Oil, New Investors Keeping FPSO Market Buoyant

Rising oil prices are bolstering the numbers of floating production systems on-order or in the planning stage, with fresh orders from Northern Europe and Brazil merely adding to a buoyant market, a new report says.

In the doldrums just a few years ago, the market for floating production and storage units (FPSO); floating liquefied natural gas (FLNG) and somewhat complementary floating storage and re-gasification vessels (FSRU), now includes 267 vessels on order or in the planning stage. The report by World Energy Reports identifies new players and project partners who have formerly kept out of this complicated but cost-efficient means to oilfield development.

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