A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.
Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT). REGISTER HERE.
The effects of the COVID-19 crisis and oil supply glut continue to seriously dampen investment appetite in the oil and gas sector, putting new deepwater project starts on hold through at least the third quarter of this year.
But with oil prices now in the low $40s range on the back of OPEC+ supply cuts and rebalancing oil supply and demand, WER expects oil prices to continue to rise over the next six months toward a gradual pickup in floating production activity beginning in late 2020/early 2021.
Petrobras said on Friday it has approved the start of a tender to build three new floating production, storage and offloading units (FPSO) to join four already operating in the Buzios oilfield. The company aims to have a dozen FPSOs operating in the large deepwater oilfield by the end of the decade.
WER expects deepwater projects in Brazil, as well as Guyana, Australia and potentially Nigeria, will be in the vanguard of production floater orders as the offshore rebound begins.
Webinar speakers Matthew Tremblay, ABS Senior Vice President of Global Offshore Markets, and Jim McCaul, World Energy Reports Managing Director, will address these developments and more, with insight into the 214 floater projects in the planning stage, 44 production or storage floaters now on order, 306 floating production units currently in service and 40 production floaters available for redeployment contracts. REGISTER HERE.