSO-based crude oil and natural gas production capacity of 5,197.01 million barrels of oil equivalent (MMboe) in 2011. South and Central America and Asia-Pacific contribute 27.3% and 21.8%, respectively, to the global FPSO-based production capacity.
Out of the 26 countries using FPSO vessels for offshore production, Brazil, Angola and Nigeria are the three largest aggregaters of FPSO-based crude oil and natural gas production capacity worldwide. These three countries collectively contribute about half of the total FPSO-based crude oil and natural gas production capacity in the world.
At the end of 2011, there were 139 active FPSOs across the globe with 94 companies holding equity stakes in them. In terms of total FPSO-based crude oil and natural gas production capacity, Petrole Brasileiro S.A., ExxonMobil Corporation and Total S.A. position are the dominant companies in the global market. These companies together contribute about 29.2% of the global FPSO-based oil and gas production capacity
For Sample Pages, please click or add the below link to your browser:
The Brazilian national oil company Petroleo Brasileiro S.A. is the largest market player globally, in terms of FPSO-basd oil and gas production capacity, with 703.59 MMboe of the production capacity. The total equity-weighted FPSO-based crude oil and natural gas production capacity of Petroleo Brasileiro S.A. accounts for about 13.5% of the total production capacity of FPSOs globally.
For 2012 to 2015, Brazil has planned the largest FPSO-based crude oil and natural gas production capacity expansion among all the countries.
Therefore, based on current statistics, Brazil, which currently has the largest FPSO-based crude oil and natural gas production capacity, is expected to continue to be the market leader in the FPSO industry in 2015.
Brazil has huge offshore reserves. Its pre-salt discoveries have provided a major boost to the FPSO industry. Brazil’s Petroleo Brasileiro S.A. has planned to add 12 FPSOs during 2012 to 2015. This will increase Brazil’s FPSO-based annual production capacity to 1,635.14 MMbbl of crude oil and 1,231.35 billion cubic feet (bcf) of natural gas. This is the highest production capacity expansion planned by any country for the period.
FPSO vessels can be moved and moored in shallow, deep and ultra-deep waters. These vessels can be designed to withstand and operate in harsh environmental conditions in the sea. If required, an FPSO can be disconnected with a day’s notice and sailed to a safer location to avoid the damage caused by adverse weather. This mobility of FPSOs can help oil and gas companies operating in tough environmental conditions to avoid monetary losses arising from such damage.
“Floating Production Storage and Offloading (FPSO) Industry - Global Market Analysis, Competitive Landscape and Planned Projects to 2015”, is the latest report from GlobalData, the industry analysis specialist, that provides an in-depth analysis of the global FPSO industry to 2015. The report details all the major countries, major companies and FPSOs in the various regions of the world. The report also provides key trends and challenges in the global FPSO market and plans for FPSO deployments in different countries globally. It also details the competitive landscape globally, and details the operations of the major FPSO companies.
For further details, please click or add the below link to your browser:
Visit our report store: http://www.globaldata.com/reportstore
For more details contact:
+1 646 395 5477
+44 207 753 4299
+44 1204 543 533
+91 40 6616 6782