Last Updated on 12th September 2023
An FPSO (Floating Production Storage and Offloading unit or vessel) facilitates O&G production, processing, and storage at sea. Compared to traditional offshore oil platforms, FPSOs save time and money and are ideal for transporting hydrocarbons produced from wells, nearby platforms, or subsea equipment without the need for heavy infrastructure and investment.
FPSO vessels are particularly suited for deepwater or remote locations where it is not feasible to lay seabed pipelines. In areas of the world subject to cyclones or icebergs, FPSOs are capable of releasing their mooring/riser turret system and steaming away to safety in an emergency.
Keep reading to learn more about the top players in the global FPSO market.
Table of Contents
Global Top 20 FPSO Companies [2023]
Companies Ranked by Owned FPSOs (FPSO Operators)
Petrobras
CNOOC Ltd.
TotalEnergies SE
ExxonMobil Corporation
Equinor ASA
Shell plc
Woodside Energy Group Ltd.
Vår Energi ASA
Aker BP ASA
Chevron Corporation
Companies Ranked by Fleet Size (FPSO Contractors)
MODEC, Inc.
SBM Offshore N.V.
BW Offshore Limited
Bumi Armada Berhad
Yinson Holdings Berhad
Altera Infrastructure
Bluewater Energy Services
MISC Berhad
Century Energy Services Ltd.
MTC Engineering
Blackridge Research & Consulting – Global Floating Production Storage and Offloading Market Report
Wrapping Up
Here are the world’s leading FPSO companies (listed by owned FPSOs and fleet size):
Founded: 1953
Location: Rio de Janeiro, Brazil
Petróleo Brasileiro S.A. (also known as “Petrobras”) is a globally leading oil, natural gas, and energy company renowned globally for its ultra-deepwater oil exploration technology. As of July 2022, Petrobras’ fleet consisted of 123 owned and chartered vessels. It plays a significant role in FPSO projects in Brazil.
While Petrobras’ main operations cover basins, refineries, terminals, and pipelines, as well as thermal power plants, its areas of expertise comprise the following:
Petrobras’ activities focus on Brazil’s deepwater and ultra-deepwater oil reservoirs—accounting for 95% of its total production in 2021.
As most of its oil reserves are in offshore fields, Petrobras undertakes offshore drilling activities to reach ever-greater depths to meet the increasing energy demand.
In Brazil, Petrobras works with over a hundred production platforms, mostly fixed platforms.
Here are the different types of platforms that Petrobras uses for its offshore operations:
Fixed: A drilling and production platform that reaches depths of up to 300 m.
Jack-up: A drilling rig that reaches depths of up to 150 m.
Semi-submersible: A drilling and production platform that reaches depths greater than 2,000 m.
FPSO and FPSO Monocolumn: Production, storage, and offloading platforms that reach depths greater than 2,000 m.
TLWP (Tension Leg Well Platform): A production platform that reaches depths of up to 1,500 m.
Drilling Vessel: A drilling rig that reaches depths greater than 2,000 m.
FPSO Fleet
Petrobras’ FPSO fleet includes:
According to Petrobras, the FPSO P-63 can process “140,000 barrels of oil, a million cubic meters of gas, and inject 340,000 barrels of water per day.”
An FPSO is ideal for production in deep and ultra-deep waters. In an FPSO, the shuttle vessels drain the oil while the gas flows through flexible pipelines.
The FPSO is anchored to the seabed and reaches a water depth of more than 2,000 m (modern anchoring systems can install it at greater depths).
In most cases, the FPSO is converted from an oil tanker. Furthermore, the FPSO’s storage capacity enables it to operate at great distances from the coast where it is not feasible to build pipelines.
FPSO Monocolumn
The Piranema Platform is an FPSO Monocolumn that reaches a water depth of more than 2,000 m (depth at the installation/operation site). It shares similar characteristics with an FPSO, but has a cylindrical hull and smaller movements than those of an FPSO-type vessel.
In addition, the production flow of the FPSO and FPSO Monocolumn involves offloading the oil to tankers, which offload the oil later at the terminals.
