The market surge is being driven by crude prices that have climbed to the mid-$80s on fast rebounding oil demand growth, supply constraints by OPEC+ and inadequate investment by upstream players to replace production.
IMA/WER’s floating production report has up-to-date details and contracting status for more than 200 floater projects in the planning stage. Around 55% of these envisage use of an FPSO. Another 10% will require a production semi.
The rest are LNG and floating storage projects. The report also has details for 45 production or storage floaters on order, more than 300 floating production units in service and 40 production floaters available for redeployment contracts.