FPSO Challenges Ahead

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The year 2015 saw global capital spending on newbuild and converted FPSO vessels reach approximately $8.65 billion, a surprising feat for a sector facing dire circumstances1. A worldwide drop in oil prices, paired with an oil and gas industry inflation hovering at 10 percent to 15 percent2, has made the future of the FPSO market uncertain. Amid the crisis, how will developing regions such as West Africa fare?
Read the article to find out more.