Infinium Global Research has added a new report on FPSO Market.
The report presents analysis of global as well as regional markets of market
over the period of 2016 to 2024. Floating Production Storage and Offloading
vessels, or FPSOs, are offshore production facilities that stock both
processing equipment and storage for produced hydrocarbons. Floating Production
Storage, Offloading has become the primary method for many offshore oil and gas
producing regions around the world. An
FPSO is a floating production system that receives fluids such as crude
oil, water and a host of other things from a subsea reservoir through risers
that then separate fluids into crude oil, natural gas, water, and impurities
within the topsides production facilities on the ship. The main advantage of
FPSO are reduced sincere investment and retained value as they can be relocated
to other fields. FPSOs are especially
useful in newly established offshore oil regions where there is no pipeline
infrastructure in place, or in remote locations where building a pipeline is
cost-prohibitive.
The oil and gas companies have pushed the exploration
of oil and gas from onshore and offshore areas, which is driving the growth of
the FPSO market. In addition, FPSOs have also become more popular in the oil
industry because of their lower cost relative to traditional offshore oil
platforms. The demand for FPSO is anticipated to rise owing to the expansion in
the oil and gas industries along with the incentives that are supported by the
government that is boosting the growth of the FPSO market. However,
construction and building of new FPSO require high initial investment, which is
the restraining factor for the growth of the FPSO market. Furthermore, demand
for new-build and converted FPSO vessels have increased due to the declining
rate of new onshore oil discoveries to historic low levels and from technology
that enables efficient deep-water oil exploration in extraordinary ocean
depths. This, in turn, is providing huge growth opportunities for the key
players in the FPSO market. Among the geographies, South America dominated the
FPSO market. The growth in the FPSO is due to the huge investment in the
upstream activity related to reserves of hydrocarbons. Moreover, the National
Oil Company of Brazil, Petroleo Brasileiro (Petrobras) has the most
constructive plans for the development of the country's sub-salt hydrocarbon
resources in the Santos and Campos basins through FPSO. Expansion in the FPSO
market in Brazil is attributed to the increasing investment in exploration of
deep-water areas. Moreover, the growth matrix presented by Infinium Global
Research identifies the key investment markets in the near future, this will
not only help the companies to understand the competitive position in the
global FPSO market but also make strategic decisions to capture the most
lucrative markets in the near future. The market size is presented in terms of
value for the historic year 2016 and estimated for forecast period of
2018-2024.
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The recent report identified that South America
dominated the global FPSO market over the last couple of years, while emerging
markets of Asia-Pacific and Latin America are anticipated to contribute
significantly to the growth in the FPSO market worldwide.
The report segments the global FPSO market on the basis
of Product Type and Carrier Type.
Global FPSO Market by Product Type
·
Oil
·
LPG
·
LNG
Global FPSO Market by Carrier Type
·
Converted Ship
·
New Build
Ship
·
Redeployed
Companies Profiled in the Report
·
MODEC, Inc.
·
SBM Offshore N.V
·
BW Offshore
·
Bluewater Energy Services B.V
·
Bumi Armada Berhad
·
Yinson Holdings Berhad
·
Teekay Corporation
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