Global Top 20 FPSO Companies [2023]

Last Updated on 12th September 2023

An FPSO (Floating Production Storage and Offloading unit or vessel) facilitates O&G production, processing, and storage at sea. Compared to traditional offshore oil platforms, FPSOs save time and money and are ideal for transporting hydrocarbons produced from wells, nearby platforms, or subsea equipment without the need for heavy infrastructure and investment.


FPSO vessels are particularly suited for deepwater or remote locations where it is not feasible to lay seabed pipelines. In areas of the world subject to cyclones or icebergs, FPSOs are capable of releasing their mooring/riser turret system and steaming away to safety in an emergency.


Keep reading to learn more about the top players in the global FPSO market.


Table of Contents

Global Top 20 FPSO Companies [2023]

Companies Ranked by Owned FPSOs (FPSO Operators)



TotalEnergies SE

ExxonMobil Corporation

Equinor ASA

Shell plc

Woodside Energy Group Ltd.

Vår Energi ASA


Chevron Corporation

Companies Ranked by Fleet Size (FPSO Contractors)


SBM Offshore N.V.

BW Offshore Limited

Bumi Armada Berhad

Yinson Holdings Berhad

Altera Infrastructure

Bluewater Energy Services

MISC Berhad

Century Energy Services Ltd.

MTC Engineering

Blackridge Research & Consulting – Global Floating Production Storage and Offloading Market Report

Wrapping Up


Global Top 20 FPSO Companies [2023]


Here are the world’s leading FPSO companies (listed by owned FPSOs and fleet size):


Companies Ranked by Owned FPSOs (FPSO Operators)



Founded: 1953

Location: Rio de Janeiro, Brazil


Petróleo Brasileiro S.A. (also known as “Petrobras”) is a globally leading oil, natural gas, and energy company renowned globally for its ultra-deepwater oil exploration technology. As of July 2022, Petrobras’ fleet consisted of 123 owned and chartered vessels. It plays a significant role in FPSO projects in Brazil.


While Petrobras’ main operations cover basins, refineries, terminals, and pipelines, as well as thermal power plants, its areas of expertise comprise the following:

  • Oil and gas exploration and production (major components of Petrobras’ portfolio)
  • Refining
  • Supply of natural gas
  • Generation of electric energy
  • Transportation and trade


Petrobras’ activities focus on Brazil’s deepwater and ultra-deepwater oil reservoirs—accounting for 95% of its total production in 2021.


As most of its oil reserves are in offshore fields, Petrobras undertakes offshore drilling activities to reach ever-greater depths to meet the increasing energy demand.


In Brazil, Petrobras works with over a hundred production platforms, mostly fixed platforms.


Here are the different types of platforms that Petrobras uses for its offshore operations:


Fixed: A drilling and production platform that reaches depths of up to 300 m.


Jack-up: A drilling rig that reaches depths of up to 150 m.


Semi-submersible: A drilling and production platform that reaches depths greater than 2,000 m.


FPSO and FPSO Monocolumn: Production, storage, and offloading platforms that reach depths greater than 2,000 m.


TLWP (Tension Leg Well Platform): A production platform that reaches depths of up to 1,500 m.


Drilling Vessel: A drilling rig that reaches depths greater than 2,000 m.


FPSO Fleet


Petrobras’ FPSO fleet includes:

  • FPSO P-34 (Jubarte field, Campos Basin)
  • FPSO P-50 (Albacora Leste field, Campos Basin)
  • FPSO P-54
  • FPSO P-62
  • FPSO P-63 (operates at the Papa-Terra field in the southern area of the Campos Basin)
  • Cidade de Angra dos Reis
  • FPSO Cidade de São Vicente (Tupi Field (currently Lula), Santos Basin)
  • FPSO Cidade de Paraty (operating in the Tupi Field (currently Lula))
  • FPSO Cidade de Itajaí (“part of the production system at the Baúna and Piracaba fields in the post-salt region of the Santos Basin”)


According to Petrobras, the FPSO P-63 can process “140,000 barrels of oil, a million cubic meters of gas, and inject 340,000 barrels of water per day.”


An FPSO is ideal for production in deep and ultra-deep waters. In an FPSO, the shuttle vessels drain the oil while the gas flows through flexible pipelines.


The FPSO is anchored to the seabed and reaches a water depth of more than 2,000 m (modern anchoring systems can install it at greater depths).


In most cases, the FPSO is converted from an oil tanker. Furthermore, the FPSO’s storage capacity enables it to operate at great distances from the coast where it is not feasible to build pipelines.


