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Floating Production Systems
February 1997 Report

I.     OUTLOOK FOR OFFSHORE PRODUCTION     1

1.     Crude and Gas Prices    1
2.     E&P Spending Plans    2
3.     Deepwater Activity    3
4.     North American Offshore Production    4


II.     UPDATE ON CURRENT FLOATING PRODUCTION PROJECTS     7

 1.     Aquila FPSO Vessel    8
 2.     Balder FPSO Vessel    9
 3.     Banff FPSO Vessel    9
 4.     Bunga Kekwa FPSO Vessel    9
 5.     Captain FPSO Vessel    10
 6.     Curlew FPSO Vessel    10
 7.     Elang/Kakatua FPSO Vessel    10
 8.     Foinaven FPSO Vessel    11
 9.     Guillemot & Teal FPSO Vessel    11
10.    Laminaria and Corallina FPSO Vessel    12
11.    MacCulloch FPSO Vessel    13
12.    Pierce FPSO Vessel   13
13.    Skua FPSO Vessel    14
14.    Terra Nova FPSO Vessel    14
15.    Tyrihans FPSO Vessel    15
16.     Ukpokiti FPSO Vessel    15
17.     Zafiro FPSO Vessel    16
18.     Åsgard Gas Production Semi    17
19.     Diana Production Semi    18
20.     Oribi Production Semi & Storage/Shuttle Tanker    18
21.     Galley Production Semi    19
22.     Marlin TLP     19
23.     Troll C Production Semi    20
24.     Morpeth MINI-TLP     20
25.     Ram Powell TLP     21
26.     Genesis Production Spar    21
27.     Neptune Production Spar    21
28.     Petronius Compliant Tower    21
29.     Escravos LPG Storage Barge    22
30.     Lu Feng Multi-Purpose Tanker    22
31.     Dai Hung FPU     23
32.     Mariner FPU     23
33.     JNOC FPU     24
34.     Cauvery FSO     24
        35.     Erawan FSO     24
36.     N'kossa Gas Storage& Offloading Vessel    25
37.     Siri Jack-Up Platform    25
38.     Speculative Projects    26


III.     TECHNOLOGY DEVELOPMENTS     29

1.     Mooring Systems    29
2.     Leasing Of Process Plants    31
3.     Gas Liquefaction Plants    31
4.     Paraffin And Deepwater Fields    32
5.     Tension Leg Platforms    32


IV.     RECENT INDUSTRY ACTIVITY     35

1.     Petrobras    35
2.     Woodside    36
3.     Astano    36
4.     Cadiz    36
5.     Mitsui    37
6.     Umoe Haugesund    37
7.     Aker    37
8.     ABB     38
9.     A.P.MØLLER     38
10.   Fred.Olsen Production    38
11.   Golar Nor    39
12.   Sofec    39
13.   Frank Mohn    39