Brazil propelling FPSO market rebound

Feb. 1, 2022
Rystad Energy expects 10 FPSO contract awards in 2022.

The market for FPSO units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to Rystad Energy. Two lease contracts were awarded in 4Q 2021, bringing the total for the year to 10 – up from just three in 2020 – a strong rebound for the FPSO market. Brazil is expected to continue driving global awards in 2022, with three expected this year. In 2022, Guyana is expected to contribute one FPSO to the global total, with the UK adding two projects. Angola, Australia, China, and Malaysia are forecast to each award one new FPSO contract this year.