FPSO Monocolumn


The Piranema Platform is an FPSO Monocolumn that reaches a water depth of more than 2,000 m (depth at the installation/operation site). It shares similar characteristics with an FPSO, but has a cylindrical hull and smaller movements than those of an FPSO-type vessel.


In addition, the production flow of the FPSO and FPSO Monocolumn involves offloading the oil to tankers, which offload the oil later at the terminals.


With responsible investments in refining, logistics, and gas, Petrobras is committed to efficiently meeting customer needs, increasing operational reliability and safety, and supporting emission reduction.



Founded: 1999

Location: Beijing, China


CNOOC Ltd. (China National Offshore Oil Corporation) is one of the world’s largest independent E&P companies and “China’s largest offshore natural gas and crude oil producer.”


As a globally leading O&G company, CNOOC explores, develops, produces, and sells crude oil and natural gas and has O&G assets worldwide, including:

  • Africa
  • Asia
  • Europe
  • North America
  • Oceania
  • South America


CNOOC’s core operation areas comprise the following:    

  • Bohai
  • The East China Sea (in offshore China)
  • The Eastern South China Sea
  • The Western South China Sea


CNOOC and its subsidiaries lease various FPSOs and offices for its operations. For example, the 2022 Annual Report states that “CNOOC Energy Technology & Services Limited leased FPSO vessels for use in oil production operations.”


According to a news release, the FPSO “Hai Yang Shi You 123” was delivered to CNOOC in Nantong, Jiangsu.


It is the first smart FPSO in China that integrates digital technologies, including AI (Artificial Intelligence), Big Data, cloud computing, edge computing, and IoT (the Internet of Things).


Additionally, the FPSO applies digital twin technology to share data between the onshore and offshore units—allowing for intelligent production and operation management.


Find out FPSO and FSO projects in China.


TotalEnergies SE

Founded: 1924

Location: Courbevoie, France


TotalEnergies SE is an integrated energy and petroleum company and one of the seven supermajor oil companies. As a global multi-energy company, TotalEnergies is active in close to 130 countries and produces and markets the following:

  • Natural gas and green gases
  • Oil and biofuels
  • Renewables and electricity


A company press release reported an important milestone of an agreement related to the future development of the Cameia and Golfinho fields (located on Blocks 20 and 21) in the Kwanza basin. TotalEnergies EP Angola (operator) holds an 80% interest in each block, while Sonangol Pesquisa e Produção S.A. holds 20% as part of the agreement.


ExxonMobil Corporation

Founded: 1999

Location: Irving, Texas, United States


ExxonMobil Corporation (Exxon) is known as one of the largest integrated fuels, lubricants, and chemical companies in the world and “the largest direct descendant of John D. Rockefeller’s Standard Oil.”  


Ranked among the world’s top oil companies, ExxonMobil was formed by the merger between Exxon Corporation and Mobil Corporation.


ExxonMobil’s primary businesses include upstream, product solutions, and low-carbon solutions.


ExxonMobil – A Leading Floating Production Unit Operator


ExxonMobil operates diverse floating production units, including:




  • Bosi
  • Erha
  • Errea Wittu FPSO
  • Fast4Ward Hull #7
  • Gagak Rimang
  • Kaieteur/Canje Blocks
  • Kizomba A FPSO
  • Kizomba B FPSO
  • Liza Destiny
  • Liza Unity
  • Mondo
  • One Guyana FPSO
  • Prosperity FPSO
  • Saxi-Batuque
  • Serpentina
  • Stabroek Block #10
  • Stabroek Block #6 (Whiptail)
  • Stabroek Block #7 (Fangtooth)
  • Stabroek Block #8
  • Stabroek Block #9
  • Usan
  • Yoho
  • Zafiro Producer




  • Hoover/Diana




  • Kizomba A WTLP
  • Kizomba B WTLP


ExxonMobil is supporting a lower-emission future by investing heavily in the development of global energy resources and contributing significantly to the expansion of LNG projects worldwide.


Equinor ASA

Founded: 1972

Location: Stavanger, Norway


Formerly known as “StatoilHydro” and “Statoil,” Equinor ASA is one of the world’s largest O&G suppliers. Equinor has transitioned from a Norwegian O&G company into an international energy company with a global presence in 30+ countries.


Equinor was founded by the Norwegian government to manage the country’s vast O&G resources. Over the years, Equinor has been a major contributor to Norway’s status as a leading O&G exporter through O&G exploration, development, and production.


