International Maritime Associates, Inc.     |   home

 News Release
  July 23, 2005

 

GROWING DEMAND FOR
FLOATING PRODUCTION SYSTEMS

 

The floater market is clearly benefiting from the underlying robust oil and gas market. Recent order intake has been very high, many near term floater projects have energed and the longer term planning pipeline is filling.

Some highlights from IMA's July report on floating production systems:

        176 production floaters are operating, 34 more are on order

        The number of production floaters in operation has tripled over the past ten years

        12 contracts have been placed for new production floaters since beginning 2005

        Asian builders have contracts for 40 percent of production floaters now on order

        93 new projects in the planning stage will likely require a floater solution

        About one-third of these new projects are at the final design or bidding stage

        Between 82 and 104 new floaters will be required over the next five years

        Orders for these floaters will generate capital expenditure of $25 to 33 billion

        FPSOs will represent about 70 percent of future production system orders

        Spars, TLPs and production semis will make up the remaining 30 percent



The July report is the 25th in a series of studies on floating production systems that IMA has been preparing since 1996. In each report we look at the floating production market from the viewpoint of future requirements for new production units.

                                                                                               For further information pls contact

                                                                                               Jim McCaul
                                                                                               Tel:   202-333-8501
                                                                                               Fax:   202-333-8504
                                                                                               Mobile:   202-415-8501
                                                                                               Email:   imaassoc@msn.com