With responsible investments in refining, logistics, and gas, Petrobras is committed to efficiently meeting customer needs, increasing operational reliability and safety, and supporting emission reduction.
Founded: 1999
Location: Beijing, China
CNOOC Ltd. (China National Offshore Oil Corporation) is one of the world’s largest independent E&P companies and “China’s largest offshore natural gas and crude oil producer.”
As a globally leading O&G company, CNOOC explores, develops, produces, and sells crude oil and natural gas and has O&G assets worldwide, including:
CNOOC’s core operation areas comprise the following:
CNOOC and its subsidiaries lease various FPSOs and offices for its operations. For example, the 2022 Annual Report states that “CNOOC Energy Technology & Services Limited leased FPSO vessels for use in oil production operations.”
According to a news release, the FPSO “Hai Yang Shi You 123” was delivered to CNOOC in Nantong, Jiangsu.
It is the first smart FPSO in China that integrates digital technologies, including AI (Artificial Intelligence), Big Data, cloud computing, edge computing, and IoT (the Internet of Things).
Additionally, the FPSO applies digital twin technology to share data between the onshore and offshore units—allowing for intelligent production and operation management.
Find out FPSO and FSO projects in China.
Founded: 1924
Location: Courbevoie, France
TotalEnergies SE is an integrated energy and petroleum company and one of the seven supermajor oil companies. As a global multi-energy company, TotalEnergies is active in close to 130 countries and produces and markets the following:
A company press release reported an important milestone of an agreement related to the future development of the Cameia and Golfinho fields (located on Blocks 20 and 21) in the Kwanza basin. TotalEnergies EP Angola (operator) holds an 80% interest in each block, while Sonangol Pesquisa e Produção S.A. holds 20% as part of the agreement.
Founded: 1999
Location: Irving, Texas, United States
ExxonMobil Corporation (Exxon) is known as one of the largest integrated fuels, lubricants, and chemical companies in the world and “the largest direct descendant of John D. Rockefeller’s Standard Oil.”
Ranked among the world’s top oil companies, ExxonMobil was formed by the merger between Exxon Corporation and Mobil Corporation.
ExxonMobil’s primary businesses include upstream, product solutions, and low-carbon solutions.
ExxonMobil – A Leading Floating Production Unit Operator
ExxonMobil operates diverse floating production units, including:
FPSO
SPAR
TLP
ExxonMobil is supporting a lower-emission future by investing heavily in the development of global energy resources and contributing significantly to the expansion of LNG projects worldwide.
Founded: 1972
Location: Stavanger, Norway
Formerly known as “StatoilHydro” and “Statoil,” Equinor ASA is one of the world’s largest O&G suppliers. Equinor has transitioned from a Norwegian O&G company into an international energy company with a global presence in 30+ countries.
Equinor was founded by the Norwegian government to manage the country’s vast O&G resources. Over the years, Equinor has been a major contributor to Norway’s status as a leading O&G exporter through O&G exploration, development, and production.
Equinor’s decades of progress have earned it recognition in various ways, such as:
- “A world-leading offshore operator”
- “An international pioneer in renewables and low-carbon solutions”
- “The largest oil and gas operator in Norway”
- “The second-largest gas supplier in Europe”
- “The largest gas producer on the Norwegian Continental Shelf”
According to an industry news source, an Equinor ASA subsidiary (Equinor Brasil Energia Ltd.) has signed an agreement with MODEC, Inc. for an FPSO vessel expected to be delivered in 2027.
While Equinor is the operator at BM-C-33 with 35% interest, Repsol Sinopec Brasil (35%) and Petrobras (30%) are partners.
The two-phase lump sum turnkey contract covers FEED (Front End Engineering Design) and EPCI for the FPSO, which will be permanently moored at a water depth of about 2,900 m.
Compared to conventional VLCC (Very Large Crude Carrier) tankers, the FPSO will feature MODEC’s new build and full double hull design to accommodate larger topsides and larger storage capacity with a longer design service life.
MODEC is reported to provide Equinor with FPSO O&M service for the first year from first oil production, with Equinor subsequently taking over as the operator.