Equinor’s decades of progress have earned it recognition in various ways, such as:

  • “A world-leading offshore operator”
  • “An international pioneer in renewables and low-carbon solutions”
  • “The largest oil and gas operator in Norway”
  • “The second-largest gas supplier in Europe”
  • “The largest gas producer on the Norwegian Continental Shelf”


According to an industry news source, an Equinor ASA subsidiary (Equinor Brasil Energia Ltd.) has signed an agreement with MODEC, Inc. for an FPSO vessel expected to be delivered in 2027.


While Equinor is the operator at BM-C-33 with 35% interest, Repsol Sinopec Brasil (35%) and Petrobras (30%) are partners.


The two-phase lump sum turnkey contract covers FEED (Front End Engineering Design) and EPCI for the FPSO, which will be permanently moored at a water depth of about 2,900 m.


Compared to conventional VLCC (Very Large Crude Carrier) tankers, the FPSO will feature MODEC’s new build and full double hull design to accommodate larger topsides and larger storage capacity with a longer design service life.


MODEC is reported to provide Equinor with FPSO O&M service for the first year from first oil production, with Equinor subsequently taking over as the operator.


Additionally, it will be a fully electrified FPSO that generates power using a combined cycle system to reduce carbon emissions.


Shell plc

Founded: 1907

Location: London, United Kingdom


Shell plc (Shell) is one of the world’s major O&G companies and known as “the world’s largest LNG trader.” Originally known as “Royal Dutch Shell Plc,” the company changed its name to “Shell plc” in 2022. As a global group of energy and petrochemical companies, Shell operates in 70+ countries.


As an LNG pioneer for more than 50 years, Shell is reported to have started today’s global trade by shipping the first commercial cargo from Algeria’s LNG liquefaction plant to the UK in 1964.


Shell continues to expand LNG availability around the world by improving LNG technology and supporting the development of safe designs for onshore and offshore LNG facilities, ships, and terminals.


As one of the world’s largest LNG shipping operators, Shell manages and operates LNG carriers constituting around 11% of the global LNG shipping fleet.


Apart from LNG supply projects in 10 countries, Shell has major interests in regasification plants and long-term access to capacity in many others in Asia, Europe, North America, and the Middle East.


North Sea Assets


Shell’s O&G operated assets in the North Sea include:


Central and Northern North Sea


  • Gannet (the Gannet Complex comprises a fixed drilling and production platform for Gannet A, B, C, D, F, and G fields)
  • Nelson (the Nelson installation consists of a single, manned drilling and production platform and a subsea satellite tied back to the platform).
  • Pierce (FPSO)
  • Shearwater (an integrated PUQ (Process, Utilities, and Quarters) platform, which is a bridge linked to a WH (Wellhead) platform)
  • Fife NGL Plant
  • St Fergus Gas Terminal


Southern North Sea


  • Bacton gas terminal
  • Clipper (includes the compression platform, production platform, and wellhead platform)
  • Leman Alpha Complex




Pierce is an FPSO located in the licence blocks 23/22a and 23/27a, which is used for extracting, processing, storing, and offloading crude oil from the Pierce North and South fields.


The FPSO extracts crude oil through subsea wells, processes and stores it in cargo tanks prior to offloading via a shuttle tanker. On the other hand, processed gas is exported via a pipeline to the SEGAL (Shell Esso Gas and Associated Liquids) system.


Woodside Energy Group Ltd.

Founded: 1954

Location: Perth, Australia


Formerly known as “Woodside Petroleum Ltd.,” Woodside Energy Group Ltd. (Woodside) is a world-renowned petroleum exploration and production company and “the largest Australian natural gas producer.”


Named after the small Victorian town of Woodside, the Australian energy giant is not only famous as “Australia’s LNG pioneer” but also a leading supplier of condensate, crude oil, LPG (Liquefied Petroleum Gas), and pipeline natural gas.


With 35+ years of operating experience in Australia, Woodside’s expanded global portfolio now comprises quality operating assets in the Gulf of Mexico (U.S.) and Trinidad and Tobago.


Woodside has an excellent track record in integrated shipping, operations, marketing, and trading activities across condensate, crude, LNG, and NGL cargoes.


Apart from LNG trains and offshore gas platforms, Woodside operates FPSO vessels and a network of pipeline and subsea infrastructure in the Australian waters.


Woodside’s international exploration assets are located in various regions, including Africa, Asia-Pacific, Europe, and the Americas.


