KUALA LUMPUR (Jan 10): The market for floating production, storage and offloading (FPSO) units is likely to continue apace with 10 new awards expected in 2022. In a report last week, the firm said demand for FPSO units in Brazil was a significant contributing factor that drove 2021 growth, with seven of last year’s 10 contract awards being Brazilian projects. It said the South American nation is expected to continue driving global awards in 2022, with an additional three FPSO awards expected. Rystad said not only is Brazil delivering more awards, but the Brazilian projects are expected to be the largest in terms of production capability. Rystad said the FPSO market saw a strong finish to 2021, with two lease-and-operate contracts, two front-end engineering and design contracts, and one contract extension awarded in the fourth quarter.
