Brazil Floating Production Storage and Offloading (FPSO) Market Report - Market Capital Expenditure, Analysis, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Brazil Floating Production Storage and Offloading (FPSO) Market Report - Market Capital Expenditure, Analysis, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Market Research Reports | Q1 2024 | Report ID: BR05019

About the Report

FPSO Scenario in Brazil

Brazil has been the undisputed leader in the market for floating production, storage, and offloading vessels (FPSOs) for several decades, and it is expected that it will continue to hold a majority share in global upcoming FPSO deployments. This is because oil companies operating in Brazil continue to choose FPSOs to develop their hydrocarbon resources.

 

Brazil possesses the largest recoverable ultra-deep oil reserves in the world, and the nation's market for crude oil and natural gas has, for many years, provided for the majority of investments in the Brazilian economy. The government encourages more investments in the sector to further strengthen it.

 

In order to support the growing oil and gas sector, the Brazilian government introduced new local content regulations in 2018 to fast-track FPSO deployments in Brazil and boost crude oil production in the pre-salt offshore region.

 

The International Energy Agency (IEA) stresses the significance of Brazil by stating that by 2040, the country will be responsible for producing approximately 5.2 million barrels of oil per day, which is equivalent to approximately half of the world's offshore oil output.

 

The majority of the reserves being in the deep water and ultradeep waters makes FPSOs the most suitable and economical solutions on the Brazilian coast. 

 

Brazil received seven of the FPSO contracts awarded in 2021. In 2022, the Latin American country continued leading global FPSO awards with three more FPSO additions.

 

Brazilian projects are likely to be the greatest in terms of production capability. For example, the FPSO unit P-80 will advance to the tenth position in the Buzios region. It will have a processing capability for gas and oil of around 12 MMcm/d and 225,000 b/d, respectively. The FPSO Almirante Tamandare, which was granted in early 2021, was also of this size.

 

Petroleo Brasileiro SA (Petrobras), already has dozens of floating production storage and offloading vessels (FPSOs) dispersed across the southeast coast. Many more are scheduled to be installed within the next few years. However, not all of the future demand will come from Petrobras.

 

For instance, in Dec 2022, Petrobras launched a tender to contract two new floating production, storage and offloading vessels to serve the Sepia and Atapu pre-salt fields in the Santos basin.

 

Petrobras invited companies to submit commercial bids on 20 July 2022 and offered EPC contracts for Sepia-2 and Atapu-2, internally labelled as the P-85 and P-45 FPSOs, respectively.

 

The rising domestic and international energy demand resulting in increased offshore gas and oil production and exploration activities off the Brazilian coast, and governmental support to strengthen the country’s oil and gas sector are the major drivers of the Brazil FPSO market. 

 

Recent Key Developments

  • In Dec 2022, Petrobras announced the initiation of a tender for the supply of two FPSOs for the shared reservoirs of Atapu and Sépia. The company anticipates receiving proposals in the month of July 2023, and production is scheduled to begin in the year 2028.
  • In November 2022, the FPSO Brazil Congress, which was held in Rio de Janeiro, came to a successful conclusion. Key participants in the FPSO business were able to connect at the event and share cutting-edge technology that would influence how FPSO projects are developed in the future.
  • Petrobras postponed the submission of bids in a tender for the charter
    of the FPSO vessel meant to revitalise operations at the Albacora field in Brazil's Campos basin by five months to July 2023.
  • Shell Brasil Petróleo Ltda and its partners have extended the contract period with BW Offshore and Saipem for the supply of an FPSO for the Gato do Mato oil and gas field offshore Brazil.
  • In Aug 2022, Singapore-based Keppel Shipyard was awarded a contract for USD 2.9 billion by Petrobras of Brazil to construct the floating production storage and offloading (FPSO) vessel P-80. This vessel will be used in the Bzios field in the Santos basin of Brazil.
  • Petrobras granted Yinson Holdings Bhd two letters of intent (LOI) for the supply of the Integrado Parque das Baleias FPSO as well as for maintenance and repair work under a lease-and-operate arrangement lasting 22 years and six months starting on the day of final acceptance. The FPSO is slated to be installed at the Jubarte field in the North Campos basin and to begin production in the latter half of 2024.
  • Brazilian oil company Enauta brought online one of the wells at the Atlanta oil field following a recent interruption. The FPSO Petrojarl I has been used by Enauta to extract oil from the field as an early production system, and the company has been working to station another FPSO there for full-field development. In February, the company agreed to this in a contract with Malaysia's leading FPSO expert, Yinson.

 

The new report from Blackridge Research on Brazil Floating Production Storage and Offloading (FPSO) Market comprehensively analyzes the Floating Production Storage and Offloading (FPSO) Market and provides deep insight into the current and future state of the FPSO industry in the region.

 

The study examines the drivers, restraints, and regional trends influencing Brazil Floating Production Storage and Offloading (FPSO) Market demand and growth.

 

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Floating Production Storage and Offloading (FPSO) Market, important commercial developments, trends, countries, and segments poised for fastest growth, competitive landscape.


Further, the report will also provide Brazil Floating Production Storage and Offloading (FPSO) Market Capex size, demand forecast, and growth rates.