A company media release reported the completion of the FPSO facility construction for the Sangomar Field Development Phase 1, which will be Senegal’s first offshore oil project encompassing the FPSO, 23 wells, and supporting subsea infrastructure that allows the tie-in of subsequent phases.


Woodside is the operator with 82% participating interest in the project, and PETROSEN holds the remaining 18%.


COSCO, BOMESC, MODEC, and PJOE have played a key role in completing the fabrication and conversion works of the FPSO vessel—a converted VLCC with a capacity to produce 100,000 barrels per day of oil.


Vår Energi ASA

Founded: 2018

Location: Sandnes, Norway


Vår Energi ASA is an industry-leading independent O&G producer and one of Norway’s largest E&P companies.


With 50 years of operations on the Norwegian Continental Shelf (NCS), Vår Energi has a diversified and robust asset portfolio and a strong exploration track record.


Vår Energi’s O&G production comes from 39 different fields in the Barents Sea, the North Sea, and the Norwegian Sea.


The Jotun FPSO re-float and turret installation have been safely completed as per Vår Energi’s second-quarter 2023 results presentation, which also refers to the completion of seven of 15 producing wells.


The Balder Future Project


As one of the largest NCS projects, the Balder Future Project is key to Vår Energi’s future growth and production, with the first oil planned for the third quarter of 2024. The project focuses on the development, life extension, and exploration of established oil extraction areas.


For example, development in the area involves upgrading and life extension of the Jotun production ship (FPSO). The refurbishment and relocation of the Jotun FPSO from the Jotun field to the Balder area will accommodate tie-ins of 14 new production wells and one new water injection well with future expansion capacity.


In addition, the project will extend the Jotun FPSO’s technical lifetime beyond 2045.



Founded: 1971

Location: Fornebu, Norway


Aker BP ASA is a globally recognized O&G exploration and production company and one of Europe’s largest independent listed oil companies.


Aker BP operates six assets, including:

  • Alvheim
  • Ivar Aasen
  • Skarv
  • Edvard Grieg
  • Ula
  • Valhall


Alvheim FPSO


Alvheim is located in the North Sea’s central part (close to the British sector) and has large recoverable O&G resources.


The Alvheim FPSO was discovered in 1998 and production started in 2008.


Aker BP’s aims to produce “one billion barrels through the Alvheim FPSO” and extend the lifetime of the field center—debottlenecking to improve the FPSO capacity is underway to facilitate tie-in of more discoveries in the future.


  • Production 2021 (71,1 mboepd)
  • Production efficiency 2021 (95%)


Skarv FPSO


Skarv is a field in the Norwegian Sea’s northern part and has “one of the world’s largest offshore gas-processing plants.” The Skarv FPSO was discovered in 1998 and production started in 2013.


  • Production 2021 (126,3 mboepd)
  • Production efficiency 2021 (82%)


Aker BP is also a partner in Johan Sverdrup.


Aker BP ASA focuses on operating with the “lowest possible costs and emission per produced barrel.”


An industry news source reported that Aker Solutions—the Norwegian oilfield services provider—secured multiple contracts with Aker BP, with the projects representing “Aker Solutions’ highest-ever quarterly order intake.”


Chevron Corporation

Founded: 1879

Location: San Ramon, California, United States


Chevron Corporation is an integrated O&G company active in more than 180 countries. Formerly known as the “Standard Oil Company of California,” Chevron is the second-largest direct descendant of Standard Oil.


Founded as “Pacific Coast Oil Co.,” the company was bought by the Standard Oil Co. & Trust in 1900. Later, it took on the name “Chevron” in 1984. Chevron runs California’s two largest oil refineries in El Segundo and Richmond and maintains 25,700 service stations worldwide under the brands “CalTex,” “Chevron,” and “Texaco.”


As per an industry news source, Chevron reportedly canceled a USD 1.8 billion FPSO for use at Chevron’s Rosebank O&G field. Designed to survive severe storms, the FPSO would have been one of the UK continental shelf’s deepest-moored vessels—handling “up to 100,000 barrels per day of oil and 80 million cubic feet per day of natural gas.”


Chevron is helping meet the global energy demand through a consistent focus on operational excellence, targeted investments, and major operations in some of the world’s most significant O&G regions.


Other significant players in this segment include BW Energy Ltd., Dana Petroleum plc, Jadestone Energy, and Prio SA (formerly known as “PetroRio SA”).


Companies Ranked by Fleet Size (FPSO Contractors)



Founded: 1968

Location: Chuo-ku, Tokyo, Japan


MODEC, Inc. (MODEC stands for “Mitsui Ocean Development & Engineering Company) is an industry-leading global supplier and operator of offshore floating platforms.


