Brazil and Guyana were instrumental in the recovery of the FPSO market Another 10 FPSOs are expected to be awarded over the next 12 months Angola, Australia, China, and Malaysia are also expected to award FPSO contracts this year The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease contracts were awarded in the fourth quarter of 2021, bringing the total for the year to 10 – up from just three in 2020 – a strong rebound for the FPSO market. Demand for FPSO units in Brazil was a significant contributing factor that drove 2021 growth, with seven of last year’s 10 contract awards being Brazilian projects. The South American nation is expected to continue driving global awards in 2022, […]