MEDIA RELEASE PR36556
ODS-Petrodata: FPS Installations Fall Far Short of Industry Projections
HOUSTON, Oct. 14 /PRNewswire-AsiaNet/ --
The number of floating production systems (FPSs) installed over the
course of the 2009 to 2013 time period will be lower than many industry
watchers predict. The near-term FPS market will see near decade lows in new
FPS installations following the paucity of new contract awards since the
third quarter of 2008.
"The end result is that even with a record number of FPS installations in
2009, activity over the full 2009 through 2013 period will result in only
around 100 FPS installations (excluding FSOs), a far cry from the 120 plus
installations predicted in some industry corners," says Robert Moers, Product
Manager - Floating Production at ODS-Petrodata.
While activity is poised to pick up over the next 12 to 18 months, a
rapid return to annual contract award levels at or near historic highs is
unlikely.
"The longer-term outlook for the industry remains quite positive.
However, considering that over half of the forecast figure is already
accounted for as a 2009 installation or a unit already under construction,
incremental activity in the form of new contract awards will not ramp up fast
enough to push installations well above the 100-unit mark before the end of
2013." -- ODS-Petrodata FPSbase Quarterly Report -- Fourth Quarter 2009 edition
ODS-Petrodata's FPSbase Quarterly Report details supply and demand for
all types of floating production systems, to provide a comprehensive snapshot
of the global FPS market. The report includes expert commentary on today's
market, contract activity, vessel construction and demand forecasts.
To learn more about ODS-Petrodata's FPSbase Quarterly Report or the FPS
market, contact Robert Moers at rmoers@ods-petrodata.com or visit
Contact:
Robert Moers
832-463-3018
SOURCE: ODS-Petrodata
CONTACT: Robert Moers of ODS-Petrodata
+1-832-463-3018
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