MODEC has evolved from a specialized marine equipment and vessel contractor into a reliable partner for challenging offshore O&G production projects, such as for ultra-deepwater and harsh environments.


Owning and operating its own floating production facilities enables MODEC to provide comprehensive and competitive solutions for O&G companies worldwide.


MODEC aims to optimize its business portfolio while pioneering new business frontiers in seabed mineral resource harvesting and offshore wind power utilization.


EPCI Project Execution


MODEC’s EPCI (Engineering, Procurement, Construction, and Installation) project execution encompasses the following:

  • Project management (including customer relationship management)
  • Design and detailed engineering
  • Procurement
  • Construction and commissioning
  • Offshore installation works


MODEC has over 50 years of experience in providing various floating O&G production systems, including:

  • FPSOs
  • FSOs (Floating Storage and Offloading vessels)
  • MOPUs (Mobile Offshore Production Units)
  • Production semi-submersibles (ideal for producing O&G satellite wells in deep and ultra-deepwater depths)
  • TLPs (Tension Leg Platforms)


According to a company press release, MODEC, Inc., Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL), and Marubeni Corporation agreed to collaborate on the deepwater FPSO charter project for the Tartaruga Verde and Tartaruga Mestiça oil fields off the coast of Brazil.


The FPSO named “FPSO Cidade de Campos dos Goytacazes MV29” will be chartered for 20 years under the charter agreement.


With expertise in the execution of complex, large floating production systems, MODEC continues to support its clients globally with world-class chartering, operations, and asset maintenance services.


SBM Offshore N.V.

Founded: 1969

Location: Amsterdam, Netherlands


Founded as a wholly owned subsidiary of IHC Holland, N.V., SBM (SBM stands for “Single Buoy Moorings”) Offshore N.V. is a global leader in floating production and mooring systems.


With its roots going back to 1862, SBM Offshore has over 100 years of experience in building floating machinery for the offshore energy industry.


SBM Offshore continuously invests in energy-efficient technologies and creates environmentally friendly, sustainable solutions at every level of its operations.


FPSO Turritella: In 2016, SBM Offshore installed the world’s deepest floating production system “FPSO Turritella” in the Gulf of Mexico.


SBM Offshore’s main activity is to design, supply, install, operate, and maintain FPSO vessels.


SBM Offshore’s fleet spans the globe and comprises the following units:


  • 15 FPSOs
  • 1 Semi-submersible Unit


FPSO Fleet


  • Georgetown Shorebase
  • FPSO Liza Destiny
  • FPSO Liza Unity


  • Vitória
  • FPSO Capixaba
  • FPSO Cidade de Anchieta


  • Rio de Janeiro Shorebase
  • FPSO Espirito Santo


  • Santos
  • FPSO Cidade de Paraty
  • FPSO Cidade de Ilhabela
  • FPSO Cidade de Maricá
  • FPSO Cidade de Saquarema


  • Malabo
  • FPSO Serpentina
  • FPSO Aseng


  • Kuala Lumpur Shorebase
  • FPSO Kikeh


  • Luanda
  • FPSO Mondo
  • FPSO Saxi Batuque
  • N’goma FPSO


A company press release stated that “FPSO Sepetiba”—SBM Offshore’s third Fast4Ward® FPSO—sailed away on June 16, 2023, from China’s BOMESC shipyard following successful completion of the topsides integration and onshore commission phases.”


It is reported that SBM Offshore has a contract with Petrobras for the “22.5 years lease and operation of FPSO Sepetiba, with the first oil expected in the second half of 2023.”


SBM Offshore’s state-of-the-art technology and operating experience make it the trusted partner for global energy providers.


BW Offshore Limited

Founded: Oslo, Norway

Location: 1982


BW Offshore Limited is a globally leading FPSO owner and operator with over four decades of experience in operating advanced offshore production systems and executing complex projects, including 10 FSO and 30 FPSO projects.


Using existing FPSOs has been a crucial component of BW Offshore’s business strategy, as FPSO redeployment requires less capital and time than a new build or traditional tanker conversion.


Furthermore, the BW Group (BW)—a leading global maritime company engaged in deepwater O&G production, floating infrastructure, new sustainable technologies, and shipping—is a significant shareholder in BW Offshore.


BW manages a fleet of over 490 vessels, including 200 LNG and LPG ships reported to constitute “the largest gas fleet in the world.”


