Analysts predict surge of idle FPSOs as market overflows

Analysts predict surge of idle FPSOs as market overflows

More than 20 floating production storage and offloading (FPSO) vessels are currently awaiting redeployment across the globe.

Data from Westwood Global Energy Group has laid bare how “saturated and complicated” it is to relocate units after their initial work scope has wrapped up.

And the market could soon become even more flooded, with 56 planned and announced FPSOs expected to start operations over the next five years.