World’s largest FPSO supplier SBM Offshore is set to increase its fleet as it plans to order another Fast4Ward FPSO hull soon.
Fast4Ward is the company’s program aimed to standardize the FPSO construction and delivery process, thus reducing cost and speeding up the time to the market by up to 12 months.
The company has already ordered two units with China’s SWS shipyard. The first hull was ordered in 2017, and the second in November 2018, both on speculation and without a firm contract at the time of order, signaling positive industry outlook. The first unit is expected to be deployed at Exxon’s Liza 2 project in Guyana, subject to Exxon making a final investment decision.