Additionally, it will be a fully electrified FPSO that generates power using a combined cycle system to reduce carbon emissions.
Founded: 1907
Location: London, United Kingdom
Shell plc (Shell) is one of the world’s major O&G companies and known as “the world’s largest LNG trader.” Originally known as “Royal Dutch Shell Plc,” the company changed its name to “Shell plc” in 2022. As a global group of energy and petrochemical companies, Shell operates in 70+ countries.
As an LNG pioneer for more than 50 years, Shell is reported to have started today’s global trade by shipping the first commercial cargo from Algeria’s LNG liquefaction plant to the UK in 1964.
Shell continues to expand LNG availability around the world by improving LNG technology and supporting the development of safe designs for onshore and offshore LNG facilities, ships, and terminals.
As one of the world’s largest LNG shipping operators, Shell manages and operates LNG carriers constituting around 11% of the global LNG shipping fleet.
Apart from LNG supply projects in 10 countries, Shell has major interests in regasification plants and long-term access to capacity in many others in Asia, Europe, North America, and the Middle East.
North Sea Assets
Shell’s O&G operated assets in the North Sea include:
Central and Northern North Sea
Southern North Sea
Pierce
Pierce is an FPSO located in the licence blocks 23/22a and 23/27a, which is used for extracting, processing, storing, and offloading crude oil from the Pierce North and South fields.
The FPSO extracts crude oil through subsea wells, processes and stores it in cargo tanks prior to offloading via a shuttle tanker. On the other hand, processed gas is exported via a pipeline to the SEGAL (Shell Esso Gas and Associated Liquids) system.
Founded: 1954
Location: Perth, Australia
Formerly known as “Woodside Petroleum Ltd.,” Woodside Energy Group Ltd. (Woodside) is a world-renowned petroleum exploration and production company and “the largest Australian natural gas producer.”
Named after the small Victorian town of Woodside, the Australian energy giant is not only famous as “Australia’s LNG pioneer” but also a leading supplier of condensate, crude oil, LPG (Liquefied Petroleum Gas), and pipeline natural gas.
With 35+ years of operating experience in Australia, Woodside’s expanded global portfolio now comprises quality operating assets in the Gulf of Mexico (U.S.) and Trinidad and Tobago.
Woodside has an excellent track record in integrated shipping, operations, marketing, and trading activities across condensate, crude, LNG, and NGL cargoes.
Apart from LNG trains and offshore gas platforms, Woodside operates FPSO vessels and a network of pipeline and subsea infrastructure in the Australian waters.
Woodside’s international exploration assets are located in various regions, including Africa, Asia-Pacific, Europe, and the Americas.
A company media release reported the completion of the FPSO facility construction for the Sangomar Field Development Phase 1, which will be Senegal’s first offshore oil project encompassing the FPSO, 23 wells, and supporting subsea infrastructure that allows the tie-in of subsequent phases.
Woodside is the operator with 82% participating interest in the project, and PETROSEN holds the remaining 18%.
COSCO, BOMESC, MODEC, and PJOE have played a key role in completing the fabrication and conversion works of the FPSO vessel—a converted VLCC with a capacity to produce 100,000 barrels per day of oil.
Founded: 2018
Location: Sandnes, Norway
Vår Energi ASA is an industry-leading independent O&G producer and one of Norway’s largest E&P companies.
With 50 years of operations on the Norwegian Continental Shelf (NCS), Vår Energi has a diversified and robust asset portfolio and a strong exploration track record.
Vår Energi’s O&G production comes from 39 different fields in the Barents Sea, the North Sea, and the Norwegian Sea.
The Jotun FPSO re-float and turret installation have been safely completed as per Vår Energi’s second-quarter 2023 results presentation, which also refers to the completion of seven of 15 producing wells.
The Balder Future Project
As one of the largest NCS projects, the Balder Future Project is key to Vår Energi’s future growth and production, with the first oil planned for the third quarter of 2024. The project focuses on the development, life extension, and exploration of established oil extraction areas.
