Ods-petrodata: Fps Installations Fall Far Short Of Industry Projections

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14th October 2009, 12:21pm - Views: 542





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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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