As New Year 2020 unfolds, there are 21 floating production, storage and offloading units (FPSO) on order, and unlike a year ago, these — and not floating liquefied natural gas (FLNG) — are the unheralded story. Driven by a decent price for oil, this buoyant market is kept strong by new players, new business models and the now solid realization that FPSOs can cost less than new, jacketed oilfield development. Most of all, nations are again asking industry to concentrate capital and rein in remote-area wealth.
The national oil companies (NOC) are back. In the World Energy Reports Forecast of Floating Production Systems, an industry authority, China’s and Brazil’s floaters figure prominently. The new year dawned with pronouncements in Rio (and in Beijing and other capitals).
Brazil Energy Insight 
Leave a comment