Floating Production Storage and Offloading (FPSO) is a type of floating vessel used by the offshore oil and gas industry for the production, storage and offloading of crude oil and natural gas. The FPSO converts crude oil into refined products and stores them until they can be offloaded onto shuttle tankers for transport to shore. FPSOs are typically used where oil reserves are located far from shore, and are especially useful in deep water locations.
FPSOs are a popular option for offshore oil and gas production due to their ability to be easily moved, deployed and decommissioned. They are also very cost-effective, as they require minimal infrastructure and can be used in a variety of locations.
FPSOs are used extensively around the world, with over 150 vessels in operation in 2016. The largest FPSO fleet belongs to Brazil, which had over 40 vessels in operation at the end of 2016. Other major users of FPSOs include the United Kingdom, Australia, Norway, Angola and Nigeria.
The global Floating Production Storage and Offloading (FPSO) market was valued at US$ 21140 million in 2022 and is anticipated to reach US$ 29900 million by 2029, witnessing a CAGR of 5.0% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Floating Production Storage and Offloading (FPSO) Market available at: https://www.themarketreports.com/report/global-floating-production-storage-and-offloading-fpso-market-research-report
This report aims to provide a comprehensive presentation of the global market for Floating Production Storage and Offloading (FPSO), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Floating Production Storage and Offloading (FPSO).
The key players are Dalian Shipbuilding Industry Co., Ltd, China Ocean Shipping (Group) Company, CIMC Raffles, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering Co., Ltd., Keppel Corporation Limited, Hyundai Heavy Industries, Sembcorp Marine, China State Shipbuilding Corporation, China Merchants Industry Holdings etc. Top 3 companies occupied about 50% market share.
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