Top 5 Vendors in the Floating Production Storage and Offloading Market from 2017 to 2021 | Technavio

November 15, 2017

LONDON–(BUSINESS WIRE)–#FPSO—Technavio
has announced the top five leading vendors in their recent global
floating production storage and offloading market report.
This research report also lists five other prominent vendors that are
expected to impact the market during the forecast period.

The global floating production storage and offloading market is expected
to grow at a moderate rate during the forecast period. The decline in
crude oil prices, which started in July 2014 had a major impact on the
E&P activities of the oil and gas industry. The industry had witnessed a
huge decline in upstream investments between 2015 and 2016.

Competitive vendor landscape

The global floating
production storage and offloading market is fairly consolidated with
the presence of many large international vendors across the globe. The
top five vendors constitute approximately one-third share of the market.
The major players in the market are Bumi Armada, BW Offshore, MODEC,
Petrobras, and SBM Offshore. The vendors include only the floating
production storage and offloading operators.

“The market is highly competitive with the players competing to gain
more market share. Intense competition, rapid advances in technology,
and the ever-changing market dynamics are the key factors fueling
competition among vendors. The competitive environment in this market is
expected to intensify during the forecast period with the increase in
product extensions and technological innovations. It could also result
in mergers and acquisitions,” says Thanikachalam Chandrasekaran, a
lead oil
and gas research analyst from Technavio.

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Top five floating production storage and offloading market vendors

Bumi Armada

As of 2016, Bumi Armada owns and operates one liquified natural gas
(LNG) FSU and nine floating production storage and offloading units
worldwide, out of which three are under joint venture operations. The
company has extensive experience across Europe, Asia, Africa, and Latin
America.

BW Offshore

BW Offshore is one of the major players in the global floating
production storage and offloading market. As of March 2017, the company
has delivered 38 projects, out of which 28 are floating production
storage and offloading projects with an average uptime of 98%.

MODEC

As on 2016, the company operates 19 floating production storage and
offloading vessels. It has also delivered nine floating production
storage and offloading projects to its customers. The company averages
99% uptime in its operations. The FPSO Cidade de Campos dos Goytacazes
MV29 is under construction with delivery in Q4 2017.

Petrobras

As on 2016, Petrobras has a total fleet size of 184 vessels including 56
owned vessels. These vessels include FPSOs, drilling vessels, and oil
and gas tankers. The company owns 14 FPSO vessels and operates 13 out of
them. Other vessels are operated under joint ventures or where Petrobras
is the majority shared owner. Petrobras operates in the pre-salt and
post-salt areas offshore Brazil using its vessels such as P-58, P-62,
FPSO Cidade de Mangaratiba, Cidade de Ilhabela and others.

SBM Offshore

As on 2016, the company operates and maintains 14 floating production
storage and offloading vessels. The company added 3 FPSOs to its fleet
in 2016. Its average oil production uptime is 96.80%. FPSO Turritella
installed at a depth of 2,896 meters is the deepest FPSO in the world.

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