Westwood Expects 40 FPSOs to be Ordered in 2020-2024 Period

Energy industry analysts seem to agree that the future is bright, or at least brighter, when it comes to the contracting activity for the floating production systems, from 2021 onwards after COVID-19 and low oil prices hit the market in 2020.

Norway’s Rystad earlier this week said that, apart from the Sangomar FPSO ordered by Woodside in January, it expected no further FPSO orders this year. It said, however, it expected a spike in FPSO orders next year with seven new awards.

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