For example, development in the area involves upgrading and life extension of the Jotun production ship (FPSO). The refurbishment and relocation of the Jotun FPSO from the Jotun field to the Balder area will accommodate tie-ins of 14 new production wells and one new water injection well with future expansion capacity.
In addition, the project will extend the Jotun FPSO’s technical lifetime beyond 2045.
Founded: 1971
Location: Fornebu, Norway
Aker BP ASA is a globally recognized O&G exploration and production company and one of Europe’s largest independent listed oil companies.
Aker BP operates six assets, including:
Alvheim FPSO
Alvheim is located in the North Sea’s central part (close to the British sector) and has large recoverable O&G resources.
The Alvheim FPSO was discovered in 1998 and production started in 2008.
Aker BP’s aims to produce “one billion barrels through the Alvheim FPSO” and extend the lifetime of the field center—debottlenecking to improve the FPSO capacity is underway to facilitate tie-in of more discoveries in the future.
Skarv FPSO
Skarv is a field in the Norwegian Sea’s northern part and has “one of the world’s largest offshore gas-processing plants.” The Skarv FPSO was discovered in 1998 and production started in 2013.
Aker BP is also a partner in Johan Sverdrup.
Aker BP ASA focuses on operating with the “lowest possible costs and emission per produced barrel.”
An industry news source reported that Aker Solutions—the Norwegian oilfield services provider—secured multiple contracts with Aker BP, with the projects representing “Aker Solutions’ highest-ever quarterly order intake.”
Founded: 1879
Location: San Ramon, California, United States
Chevron Corporation is an integrated O&G company active in more than 180 countries. Formerly known as the “Standard Oil Company of California,” Chevron is the second-largest direct descendant of Standard Oil.
Founded as “Pacific Coast Oil Co.,” the company was bought by the Standard Oil Co. & Trust in 1900. Later, it took on the name “Chevron” in 1984. Chevron runs California’s two largest oil refineries in El Segundo and Richmond and maintains 25,700 service stations worldwide under the brands “CalTex,” “Chevron,” and “Texaco.”
As per an industry news source, Chevron reportedly canceled a USD 1.8 billion FPSO for use at Chevron’s Rosebank O&G field. Designed to survive severe storms, the FPSO would have been one of the UK continental shelf’s deepest-moored vessels—handling “up to 100,000 barrels per day of oil and 80 million cubic feet per day of natural gas.”
Chevron is helping meet the global energy demand through a consistent focus on operational excellence, targeted investments, and major operations in some of the world’s most significant O&G regions.
Other significant players in this segment include BW Energy Ltd., Dana Petroleum plc, Jadestone Energy, and Prio SA (formerly known as “PetroRio SA”).
Founded: 1968
Location: Chuo-ku, Tokyo, Japan
MODEC, Inc. (MODEC stands for “Mitsui Ocean Development & Engineering Company) is an industry-leading global supplier and operator of offshore floating platforms.
MODEC has evolved from a specialized marine equipment and vessel contractor into a reliable partner for challenging offshore O&G production projects, such as for ultra-deepwater and harsh environments.
Owning and operating its own floating production facilities enables MODEC to provide comprehensive and competitive solutions for O&G companies worldwide.
MODEC aims to optimize its business portfolio while pioneering new business frontiers in seabed mineral resource harvesting and offshore wind power utilization.
EPCI Project Execution
MODEC’s EPCI (Engineering, Procurement, Construction, and Installation) project execution encompasses the following:
MODEC has over 50 years of experience in providing various floating O&G production systems, including:
According to a company press release, MODEC, Inc., Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL), and Marubeni Corporation agreed to collaborate on the deepwater FPSO charter project for the Tartaruga Verde and Tartaruga Mestiça oil fields off the coast of Brazil.
The FPSO named “FPSO Cidade de Campos dos Goytacazes MV29” will be chartered for 20 years under the charter agreement.
With expertise in the execution of complex, large floating production systems, MODEC continues to support its clients globally with world-class chartering, operations, and asset maintenance services.
Founded: 1969
Location: Amsterdam, Netherlands
Founded as a wholly owned subsidiary of IHC Holland, N.V., SBM (SBM stands for “Single Buoy Moorings”) Offshore N.V. is a global leader in floating production and mooring systems.
