FPSO Market dries up in Brazil

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Most of the oil riches in Brazil have come to production via the FPSO.  For the first time in many years there will be ZERO FPSO’s ordered for use in Brazil.  As seen in the attached chart, it will take several years for activity to increase.  This will have a great affect on the future production of Petrobras.

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  1. The new Petrobras Investment Plan will verify this. After the corruption scandal, the rigs that were contracted to Sete Brasil, 10 were cancelled, and all of them delayed. The Petrobras production goals, under the new plan, are to be more realistic and maybe reach 2.9mm bpd by 2020 instead of the original 4.2mm bpd under the old plan. However, Petrobras has never hit a production target yet…

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