An expected surge in FPSO awards in 2021 and 2022 is set to double fabricators’ pipeline
Τhe FPSO market is booming this year, with more contracts awarded in the second quarter of 2021 than during the full year 2020. Rystad Energy expects FPSO awards to reach a total of 10 units in 2021, with another 10 following next year, creating a very healthy project line-up for contractors, effectively doubling their pipeline.
Four FPSOs were awarded in the second quarter and we believe another four will be awarded before the end of the year. Including the two awards from the first quarter, this will bring the total tally up to 10 FPSO contract awards in 2021 – more than triple the three awards from 2020 – signaling a rapid comeback in FPSO contracting activity, despite the Covid-19 pandemic.
FPSO Demand Booming: 10 Units Expected To Be Ordered In marinelink.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marinelink.com Daily Mail and Mail on Sunday newspapers.
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An expected surge in FPSO awards in 2021 and 2022 is set to double fabricators’ pipeline - Rystad Energy
01 Jul 2021
Τhe FPSO market is booming this year, with more contracts awarded in the second quarter of 2021 than during the full year 2020.
Rystad Energy expects FPSO awards to reach a total of 10 units in 2021, with another 10 following next year, creating a very healthy project line-up for contractors, effectively doubling their pipeline.
Four FPSOs were awarded in the second quarter and we believe another four will be awarded before the end of the year. Including the two awards from the first quarter, this will bring the total tally up to 10 FPSO contract awards in 2021 – more than triple the three awards from 2020 – signaling a rapid comeback in FPSO contracting activity, despite the Covid-19 pandemic.
Rystad forecasts 20 FPSO awards for 2021 and 2022 energyvoice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energyvoice.com Daily Mail and Mail on Sunday newspapers.
Bumi, Shapoorji Pallonji plan LNG facility in Mumbai
SP Armada Clean Energy Ventures, a joint venture between Malaysia s Bumi Armada and India s Shapoorji Pallonji Oil and Gas, has entered into a license agreement to set up, operate and maintain a floating storage and regasification unit (FSRU) in Mumbai harbour for a period of 30 years, Bumi said on May 19.
Under the license agreement, both SP Armada and Port of Mumbai will have 270 days to fulfill the required conditions and finalised the deal. The agreement was signed on May 18. Mumbai-based Shapoorji Pallonji Oil and Gas owns 51% in SP Armada while Manila-listed Bumi Armada holds the remaining 49%.