FPSO Fleet


BW Offshore’s lease model allows for reduced investments and enables clients to lease the production assets from BW Offshore while focusing on their reservoir development and management competencies.


Here are the key technical specifications of BW Offshore’s FPSO fleet:


Name of the FPSO

Contract Duration/ Conversion Year

Oil Processing Capacity

Storage Capacity





44,000 bbl/d

940,000 bbl

Nigeria/Abo (Africa)

BW Adolo


2018-2028 (2038)

40,000 bbl/d

1,350,000 bbl

Gabon/Dussafu (Africa)

BW Catcher


2018-2025 (2043)

60,000 bbl/d

650,000 bbl

UK/Catcher (Europe)

BW Pioneer


2012-2025 (2030)

80,000 bbl/d

600,000 bbl

U.S./Cascade & Chinook (Americas)

FPSO Polvo

2007 (conversion year)

90,000 bbl/d

1,266,000 bbl


Petróleo Nautipa

2002 (conversion year)

20,000 bbl/d

1,075,000 bbl



BW Offshore continues to create tailored offshore energy solutions based on its extensive floating production experience and engineering and operating expertise.


BW Offshore’s clean energy plans also include a strategic investment in floating offshore wind.


Bumi Armada Berhad

Founded: 1995

Location: Federal Territory of Kuala Lumpur, Malaysia


Bumi Armada Berhad (Bumi Armada) is an industry-leading provider of offshore energy infrastructure and services. The Bumi Armada Group consists of diversified subsidiaries and joint venture companies.


Bumi Armada operates in over 10 countries and provides engineering, marine transportation, and maintenance services to the offshore O&G industry.


Bumi Armada’s range of capabilities includes:

  • Field development support
  • Hook-up and commissioning
  • Installation and operations
  • Pipe-laying
  • Production facilities


Bumi Armada’s FPO (Floating Production and Operation) business specializes in engineering, procurement, construction, commissioning, and the operations of floating O&G facilities as per clients’ specific requirements.


Bumi Armada currently operates the following:

  • 3 jointly owned FPSOs
  • 4 wholly owned FPSOs
  • 1 LNG FSU (Liquefied Natural Gas Floating Storage Unit)
  • 1 partially owned FPSO under construction


Here’s the list of Bumi Armada’s FPSOs:


Name of the FPSO




Storage Capacity

Year Built

Year Converted to an FPSO


55,000 bpd

620,000 bbls




60,000 bpd (liquid production


580,000 bbls




26,500 bpd (oil production capacity)

510,000 bbls




80,000 bpd (oil production


1,700,000 bbls




8,008 bpd (HC/Gas Condensate)

570,000 bbls condensate and 1600 M3 molten sulfur (COT (Cargo Oil Tank) Storage)




LNG (HC/Gas Condensate)

123,780.103 m3 (COT Storage)




80,000 bopd (oil production


600,000 bbls



ARMADA CLAIRE (available for redeployment)

30,000 bpd (oil production


800,000 bbd




Over the years, Bumi Armada has earned a positive reputation for its innovative solutions, quality facilities, and project management capabilities.


Yinson Holdings Berhad

Founded: 1983

Location: Kuala Lumpur, Malaysia


Yinson Holdings Berhad is a global energy infrastructure and technology company, running the following business units:


  • Yinson Production (one of the largest independent FPSO leasing companies globally)


  • Yinson Renewables (a global clean energy producer)


  • Yinson GreenTech (a green solutions provider with investments in novel green businesses, R&D, and strategic partnerships)


  • Farosson (an advisory, investment, and asset management group)


  • Regulus Offshore (owns and charters OSVs)


FPSO Fleet


Yinson’s FPSO fleet includes:

  • FPSO PTSC Lam Son (Vietnam)
  • FPSO John Agyekum Kufuor (Ghana)
  • FPSO Helang (Malaysia)
  • FPSO Abigail-Joseph (Nigeria)
  • FPSO Anna Nery (Brazil)
  • FPSO Maria Quitéria (Brazil)
  • FPSO Atlanta (Brazil)
  • FPSO Agogo (Angola)


Zero Emissions FPSO


Yinson’s “Zero Emissions FPSO” concept aims to lower emissions with innovative solutions, such as:

  • Carbon capture, utilization, and storage
  • Closed flaring system
  • Direct air capture
  • Hydrocarbon blanketing


Yinson has an impressive track record of maintaining a fleet uptime of above 99% since 2014, with the FPSO units operating 24 hours a day, 365 days a year in harsh weather conditions.


