Press release
FPSO Market 2017: Market Size, News, Region of Operations, Advancement, Strategies Forecast to 2025
FPSO Market 2017
In addition, these units are effective in deep water or remote locations, where seabed pipelines are not affordable. Moreover, the need to install long-distance pipelines from the processing facility to onshore points is eliminated, which presents an affordable solution for smaller oil fields. Furthermore, on depletion of fields, the unit can be shifted to a new location.
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Growth in demand for exploration & production in offshore fields and increase in demand for converted FPSO are factors that fuel the growth of the FPSO market. However, low crude oil prices limit the market growth. Adoptability for operation in deep well and high return on investment create new growth opportunities for the market.
The global FPSO market is segmented on the basis of product type, depth, and geography. Based on product type, the market is classified into converted, redeployed, and newly built. Water depth segment is categorized into shallow water, deep water, and ultra-deep water. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key players operating in the global FPSO market are
-SBM Offshore N.V.,
-Hyundai Heavy Industries Co. Ltd.,
-MODEC Inc.,
-BW Offshore,
-Yinson Holdings Berhad,
-Aker Solutions ASA,
-Samsung Heavy Industries Co. Ltd.,
-Teekay Corporation,
-Bluewater Energy Services B.V., and others.
These players have adopted product launches, merger & acquisition, expansion, collaborations, joint ventures, partnerships, and others to strengthen their position in the industry.
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