 

What we cover in the report?

Brazil FPSO Market Drivers & Restraints

The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium, and long term will be covered using Harvey balls for visual communication of qualitative information, and functions as a guide for you to analyze the degree of impact.

 

Brazil FPSO Market Analysis

This report discusses an overview of the market, the latest FPSO project updates, important commercial developments and structural trends, and government policies and regulations in the region.

This section provides an assessment of COVID-19 impact on Floating Production Storage and Offloading (FPSO) Market demand in the region.

 

Brazil FPSO Market Capex and Demand Forecast

The report provides Brazil Floating Production Storage and Offloading Market capital expenditure and demand forecast until 2028, including year-on-year (YoY) growth rates and CAGR.

 

Brazil FPSO Industry Analysis

The report examines the critical elements of Floating Production Storage and Offloading vessel industry supply chain, its structure, and the participants.

Using Porter's five forces framework, the report covers the assessment of the Floating Production Storage and Offloading (FPSO) industry's state of competition and profitability.

 

Brazil FPSO Market Segmentation & Forecast

The report dissects Brazil Floating Production Storage and Offloading (FPSO) Market into various segments based on construction type (new build, converted hull), on water depth (shallow water, deep water, ultra deep water), and hull type (single hull, double hull).

 

A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.



Further, market capex (size) and demand forecasts will be presented along with various drivers and barriers for individual market segments.



Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a "bespoke" market segmentation to better align the research report with your requirements.

 

Key Company Profiles

This report presents detailed profiles of Key FPSO contractors and operators in the Floating Production Storage and Offloading (FPSO) industry. The report covers all the major players in the FPSO business for example SBM Offshore NV, BW Offshore, etc. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments.

 

Competitive Landscape

The report provides a comprehensive list of notable companies in the regional market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

 

Executive Summary

The executive summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.


The report begins with an executive summary chapter and ends with conclusions and recommendations.

 

Get a free sample copy of the Brazil Floating Production Storage and Offloading (FPSO) Market report by clicking the "Download a Free Sample Now!" button at the top of the page.

 

Also, take a look at our Global FPSO industry outlook report based on our extensive global FPSO market analysis.

 

Check the detailed analysis of FPSO market of various regions (covers key countries in each region):

  Table of Contents

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

  • 3.1 Introduction
  • 3.2 Market Dynamics
    • 3.2.1. Drivers
    • 3.2.2 Restraints
  • 3.3 Market Trends & Developments
  • 3.4 Market Opportunities
  • 3.5 Market Capex and Demand Forecast

4. Industry Analysis

  • 4.1 Supply Chain Analysis
  • 4.2 Porter's Five Forces Analysis

5. Market Segmentation & Forecast

  • 5.1 By Construction Type
    • 5.1.1 New Build
    • 5.1.2 Converted Hull
  • 5.2 By Application
    • 5.2.1 Shallow
    • 5.2.2 Deep
    • 5.2.3 Ultra Deep
  • 5.3 By Hull Type
    • 5.3.1 Single Hull
    • 5.3.2 Double Hull

6. Key Company Profiles

  • 6.1 Operators
    • 6.1.1 Petróleo Brasileiro S.A. (Petrobras)
    • 6.1.2 China National Offshore Oil Corporation (CNOOC)
    • 6.1.3 TotalEnergies SE
    • 6.1.4 ExxonMobil Corporation
    • 6.1.5 Equinor ASA
    • 6.1.6 Shell plc
  • 6.2 Contractors
    • 6.2.1 MODEC, Inc.
    • 6.2.2 SBM Offshore N.V.
    • 6.2.3 BW Offshore Limited
    • 6.2.4 Bumi Armada Berhad
    • 6.2.5 MISC Bhd
    • 6.2.6 Yinson Holdings Bhd
    • 6.2.7 Altera Infrastructure
    • 6.2.8 Keppel Offshore & Marine

7. Competitive Landscape

  • 7.1 List of Notable Players in the Market
  • 7.2 M&A, JV, and Agreements
  • 7.3 Market Share Analysis
  • 7.4 Strategies of Key Players

8. Conclusions and Recommendations

List of Tables & Figures

Abbreviations

Additional Notes

Disclaimer

  This report helps to:-

  • Gain a deeper understanding of the impact of COVID 19, and oil & gas prices crash on the Brazil FPSO market
  • Equip yourself with rigorous analysis and forward-looking insight into the Brazilian FPSO market.
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development
  • Assess market data and forecasts to understand how the demand evolve over the next 5 years
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players
  • Keep on top of M&A developments, JV’s and other agreements to assess the evolving competitive landscape and enhance your competitive position

  Who need this report?

  • Ship-building Companies, Charterers, and Operators
  • Oil & Gas Companies
  • Equipment Manufacturers and Suppliers
  • Investors and Financing companies
  • EPC Companies
  • Government and Regulatory Organizations

  What's included

Report - Brazil Floating Production Storage and Offloading (FPSO) Market Outlook to 2028.pdf
Market Data - Brazil Floating Production Storage and Offloading (FPSO) Market Outlook to 2028.xls

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