An industry news source reported that Anna Nery achieved its first oil following a successful 72-hour testing—marking the commencement of the firm charter for 25 years, until 2048.


Anna Nery is the FPSO unit of Yinson Production (YP is Yinson Holdings Berhad’s offshore production business unit) and its project partner, Sumitomo Corporation.


Altera Infrastructure

Founded: 2006

Location: Hamilton, Bermuda


Altera Infrastructure (also known as “Altera”) is a world-renowned energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of Brazil, the East Coast of Canada, and the North Sea.


Altera’s offshore assets include:

  • A unit for maintenance and safety
  • FPSOs
  • FSOs
  • Shuttle tankers
  • TLWP
  • Towing vessels


FPSO Fleet


As a market leader in FPSO solutions, Altera designs, provides, and operates ship-shaped and cylindrical FPSOs to extract challenging hydrocarbons in harsh weather conditions and deep waters for its O&G clients.


According to Altera Infrastructure, its FPSO fleet, highly skilled employees and a 45-year experience in the floating sector make it “the largest and most experienced independent FPSO operator in the North Sea and the world’s fourth-largest leased FPSO operator.”


The following vessels comprise Altera Infrastructure’s FPSO fleet:


Vessel Name

Year Built




Papa Terra offshore oil field, Brazil


FPSO Cidade de Itajai

1995 (Converted to FPSO in 2012)

Baúna field, Brazil

FPSO Pioneiro De Libra

1995 (Converted to FPSO in 2017)

Libra field, Brazil

Petrojarl I


Atlanta field, Brazil

Petrojarl Knarr


Leirvik, Norway

Piranema Spirit


Angra dos Reis, Brazil

Voyageur Spirit


Kishorn, UK


Furthermore, Altera’s extensive experience in providing bespoke duty holder services for existing and new operators enables it to deliver production, cost, and field life efficiencies while maintaining a key focus on environment, health, and safety.


Bluewater Energy Services

Founded: 1978

Location: Hoofddorp, the Netherlands


Founded by floating production industry experts, Bluewater Energy Services (Bluewater) designs, manufactures, supplies, and installs FPSO, FSO, and SPM systems for its clients, including global oil companies, through turnkey supply and lease contracts.


In addition, Bluewater provides operational and logistics management and support for FPSO and FSO systems.


Bluewater Energy Services’ solutions include:

  • Renewable energy solutions
  • Mooring and transfer systems
  • CALM buoy terminals
  • Advanced loading towers
  • FPSO and FLNG mooring
  • FSU and FSO mooring
  • Multiproduct swivel stacks
  • Floating production and storage units


FPSO Operations


Bluewater’s FPSO operations comprise the following:

  • Asset integrity and maintenance of all equipment and systems
  • Crew training and competency
  • Duty holder of the FPSO facility and the subsea pipelines
  • Gas treatment, gas injection, gas lift, gas metering, and gas export
  • Logistics—guard vessels, helicopters, supply vessels, etc.
  • Oil storage, oil metering, offloading, and shuttle tanker management
  • Oil, water and gas separation
  • Safety and environmental management
  • Supply, operations, inspection and maintenance of subsea moorings, flow lines, and riser systems
  • Water treatment


FPSO Fleet


Bluewater owns and operates the following FPSO fleet:


Aoka Mizu: Aoka Mizu is a self-propelled, turret-moored, disconnectable O&G production facility designed for a harsh environment and under contract in the Atlantic region.


Haewene Brim: Haewene Brim is a self-propelled, turret-moored, disconnectable production facility that has been converted from O&G injection to O&G export. It is permanently moored in the Central North Sea.


Bleo Holm: Bleo Holm is a permanently turret-moored O&G production facility operated under a bareboat charter located in the Central North Sea.


Glas Dowr (available for redeployment): Glas Dowr is a permanently turret-moored O&G production facility.


Munin (available for redeployment): Munin is a disconnectable turret-moored O&G production facility with proven capability as a full DP FPSO.


The FPSOs are designed to produce oil and gas from offshore O&G fields cost-effectively and safely—the produced oil and gas are exported through shuttle tankers and/or subsea pipelines to the shore.


MISC Berhad

Founded: 1968

Location: Federal Territory of Kuala Lumpur, Malaysia


Incorporated as “Malaysia International Shipping Corporation Berhad,” MISC Berhad is Malaysia’s leading international shipping line and a premier provider of energy-related maritime solutions.


As one of the world’s leading floating offshore solution providers (FPSO/FSO owner) with 14 assets, MISC’s reach spans Brazil, Malaysia, Thailand, Vietnam, and other strategic locations to meet the global requirements of the O&G industry.