With its roots going back to 1862, SBM Offshore has over 100 years of experience in building floating machinery for the offshore energy industry.
SBM Offshore continuously invests in energy-efficient technologies and creates environmentally friendly, sustainable solutions at every level of its operations.
FPSO Turritella: In 2016, SBM Offshore installed the world’s deepest floating production system “FPSO Turritella” in the Gulf of Mexico.
SBM Offshore’s main activity is to design, supply, install, operate, and maintain FPSO vessels.
SBM Offshore’s fleet spans the globe and comprises the following units:
FPSO Fleet
A company press release stated that “FPSO Sepetiba”—SBM Offshore’s third Fast4Ward® FPSO—sailed away on June 16, 2023, from China’s BOMESC shipyard following successful completion of the topsides integration and onshore commission phases.”
It is reported that SBM Offshore has a contract with Petrobras for the “22.5 years lease and operation of FPSO Sepetiba, with the first oil expected in the second half of 2023.”
SBM Offshore’s state-of-the-art technology and operating experience make it the trusted partner for global energy providers.
Founded: Oslo, Norway
Location: 1982
BW Offshore Limited is a globally leading FPSO owner and operator with over four decades of experience in operating advanced offshore production systems and executing complex projects, including 10 FSO and 30 FPSO projects.
Using existing FPSOs has been a crucial component of BW Offshore’s business strategy, as FPSO redeployment requires less capital and time than a new build or traditional tanker conversion.
Furthermore, the BW Group (BW)—a leading global maritime company engaged in deepwater O&G production, floating infrastructure, new sustainable technologies, and shipping—is a significant shareholder in BW Offshore.
BW manages a fleet of over 490 vessels, including 200 LNG and LPG ships reported to constitute “the largest gas fleet in the world.”
FPSO Fleet
BW Offshore’s lease model allows for reduced investments and enables clients to lease the production assets from BW Offshore while focusing on their reservoir development and management competencies.
Here are the key technical specifications of BW Offshore’s FPSO fleet:
|
Name of the FPSO |
Contract Duration/ Conversion Year |
Oil Processing Capacity |
Storage Capacity |
Location/Field |
|
Abo FPSO
|
2003-2023 |
44,000 bbl/d |
940,000 bbl |
Nigeria/Abo (Africa) |
|
BW Adolo
|
2018-2028 (2038) |
40,000 bbl/d |
1,350,000 bbl |
Gabon/Dussafu (Africa) |
|
BW Catcher
|
2018-2025 (2043) |
60,000 bbl/d |
650,000 bbl |
UK/Catcher (Europe) |
|
BW Pioneer
|
2012-2025 (2030) |
80,000 bbl/d |
600,000 bbl |
U.S./Cascade & Chinook (Americas) |
|
FPSO Polvo |
2007 (conversion year) |
90,000 bbl/d |
1,266,000 bbl |
Americas |
|
Petróleo Nautipa |
2002 (conversion year) |
20,000 bbl/d |
1,075,000 bbl |
Africa |
BW Offshore continues to create tailored offshore energy solutions based on its extensive floating production experience and engineering and operating expertise.
BW Offshore’s clean energy plans also include a strategic investment in floating offshore wind.
Founded: 1995
Location: Federal Territory of Kuala Lumpur, Malaysia
Bumi Armada Berhad (Bumi Armada) is an industry-leading provider of offshore energy infrastructure and services. The Bumi Armada Group consists of diversified subsidiaries and joint venture companies.
Bumi Armada operates in over 10 countries and provides engineering, marine transportation, and maintenance services to the offshore O&G industry.
Bumi Armada’s range of capabilities includes:
Bumi Armada’s FPO (Floating Production and Operation) business specializes in engineering, procurement, construction, commissioning, and the operations of floating O&G facilities as per clients’ specific requirements.
