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1997 Report
I.
STATUS OF CURRENT AND PLANNED PROJECTS
1. Floating Production Systems
Now in Operation 2
2. Systems Installed Since September
1996 5
3. Builders of Recent Floating
Production Systems 6
4. Floating Systems Now on Order
7
5. Shipyards Currently Building
or Converting Floaters 8
6. Floating Production Systems
Planned or Being Studied 9
II.
RECENT DEVELOPMENTS
1. Projects in the Planning
Stage 11
AFK
Cluster (Gulf of Mexico) 11
Offshore
Vietnam 11
Girassol
(West Africa) 11
Moho
(West Africa) 12
Terra
Nova (Newfoundland) 12
West
Bonne Bay (Newfoundland) 12
Hebron
(Newfoundland) 13
Aquari
(West Africa) 13
Diana
(Gulf of Mexico) 13
Hoover
(Gulf of Mexico) 13
Snøhvit
(Barents Sea) 13
Tchatamba
(West Africa 13
Lavrans
B (Norwegian Sea) 14
Buckland
(North Sea) 14
Janice
(North Sea) 14
Cantarell
(Mexico) 15
Speculative
Floater 15
2. Floating Systems on Order
Morpeth
Mini-TLP (Gulf of Mexico) 15
Roncador
Production Semi (Brazil) 16
Connemara
Multi-Purpose Ship (Ireland) 16
Jotun
FPSO (North Sea) 17
Didon
FPSO (Mediterranean) 17
Genesis
Spar (Gulf of Mexico) 17
Bunga
Kekwa FPSO (Southeast Asia) 18
Banff
FPSO (North Sea) 18
Marlin
TLP (Gulf of Mexico) 19
Galley
Production Semi (North Sea) 19
Balder
FPSO (North Sea) 19
Åsgard
B Gas Production Semi (North Sea) 20
Ross/Parry
FPSO (North Sea) 21
P
37 FPSO (Brazil) 21
3. Systems Recently Installed
Marlim
Sul 3 FPSO (Brazil) 21
Oribi
Production Semi (South Africa) 22
Foinaven
FPSO (North Sea) 22
Captain
FPSO (North Sea) 23
Ram
Powell TLP (Gulf of Mexico) 23
Ukpokiti
FPSO (West Africa) 23
Nang
Nuan B FPSO (Thailand) 23
Neptune
Production Spar (Gulf of Mexico) 24
Durward
& Dauntless FPSO (North Sea) 24
MacCulloch
FPSO (North Sea) 24
Cossack
Pioneer FPSO (Australia) 25
III.
UNDERLYING MARKET DRIVERS
1. Outlook for Offshore Oil
Production 27
2. Crude and Gas Prices 29
3. Cost of Developing Offshore
Fields 31
4. Incentives for Deepwater
Production 31
5. Longer Term Caution 32
IV.
TECHNOLOGY AND COMPANIES
1. Floating Gas Liquefaction
Plants 33
2. Multiple Use Production Vessels
34
3. Production Control Buoy 35
4. Floating Seabed 35
5. Statoil/Rasmussen Joint Venture
36
6. Pelican Island Shipyard Closes
36
7. Blazer Energy Acquired by
Statoil 36
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