FPSO market headed for major renaissance, Rystad says

The global market for floating production, storage and offloading vessels (FPSOs) is headed for a major renaissance with as many as 24 FPSO awards expected by 2020, driven to a great degree by Brazil, according to Norwegian energy research and consultancy firm Rystad Energy.

South America leads the pack with 12 sanctioned FPSO projects planned by the end of next year, followed by Asia with four, Europe and Africa with three each, and two more in Australia, Rystad Energy said on Tuesday.

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