1 June 2003
Floating production on the up
CAPITAL EXPENDITURE (capex) on floating production systems will increase by over 80% over the next five years, reaching almost $32bn. A new report from the UK's Douglas-Westwood* claims 116 floaters will be installed worldwide during the period. Africa is expected to see the most activity, with 34 installations and investment of almost $12bn by 2007. Asia is second to Africa in terms of the number of vessels forecast for the period. However, the capex ($5.5bn) expected for Asian projects is lower than that forecast for North America ($7.4bn) and not far ahead of Latin America ($4.4bn). Of the 116 floating production systems forecast by 2007, floating production, storage and offloading (FPSO)
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