West Africa Floating Production Storage and Offloading (FPSO) Market Report - Market Analysis, CapEx, Share, Growth, Outlook - Industry Trends and Forecast to 2028

The surging oil prices, combined efforts of governments to provide incentives for upstream investment opportunities, and increasing deep water oil and gas exploration and production activities in the West African region are driving the West Africa FPSO market growth.

The West African region is home to a number of major oil and gas fields, and there has been a significant increase in offshore operations in recent years. FPSOs are well-suited for use in offshore environments, and their flexibility in being able to move from one field to another makes them an attractive option for oil and gas companies operating in the region.

Many of the offshore fields in West Africa are located in deep waters, and FPSOs are well-suited for operating in these environments. They are capable of operating in water depths of up to 3,000 meters (9,843 feet) and can handle the harsh weather conditions that are common in the region.

The West African FPSO market is expected to continue to grow in the coming years, as the region's offshore oil production increases and new discoveries are made.

However, the high costs of construction and long waiting periods, and environmental concerns regarding the potential impact of FPSOs on marine ecosystems are some of the factors that could potentially act as restraints on the growth of the FPSO market in West Africa.

Recent Key Developments

• In Jan 2023, Floater specialist BW Offshore has agreed a short-term charter extension with Eni’s subsidiary Nigerian Agip Exploration for the floating production storage and offloading (FPSO) unit Abo, operating offshore Nigeria.
• In Sept 2022, Saipem spa received new contracts in côte divoire (Ivory Coast) for over 1 billion euros. One of the contracts includes 10 years of vessel operations and maintenance in addition to engineering, procurement, construction, and commissioning work for the renovation of the Firenze FPSO vessel.
• Yinson, through its subsidiary Yinson Acacia Ltd, has entered into an exclusivity agreement with bp Exploration Limited, as the operator of the Block 31 Contractor Group for the reservation of FPSO Nganhurra, a floating, production storage and offloading vessel for use in bp’s proposed 10 well subsea Palas, Astrea and Juno crude Oil Fields based in Block 31, Angola.

The new report from Blackridge Research on the West Africa Floating Production Storage offloading FPSO Market comprehensively analyses the FPSO Market and provides deep insight into the current and future state of the industry.

The study examines the drivers, restraints, and regional trends influencing West Africa 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 West Africa FPSO Market, important commercial developments, trends, regions, and segments poised for the fastest growth, competitive landscape, and market share of key players.

Further, the report will also provide West Africa FPSO Market CapEx, demand forecast, and growth rates.

What Do We Cover in the Report?

West Africa 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.

West Africa FPSO Market Analysis

This report discusses the overview of the market, the latest news updates, upcoming FPSO projects, important commercial developments and structural trends, and government policies and regulations.

This section provides an assessment of COVID-19 impact on West Africa floating production storage and offloading market demand.

West Africa FPSO Market CAPEX and Demand Forecast

The report provides West Africa FPSO Market CAPEX and demand forecast until 2028, including year-on-year (YoY) growth rates and CAGR.

West Africa FPSO Industry Analysis

The report examines the critical elements of the West Africa FPSO industry supply chain, its structure, and the participants

Using Porter's five forces framework, the report covers the assessment of the West Africa FPSO industry's state of competition and profitability.

West Africa FPSO Market Segmentation & Forecast

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

Further, market size (CapEx) 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 "bespoke" market segmentation to better align the research report with your requirements.

Regional Market Analysis

The report covers detailed profiles of major countries across West Africa. Each country's analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook. 

Following are the notable countries covered under the West Africa region.

Nigeria, Angola, Algeria, Equatorial Guinea, and other countries in the region

Key Company Profiles

This report presents detailed profiles of Key companies in the West Africa FPSO industry. Some of the major companies covered are Bumi Armada Berhad, BW Offshore Limited, SBM Offshore NV, etc. Generally, 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 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

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 West Africa 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 the FPSO market of various regions (covers key countries in each region):

• South America FPSO Market
• North America FPSO Market
• Asia Pacific FPSO Market
• Middle East FPSO Market
• Europe FPSO Market
• Africa FPSO Market