Video: FPSO market adapting to meet growing demand

The global FPSO market is projected to reach $19.65 billion by 2030.

The global FPSO market is growing dramatically and is projected to reach $19.65 billion by 2030. Currently, about 20-25 FPSOs are under construction or planned for deployment over the next five years, with Brazil and Guyana as key hubs due to their prolific offshore fields. With this heavy demand, operators are employing a range of strategies to meet their needs, including newbuilds, conversions and upgrades, and redeployment and refurbishment of existing vessels.

*This video originally published on Offshore's website on June 20, 2025.

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