Bumi Armada currently operates the following:
Here’s the list of Bumi Armada’s FPSOs:
|
Name of the FPSO |
Production Capacity
|
Storage Capacity |
Year Built |
Year Converted to an FPSO |
|
ARMADA TGT 1 |
55,000 bpd |
620,000 bbls |
1996 |
2011 |
|
ARMADA STERLING |
60,000 bpd (liquid production capacity) |
580,000 bbls |
1997 |
2012 |
|
ARMADA STERLING II |
26,500 bpd (oil production capacity) |
510,000 bbls |
1999 |
2014 |
|
ARMADA OLOMBENDO |
80,000 bpd (oil production capacity) |
1,700,000 bbls |
1999 |
2016 |
|
KARAPAN ARMADA STERLING III |
8,008 bpd (HC/Gas Condensate) |
570,000 bbls condensate and 1600 M3 molten sulfur (COT (Cargo Oil Tank) Storage) |
1999 |
2017 |
|
ARMADA LNG MEDITERRANA |
LNG (HC/Gas Condensate) |
123,780.103 m3 (COT Storage) |
1985 |
2016 |
|
ARMADA KRAKEN |
80,000 bopd (oil production capacity) |
600,000 bbls |
2007 |
2016 |
|
ARMADA CLAIRE (available for redeployment) |
30,000 bpd (oil production capacity) |
800,000 bbd |
1993 |
2013 |
Over the years, Bumi Armada has earned a positive reputation for its innovative solutions, quality facilities, and project management capabilities.
Founded: 1983
Location: Kuala Lumpur, Malaysia
Yinson Holdings Berhad is a global energy infrastructure and technology company, running the following business units:
FPSO Fleet
Yinson’s FPSO fleet includes:
Zero Emissions FPSO
Yinson’s “Zero Emissions FPSO” concept aims to lower emissions with innovative solutions, such as:
Yinson has an impressive track record of maintaining a fleet uptime of above 99% since 2014, with the FPSO units operating 24 hours a day, 365 days a year in harsh weather conditions.
An industry news source reported that Anna Nery achieved its first oil following a successful 72-hour testing—marking the commencement of the firm charter for 25 years, until 2048.
Anna Nery is the FPSO unit of Yinson Production (YP is Yinson Holdings Berhad’s offshore production business unit) and its project partner, Sumitomo Corporation.
Founded: 2006
Location: Hamilton, Bermuda
Altera Infrastructure (also known as “Altera”) is a world-renowned energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of Brazil, the East Coast of Canada, and the North Sea.
Altera’s offshore assets include:
FPSO Fleet
As a market leader in FPSO solutions, Altera designs, provides, and operates ship-shaped and cylindrical FPSOs to extract challenging hydrocarbons in harsh weather conditions and deep waters for its O&G clients.
According to Altera Infrastructure, its FPSO fleet, highly skilled employees and a 45-year experience in the floating sector make it “the largest and most experienced independent FPSO operator in the North Sea and the world’s fourth-largest leased FPSO operator.”
The following vessels comprise Altera Infrastructure’s FPSO fleet:
|
Vessel Name |
Year Built |
Location |
|
3R-3 |
2012 |
Papa Terra offshore oil field, Brazil
|
|
FPSO Cidade de Itajai |
1995 (Converted to FPSO in 2012) |
Baúna field, Brazil |
|
FPSO Pioneiro De Libra |
1995 (Converted to FPSO in 2017) |
Libra field, Brazil |
|
Petrojarl I |
1986 |
Atlanta field, Brazil |
|
Petrojarl Knarr |
2014 |
Leirvik, Norway |
|
Piranema Spirit |
2007 |
Angra dos Reis, Brazil |
|
Voyageur Spirit |
2008 |
Kishorn, UK |
Furthermore, Altera’s extensive experience in providing bespoke duty holder services for existing and new operators enables it to deliver production, cost, and field life efficiencies while maintaining a key focus on environment, health, and safety.
Founded: 1978
Location: Hoofddorp, the Netherlands
Founded by floating production industry experts, Bluewater Energy Services (Bluewater) designs, manufactures, supplies, and installs FPSO, FSO, and SPM systems for its clients, including global oil companies, through turnkey supply and lease contracts.
In addition, Bluewater provides operational and logistics management and support for FPSO and FSO systems.
