Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData.
Brazil is expected to deploy a total of 11 planned and ten announced FPSOs by 2025. The crude oil production capacity of these upcoming FPSOs is expected to be 2.5 million barrels per day (mmbd) during the outlook period. In Brazil, FPSOs are being deployed to develop hydrocarbons in the Santos and Campos basins.
Brazilian state-controlled oil, natural gas and energy giant Petroleo Brasileiro (Petrobras) is expected to deploy six planned and nine announced FPSOs by 2025. It is expected that 2023 will witness the highest number of FPSO deployments with four.
“Petrobras is expected to add a total crude oil production capacity of 1.5 million barrels per day (mmbd) through its upcoming FPSOs by 2025. Among the upcoming FPSOs operated by Petrobras, Mero 3 and Mero 4 will have the highest crude oil production capacity of 0.2 mmbd each during the outlook period,” said Adithya Rekha, Oil and Gas Analyst at GlobalData.
Angola is expected to deploy the second highest number of FPSOs globally with five planned by 2025. All the upcoming FPSOs in the country are announced projects. Sonangol P&P and Cabinda Gulf Oil Company are leading in terms of number of deployments in the country with two FPSOs each, while BP Angola will operate the remaining FPSO.
Meanwhile in Guyana, ExxonMobil projects that by 2025, 5 FPSOs could be operating on the Stabroek Block producing around 750,000 barrels of oil per day. Industry analyst Wood Mackenzie has ramped this up to 6 FPSOs by 2026 producing around 800,000 barrels per day.