Friday, October 2, 2015

More tanker conversions to come?

Over the course of the next five years, 64 FPSOs could enter service, which could give a boost to the tanker conversion market.
According to’s report ‘Global FPSO Industry Outlook - Brazil Leads Record FPSO Deployments Despite Deteriorated Project Economics’, Brazil will drive the global FPSO sector growth with an expected start-up of 25 FPSOs by 2019.

Development of fields in the sub-salt and post-salt areas in the deep and ultra deep Brazilian offshore areas will drive the FPSO deployment in the country.

In Europe, development of offshore projects in the North Sea and Barents Sea will also see the deployment of FPSOs. For example, the UK is expected to witness the introduction of seven FPSOs by 2019 to develop offshore fields in its continental shelf, while Norway will see deployment of three FPSOs.

In addition,SBM Offshore’s main Brazilian subsidiary has received written notification from Petrobras that the company will be allowed to participate in the recently issued Libra and S├ępia FPSO tenders. 

This follows a thorough review of the group’s compliance standards by Petrobras, including its compliance department. 

A definitive invitation to bid on the Libra FPSO tender requires approval by the partners in the Libra field.  SBM Offshore said that it continued to be in active dialogue with the relevant Brazilian authorities.
The company normally uses converted tankers for its FPSO contracts, buying the hulls itself and installing the equipment at yards in Singapore or China before the final fitting out in Brazil.

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