The South American region is the global leader in the floating production, storage and offloading (FPSO) segment, both in terms of active platforms and future projects. There will be an average of four FPSOs commencing operations in the region annually over the next five years, driven by developments in Brazil and Guyana, accounting for about 42% of the total global projects involving this type of platform. More than 80% of South American projects that will start operations between 2024 and 2028 are in Brazil, mainly operated by Petrobras.
Download the Report to find out more about FPSO Projects in South America. Join the Upcoming FPSO Brazil Congress 2024 happening on 21 - 24 May as we explore project fundamentals with South America's Oil & Gas leaders.
Ahead of the FPSO Brazil Congress 2024, leading energy research and business intelligence company Rystad Energy has published the market report “FPSO Market Challenges and Project Fundamentals in Brazil” The offshore upstream segment will play a significant role in meeting oil and gas demand for the coming years, which keeps the relevance of offshore rig vessels, subsea, floating production storage and offloading (FPSO), and other offshore service segments. After several years of decline, the offshore oil and gas industry is entering a new era of investment as of 2022. Offshore capital expenditure (capex) increased 15% in 2023 and is forecasted to grow 12% next year, achieving a level of $93 billion.
For many in the FPSO industry the issue of balancing CAPEX and OPEX remains a thorn in their side.
FPSO projects are resource-intensive with high CAPEX on top of high operating and maintenance costs (high OPEX). This puts pressure on the industry to continuously evolve the business models and tap into innovations to achieve commercial success. What can projects do to balance the CAPEX and OPEX?
We spoke with Eduardo Chamusca de Azevedo, Country Director – SBM Brazil and Felipe Baldissera Gabriel, Commercial and Contracts Manager, MODEC to get their thoughts.
IQPC and the FPSO Network conducted an in-depth industry survey with our global community to provide a holistic and well-balanced benchmark when it comes to vessel integrity and FPSO operations. We hope you find this report useful.
In this report, we will look at:
With FPSO Brazil Congress 2023 returning this year, we are excited to bring you our latest article on Unlocking Brazil's Offshore Wind Potential.
This report was produced in collaboration with Gustavo Ferreira, Project Developer at Corio Generation, and the teams from Corio Generation and Servtec.
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Ahead of the FPSO Brazil Congress, we spoke to industry leaders to find out what is driving the growth of projects in the region, trends affecting the market and challenges of low-manned vessels.
Insights and feedback were provided by:
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Optimizing developments while boosting exploration: How Brazil can make the most of its resources amidst the energy transition
In this special Rystad Energy outlook on the upstream sector in Brazil, we will first focus on the outlook for upstream resource replacement, and how the country needs to fast-track exploration of its undiscovered resources to boost resilience and examine its current pipeline of oil and gas projects up for sanctioning.
Brazil is one of the world’s foremost Oil and Gas leaders. The previously “closed” economy is now open to the world thanks to new local content policy and regulations set in place.
Here we explore the latest local content updates and what it means for the international market in regard to project execution models and working with local teams.
We also talk with Pietro Ferreira, Senior Regional Analyst at the Energy Industries Council’s (EIC) regional office in Rio de Janeiro about his take on the local content requirements and regulatory changes occurring in Brazil.
Download the article to read more.
Find out who's attending the FPSO Brazil Congress 2023!
Attending companies include Shell, Petrobras, TotalEnergies, Equinor and many more.
Brazil is seen to be a key driver of the FPSO market over the next few years. Therefore to maximize this window of opportunity, project execution and development need to be fast-tracked as much as possible.
With input from industry leaders in the Brazil market, we explore different ways in which the industry can do so.
Download the article to learn more.