FPSO market
Yinson Production is uniquely positioned to benefit from a robust market outlook
1
Global demand for oil to remain high
barrels per day
0
million
in 2035
barrels per day
0
million
in 2022
2
Offshore liquid supply is essential to meet global demand
Offshore deep-water is forecasted to drive production growth by 7.7% CAGR between 2022 and 2030
3
FPSOs are key development solutions for deep-water
Robust demand outlook near term mostly for large FPSOs with CAPEX greater than USD 1 billion
4
Yinson Production is uniquely positioned
- Increasing demand for leased FPSOs compared to owned units
- High market interest for FPSO conversions and redeployments due to shorter delivery schedules and lower capital expenditures relative to new builds
- South America and West Africa are the main growth areas, with 40 out of 63 FPSO contracts projected to be awarded from these regions
Source: Rystad Energy (July 2023), Energy Maritime Assocaites – Floating Production Systems Outlook Report, 2023
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