Bluewater Energy Services’ solutions include:
FPSO Operations
Bluewater’s FPSO operations comprise the following:
FPSO Fleet
Bluewater owns and operates the following FPSO fleet:
Aoka Mizu: Aoka Mizu is a self-propelled, turret-moored, disconnectable O&G production facility designed for a harsh environment and under contract in the Atlantic region.
Haewene Brim: Haewene Brim is a self-propelled, turret-moored, disconnectable production facility that has been converted from O&G injection to O&G export. It is permanently moored in the Central North Sea.
Bleo Holm: Bleo Holm is a permanently turret-moored O&G production facility operated under a bareboat charter located in the Central North Sea.
Glas Dowr (available for redeployment): Glas Dowr is a permanently turret-moored O&G production facility.
Munin (available for redeployment): Munin is a disconnectable turret-moored O&G production facility with proven capability as a full DP FPSO.
The FPSOs are designed to produce oil and gas from offshore O&G fields cost-effectively and safely—the produced oil and gas are exported through shuttle tankers and/or subsea pipelines to the shore.
Founded: 1968
Location: Federal Territory of Kuala Lumpur, Malaysia
Incorporated as “Malaysia International Shipping Corporation Berhad,” MISC Berhad is Malaysia’s leading international shipping line and a premier provider of energy-related maritime solutions.
As one of the world’s leading floating offshore solution providers (FPSO/FSO owner) with 14 assets, MISC’s reach spans Brazil, Malaysia, Thailand, Vietnam, and other strategic locations to meet the global requirements of the O&G industry.
According to MISC, it owns the “first and largest semi-submersible floating production system in Asia.”
MISC is also credited with excellent asset performance (with uptime of over 99%).
MISC MMEGA
According to an industry news source, MISC unveiled the MMEGA (Mega-Module Engineering & Green Architecture)—believed to be “one of the world’s largest and greenest FPSOs.”
The NBFPSO (Newbuild Floating Production Storage and Offloading) vessel is a spread-moored FPSO with a double-sided, single-bottom hull and a design life of 35 years.
Designed for deepwater and ultra-deepwater fields, “the world’s first future-ready NBFPSO” features the latest mega-module topsides technology that offers various benefits, such as:
Furthermore, the MMEGA is reported to store “two million barrels of oil and offload one million barrels of oil in 24 hours.”
MISC is confident that the MMEGA will reduce project costs and timelines and generate maximum economic value for its customers.
PetroFirst is another major player in this segment—a floating energy infrastructure owner and a provider of O&G production and processing services.
In the FPSO history, Keppel Shipyard, which leads the Marine Division of Keppel Offshore & Marine Ltd. (now part of the Seatrium Group), is renowned for being “the first shipyard in Asia to convert a tanker to an FPSO in 1981.”
Keppel Shipyard states that it has a successful track record of completing “the most number of FPSO, FSO, FSRU, and FLNG conversion projects in the world to date.”
Founded: 1998
Location: Lagos, Nigeria
Century Energy Services Ltd. (CESL) is one of the largest providers of O&M services and quality field development solutions.
CESL is part of the Century Group—a leading energy investment de-risking and infrastructure firm and the first domestic energy infrastructure provider to fully own and manage the following FPSOs:
FPSO Tamara Nanaye
Apart from a power steam boiler and a storage arrangement, including single-bottom center tanks and double-bottom wing tanks, FPSO Tamara Nanaye’s key features include:
FPSO Tamara Tokoni
Apart from gas-handling and gas-processing capabilities, FPSO Tamara Tokoni’s key features include:
Since 2002, CESL has been operational in Nigeria and the West African sub-region.
The Century Group’s operational portfolio includes:
The Century Group provides the following services:
Over the years, the Century Group has remained at the frontline of the evolving energy mix and supply while developing its capacity and risk appetite to enhance its industry experience.
Founded: 2009
Location: Selangor, Malaysia
MTC Engineering (MTCE) was founded to provide FPSO leasing, field production operation, and turnkey development services for mature and marginal fields, such as developing and co-managing customers’ assets for late-life mature fields.
