Solid growth posted by MOPU fleet - mobile offshore production units - Brief Article - Statistical Data Included

World Oil, Oct, 2000

The recovery of oil prices to higher, sustained levels over the last 18 months has had a significantly positive effect on the world's fleet of mobile offshore production units (MOPUs). Even when prices were low, the MOPU sector continued to excel, growing 4% between third-quarter 1998 and third-quarter 1999. That performance can be traced to the units' superior economics and continued technical progress in their design and operation. Once higher oil prices returned, the MOPU sector accelerated during the last 12 months, growing more than twice as fast as in the previous year.

Over the last year, the global MOPU fleet gained a net of 15 units, rising 11.7% to 143. This compares to the October 1999 total of 128. The total reflects vessels that are operating; available; under construction/conversion; or under design as part of an operator's commitment to a field development. Within the total are 78 (up 11) Floating Production, Storage and Offloading (FPSO) units; 39 (no change) semisubmersibles; 21 (up three) jackups and five (up one) barges. The 2000 and 1999 figures have been adjusted to reflect reclassification of one FPSO as a barge, deletion of one FPSO that never finished construction and deletion of two FPSO listings that were duplicative, due to owners supplying conflicting information. For consistency, World Oil's MOPU listings do not include vessels that serve only as storage/offloading units and do not directly perform production operations.

Country fleets. Adding together all unit types, the nation that has the greatest number of active MOPUs remains Brazil, with 30 vessels (up one from a year earlier). The Brazilian fleet includes the world's largest grouping of semisubmersible MOPUs, 19, plus 10 FPSOs and one jackup. Remaining in second place is the United Kingdom, with 18 MOPUs (also unchanged from a year earlier). The British fleet includes 14 FPSOs, three semis and one jackup. Norway is still in third place, and the country's total is also unchanged at 14 units. Within that total are five FPSOs, eight semis and one jackup. However, China has become a close fourth, as its fleet grew 33%, to 12 vessels.

Other nations with significant MOPU fleets are Nigeria (nine), Australia (eight), VietNam (five), Indonesia (four) and Angola (four). At press time, 12 vessels were not assigned to specific fields and/or awaiting contracts, up two from a year ago. These included inactive available units and MOPUs undergoing fabrication/conversion. Worldwide, MOPUs now operate or are set to enter service in 27 nations.

Ownership. According to the information available, 13 companies own/operate at least one MOPU offshore Brazil, the latest being Devon Energy. The owner with the most MOPUs, Braspetro Oil Services, still owns nine vessels (five FPSOs and four semis) offshore Brazil. In second place, Catleia continues to own eight Brazilian MOPUs (all semis).

Overtaking SBM and Statoil for third place at six units is Norsk Hydro. The firm benefited from its acquisition of Saga Petroleum, gaining two units (both semis). Norsk Hydro now has six semis in all. Meanwhile, SBM (all FPSOs), Statoil (two FPSOs, two semis and one jackup) and MODEC (four FPSOs and one jackup) all have four units.

Additions. Listings for 15 vessels--11 FPSOs, three jackups and one barge-have been added worldwide. Five of these are already operating, including Devon Energy's Espadarte FPSO and Cliffs 201 jackup offshore Brazil (Carauna field); Trenergy FPSO's Perentis FPSO offshore Malaysia (Petronas Caragali's Masa field); M. P. Zarat's Didon FPSO offshore Tunisia (Didon field); and Expro International Group's Agbani barge, offshore Nigeria (Abana field). Of the remaining 10 units, five newbuild FPSOs are under construction or design, three tankers are under conversion to FPSOs, one jackup is being converted, and another is a newbuild. Shell has contracted for two FPSO newbuilds, for duty offshore Nigeria (Bonga and EA fields). China's CNOOC also has two FPSO newbuilds under construction (Qinhuangdao and Wenchang fields). The jackups include Oceaneering's conversion of its Marine 7 unit for duty at Apache's Legendre field, offshore Australia, and Conoco's MogPU (mobile offshore gas production unit) newbuild, under cons truction as part of the West Natuna gas development.

Classification guidelines. In these listings, owners and their MOPUs are listed alphabetically. Individual units are grouped by class under photographs or designers' drawings, when available. Oil companies that operate fields utilizing MOPUs often are not the vessels' owners, so these firms are identified on separate lines within the data sets. Readers should note that descriptions of new units built specifically for MOPU purposes include the names of original design and construction firms. Listings for converted tankers and drilling units, however, provide the names of design and construction firms responsible for these units' conversion.

All efforts have been made to ensure that these MOPU listings are correct, within the information provided by owners. However, due to rapid, frequent changes in the market, as well as some firms' inability to provide comprehensive data, World Oil cannot guarantee 100% accuracy. Our editorial staff welcomes any corrections, additions and/or deletions that readers are able to provide. WO