More newbuilds are scheduled than ever before with standardized designs being introduced to lower CAPEX while maintaining safety levels. FPSOs in operation or available for deployment has grown 26% over the past 10 years - from 159 units at end-2011 to 200 units at end-2020. According to World Energy Reports database, 220 floating production storage and offloading vessels (FPSOs) are now in operation, on order, or available, accounting for 68% of the total oil/gas production floater inventory. Recent analysis from Westwood, the specialist energy market research and consultancy firm, has revealed a number of FPSO leases are set to expire in 2022 with the potential of 30 units becoming available by the end of 2022.
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