MTCE is committed to delivering fully integrated business solutions to its clients.
MTC Group
MTC Engineering is part of the MTC Group—an engineering and strategic asset development entity with six affiliate companies across sectors and specializing in cost-effective, fast-track, and fit-for-purpose solutions for any scope of work regardless of complexity or size.
As an experienced offshore engineering entity, the MTC Group provides a diverse range of solutions and services, including:
According to the MTC Group, it has delivered “two of its own FPSOs across a span of 6 fields in total.”
Humming Bird Offshore Solutions®
MTC’s “Humming Bird Offshore Solutions®” is a one-stop package—a fast-track offshore solution suitable for FPSO multi-redeployment and tailored to the client’s economic model and asset monetization plan, particularly for the following:
The Humming Bird Offshore Solutions® is provided on the “bareboat charter rate or time charter with a minimal CAPEX for the client.” The tanker size and the topside processing capacity can be designed according to the targeted production and offtake schedule.
In addition, onboard topside facilities allow for the floater to be tied up to a minimal WHP (Well Head Platform), which not only offers a low construction cost but also ensures minimum capital investment by facilitating rapid construction and installation time.
Are you looking for a platform that gives you reliable, high-quality, and timely project insights into Global FPSO & FSO projects?
Get information about upcoming and ongoing FPSO & FSO projects and tenders with Blackridge Research & Consulting – FPSO & FSO Projects Database.
The Global Project Tracking (GPT) platform by Blackridge Research is designed to provide you with the most recent Global FPSO & FSO Projects and Tenders better and faster across various stages of development:
The user-friendly interface helps you obtain early-stage awareness of projects and find the right business opportunity quickly.
With its user-friendly interface, this platform empowers you to gain early-stage awareness of projects and swiftly identify the right business opportunities.
Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start date, commissioning dates, and key contact information of project owners and stakeholders.
The database is a vital resource for a wide range of entities, including Oil and Gas Exploration and Production Companies, Engineering, Procurement, and Construction (EPC) Contractors, Shipbuilders and Conversion Yards, Subsea and Offshore Service Providers, Technology and Equipment Suppliers, Logistics and Marine Services Providers, Finance and Investment Firms, Regulatory Bodies and Government Authorities, Local Contractors and Service Providers, Insurance and Risk Management Firms.
Book a Free demo to learn more about the Global FPSO & FSO Projects and Tenders database and how we can help you achieve your goals.
If you are looking for a detailed global FPSO market analysis, check out Blackridge Research & Consulting’s Global Floating Production Storage and Offloading (FPSO) Market report.
The report provides deep insights into the current global and regional market demand scenario and various factors affecting the FPSO market growth.
The regional market analysis covers the FPSO market across regions, including Asia-Pacific, Africa, Europe, the Middle East, and North America.
The FPSO market segmentation and forecast are based on the following:
FPSO Construction Type
Water Depth
FPSO Hull Type
Propulsion
In addition, the report assesses the FPSO market size, competitive landscape, market opportunities, and threats.
You can buy the report directly or email us at sales@blackridgeresearch.com to purchase specific sections of the report.
Contact us if you want to learn more about the introductory offer or instant savings on your purchases.
You can also reach out to us for custom research services and free report customization.
Furthermore, all report purchases come with up to 60 minutes of exclusive analyst access and post-purchase analyst support for up to a year.
In recent years, the following have been the major demand drivers of the FPSO market:
An FPSO contract between the client and the owner typically includes the following:
Similar to an oil FPSO, an LNG FPSO produces and stores LNG prior to transferring LNG products through offloading facilities to LNG carriers. In addition, an LNG FPSO facilitates end-use applications of offshore-associated gas resources and marginal gas fields.
FPSO companies provide a wide range of FPSO and FSO services even in increasingly remote areas at low cost and with fast rollout, flexible installations, as well as reduced investment and underwater infrastructure.
*FPSO – Floating Production Storage and Offloading
*FSO – Floating Storage and Offloading
*SPM – Single Point Mooring
*TLWP – Tension Leg Wellhead Platform
*MOPU – Mobile Offshore Production Unit
