South America has the highest number of planned and announced FPSO additions globally between 2019 and 2025, according to GlobalData.

South America has the highest number of planned and announced floating production storage and offloading (FPSO) additions globally between 2019 and 2025, according to GlobalData.

The region has 27 planned and announced projects, with Africa, Asia and Europe holding 15, eight and seven planned and announced additions, respectively, the data and analytics company revealed.

GlobalData highlighted that 67 planned and announced FPSOs are expected to start operations by 2025. Of these, 25 are said to be planned projects, while the remaining 42 are said to be early stage announced FPSOs that are undergoing conceptual studies and are expected to be approved for development.

Fourteen of the 27 projects in South America are said to be planned and 13 are said to be announced FPSOs. GlobalData noted that Brazil leads the region with 21 planned and announced projects, followed by Guyana and the Falkland Islands with three each.

Earlier this year, Rystad Energy revealed that it expected 33 FPSOs to be sanctioned from 2019 to 2021 “as oil and gas activity picks up in the offshore sector”.

In November last year, Rystad Energy announced that the global floating production market had stirred back to life after enduring a couple of years in virtual hibernation during the downturn.

GlobalData creates trusted intelligence on the world’s largest industries, according to its website. The company was formed in 2016, following the consolidation of several data and analytics providers.

Rystad Energy describes itself as an independent energy research and business intelligence company. It is headquartered in Oslo, Norway, and has a presence in Houston, Singapore, London, New York, Sydney, Moscow, Stavanger, Rio de Janeiro, Tokyo, Dubai and Bangalore.

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