South America will remain a key region in the offshore oil and gas sector, especially for deep and ultra-deepwater projects, where regional spending could total around $170 billion across the offshore supply chain. A significant share of this investment will be allocated to projects in Brazil, especially those operated by Petrobras. Rystad Energy and FPSO Network has produced a report to showcase the potential for a significant surge in sanctioning of floating production storage and offloading (FPSO) projects over the next five years, following a slowdown in 2024.

South America continues to dominate the global floating production storage and offloading (FPSO) market, awarding nearly half of all global floater contracts in the last five years. Despite the rise in refurbished, relocated and reused FPSOs since early 2022, the region continues to favor the deployment of newbuild units, especially for large-scale projects in Brazil’s ultra-deepwater pre-salt polygon and offshore developments in Guyana. View the report to find out more

The Equatorial Margin of Brazil is a burgeoning frontier for hydrocarbon exploration and development, attracting global attention for its untapped resources and strategic significance. This region spans a vast area along Brazil's northern coastline, encompassing basins such as Foz do Amazonas, Pará-Maranhão, Barreirinhas, and Potiguar. Its geological characteristics, resource potential, and environmental sensitivities make it a focal point for industry stakeholders and policymakers.

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.

Held on 23 – 26 May 2023 at the Windsor Convention Centre (Rio de Janeiro, Brazil), over 150 leaders across the region’s FPSO industry gathered at the FPSO Brazil Congress 2023! Back in full glory after the pandemic, we were once again treated to exciting case studies and discussions amongst Oil producers, FPSO contractors and more. These leaders came together at this exclusive FPSO-focused platform to explore best practices on future-proofing the oil giant’s industry with pre-salt fields, low carbon emissions, remote operations and more

Ahead of the FPSO Brazil Congress 2024, we have put together an essential easy-to-digest guidebook to some of the biggest FPSO contractors. Understand more about their strengths and benefits, operational track records, execution models, and get in touch with their unique insights on the potentials of the industry