2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
1
THE FPSO INDUSTRY
OUTLOOK 2015/2016
In this report, we have compiled some of the latest findings of the FPSO market based on our
latest survey conducted with our attendees who attended our event,
FPSO World Congress 2015.
The following graphs provide key insights into the top challenges faced by the industry amid
low oil prices, the market outlook for 2016 and investment priorities for some of the biggest
companies operating in the industry.
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2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
2
WHAT WILL BE YOUR FORECAST ON OIL PRICE IN 2015 - 2016?
48%
$50 - $60
35%
17%
$60 - $70
$70 and above
Repondants
forecast on oil prices
in 2015 – 2016
HOW HAS THE LOW OIL PRICE AFFECTED FPSO CONTRACTING AND EXECUTION?
45%
35%
20%
Fewer
opportunities in
the FPSO market
Delay in the decision
making process for
new projects
Projects on
hold / frozen
The low oil price
has created less
opportunities for
FPSO contracting
and execution
DO YOU THINK IT IS CHALLENGING TO
DELIVER COST-EFFECTIVE PROJECTS
AMID LOW OIL PRICES?
70%
It is challenging
to deliver costeffective projects
amid low oil prices
30%
TOP CHALLENGES FACING THE FPSO MARKET
37%
33%
30%
23%
19%
Delivering projects
on time
Cost control
Project execution
engineering and design
Competitive market
Changes in oil price
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2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
3
HOW DO YOU SEE THE FPSO MARKET IN 2015 - 2016?
19%
27%
40%
Getting
better
14%
Will slow
down
Strong
consolidation
No change
Most
respondents feel
the FPSO market
to slow down in
2015 - 2016
GEOGRAPHICAL FOCUS IN TERMS OF FPSO PROJECTS
33%
North Sea
13%
Mediterranean
76%
Asia Pacific
33%
68%
Americas
West Africa
WHAT PERCENTAGE OF YOUR FPSO PROJECTS
ARE CONVERSIONS VS. NEW BUILDS?
85%
15%
Conversions
New Builds
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Majority of
the FPSO
projects are
conversions
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2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
4
WHICH PHASE ARE YOUR PROJECTS PREDOMINANTLY IN?
76%
45%
36%
Execution
Operational
Pre FEED / FEED
Majority of projects
are at execution
stage now
ARE YOU LOOKING AT THE NEW BUILD MARKET IN THE NEXT 2/3 YEARS?
67%
33%
Most companies are looking at the new build market over the next 2/3 years
INVESTMENT PRIORITIES IN THE NEXT 12 MONTHS FOR OIL AND GAS OPERATORS
90%
Classification Societies
72%
Asset Integrity
Within Topsides
100%
Engineering
71%
Maintenance Services
54%
Design Consultancies
81%
EPCs
55%
Powering and
Automation
63%
Topside Technologies
55%
Water Treatment/
Injection
45%
Vessel Contractors
33%
36%
Lawyers
Banks
27%
Equipment (ie. pipes,
valves replacements)
27%
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78%
Processing/
Compression
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Services/
Providers
55%
Gas
|
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2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
5
INVESTMENT PRIORITIES IN THE NEXT 12 MONTHS FOR VESSEL CONTRACTORS
81%
Design Consultancies
Asset Integrity
75%
Engineering Services
69%
63%
Topside Technologies
63%
EPCs
56%
Classification Societies
44%
Maintenance Services
31%
Construction Materials (ie.Steel, etc)
Equipment Providers
Transportation
25%
6%
Within Topsides
60%
90%
Powering and Automation
Engineering Services
60%
50%
Water Treatment/Injection
Equipment Providers
50%
20%
Gas Processing
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Gas Compression
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2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
6
INVESTMENT PRIORITIES IN THE NEXT 12 MONTHS FOR EPCs
86%
Asset Integrity
and Design
86%
Classification
Societies
71%
Topside
Subcontractors
57%
Engineering
43%
Services/
Providers
Within Topsides
Within Asset Integrity
71%
75%
Gas Processing
Coatings
75%
71%
Service and
Maintenance
Compression
57%
50%
Engineering
Services
Consultants
57%
50%
Equipment
Providers
Corrosion
43%
50%
Powering and
Automation
Safety and Risk
43%
25%
Water Treatment/
Injection
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Chemicals
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2015 POST EVENT REPORT | A SNAPSHOT OF THE FPSO MARKET IN 2015/2016
7
ESTIMATED SPEND WITHIN THE NEXT 12 MONTHS FOR OIL AND GAS
COMPANIES, VESSEL CONTRACTORS AND EPCS
51%
More than USD 100 Million
11%
9%
10%
USD 41 - 60 Million
USD 21 - 40 Million
USD 11 - 20 Million
19%
USD 5 - 10 Million
THE WORLD’S LEADING ONLINE PORTAL
COVERING THE LATEST NEWS, AND CONTENT
PERTAINING TO THE ENTIRE FPSO LIFECYCLE.
An international resource and content centre for
the FPSO professional, FPSO Network delivers the
latest, up-to-date, insightful, and unbiased information
pertaining to the entire FPSO lifecycle value chain.
FPSO Network, part of IQPC and associated with
the world-famous FPSO Congress series, maintains
the largest international database, offering strategic
partners, members, and contributors an unparalleled
opportunity to network, share ideas and disseminate
best practice information in designing, executing,
delivering and operating FPSOs across the world with
peers.
FPSO Network www.fpsonetwork.com is an online
portal dedicated to producing in-depth, value-adding
content to the global fpso business. FPSO Network
offers you the opportunity to connect, collaborate and
communicate with the global FPSO community.
9,000 MEMBERS
& COUNTING...
We represent one of the world’s fastest growing online
communities throughout the oil and gas world. We
provide industry professionals and senior business
decision-makers with exclusive information, news and
trends through videos, event presentations, articles,
webinars, online seminars and conferences.
We are widely respected as one of the most credible
sources of content in our industry. Our portal represents
a valuable channel for solution providers to demonstrate
year-round thought leadership in specific areas in a
cost- and time-effective way.
The FPSO Network provides research, training,
and networking for oil company, vessel contractor,
EPC, shipyard, financing, legal and solution provider
professionals from over 50 countries around the world.
Whether you come from an oil operator, upcoming
vessel contractor or established solution provider,
FPSO Network offers you the opportunity to connect,
collaborate and communicate with the global FPSO
community.
For more information please contact Rani Kuppusamy
at rani.kuppusamy@fpsonetwork.com
All the survey respondents
attended our event, FPSO
World Congress 2015, for more
information about this
T: (65) 6720 9388
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For more research
and analysis on The
FPSO Market
|
enquiry@iqpc.com.sg
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