According to MISC, it owns the “first and largest semi-submersible floating production system in Asia.”


MISC is also credited with excellent asset performance (with uptime of over 99%).




According to an industry news source, MISC unveiled the MMEGA (Mega-Module Engineering & Green Architecture)—believed to be “one of the world’s largest and greenest FPSOs.”


The NBFPSO (Newbuild Floating Production Storage and Offloading) vessel is a spread-moored FPSO with a double-sided, single-bottom hull and a design life of 35 years.


Designed for deepwater and ultra-deepwater fields, “the world’s first future-ready NBFPSO” features the latest mega-module topsides technology that offers various benefits, such as:

  • Optimize capital expenditure
  • Optimize system integration
  • Reduce the EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) schedule


Furthermore, the MMEGA is reported to store “two million barrels of oil and offload one million barrels of oil in 24 hours.”


MISC is confident that the MMEGA will reduce project costs and timelines and generate maximum economic value for its customers.


PetroFirst is another major player in this segment—a floating energy infrastructure owner and a provider of O&G production and processing services.


In the FPSO history, Keppel Shipyard, which leads the Marine Division of Keppel Offshore & Marine Ltd. (now part of the Seatrium Group), is renowned for being “the first shipyard in Asia to convert a tanker to an FPSO in 1981.”


Keppel Shipyard states that it has a successful track record of completing “the most number of FPSO, FSO, FSRU, and FLNG conversion projects in the world to date.”


Century Energy Services Ltd.

Founded: 1998

Location: Lagos, Nigeria


Century Energy Services Ltd. (CESL) is one of the largest providers of O&M services and quality field development solutions.


CESL is part of the Century Group—a leading energy investment de-risking and infrastructure firm and the first domestic energy infrastructure provider to fully own and manage the following FPSOs:


FPSO Tamara Nanaye


Apart from a power steam boiler and a storage arrangement, including single-bottom center tanks and double-bottom wing tanks, FPSO Tamara Nanaye’s key features include:

  • Crude oil storage capacity (769,608 barrels (total – main tanks plus slop tanks)
  • Production capability (40,000 bopd)
  • Produced water specifications (9,000 bwpd)


FPSO Tamara Tokoni


Apart from gas-handling and gas-processing capabilities, FPSO Tamara Tokoni’s key features include:

  • Cargo offloading pump (3x3500 m3/hr)
  • Fresh water generation (1,300 T)
  • Crude oil storage capacity (1,106,000 barrels (at 98% capacity)
  • Production capability (40,000 bopd)


Since 2002, CESL has been operational in Nigeria and the West African sub-region.


The Century Group’s operational portfolio includes:

  • 3 FPSOs
  • 4 flow stations
  • 1 MOPU
  • 1 FSO


The Century Group provides the following services:

  • General energy asset development
  • Infrastructure management for upstream production assets and midstream production facilities (such as flow stations, pipelines, processing plants, storage facilities, terminals, and wellheads)
  • Infrastructure supply and support
  • Re-entry support services for moribund assets
  • Well intervention solutions


Over the years, the Century Group has remained at the frontline of the evolving energy mix and supply while developing its capacity and risk appetite to enhance its industry experience.


MTC Engineering

Founded: 2009

Location: Selangor, Malaysia


MTC Engineering (MTCE) was founded to provide FPSO leasing, field production operation, and turnkey development services for mature and marginal fields, such as developing and co-managing customers’ assets for late-life mature fields.


MTCE is committed to delivering fully integrated business solutions to its clients.


MTC Group


MTC Engineering is part of the MTC Group—an engineering and strategic asset development entity with six affiliate companies across sectors and specializing in cost-effective, fast-track, and fit-for-purpose solutions for any scope of work regardless of complexity or size.


As an experienced offshore engineering entity, the MTC Group provides a diverse range of solutions and services, including:

  • FPSO and Flowline Development and Lease
  • Modification of Facilities
  • Operations & Maintenance (O&M)
  • Project Management
  • Relocatable Solution for Wellhead Platforms
  • Transportation & Installation (T&I)
  • EPCIC Services


According to the MTC Group, it has delivered “two of its own FPSOs across a span of 6 fields in total.”


Humming Bird Offshore Solutions®


MTC’s “Humming Bird Offshore Solutions®” is a one-stop package—a fast-track offshore solution suitable for FPSO multi-redeployment and tailored to the client’s economic model and asset monetization plan, particularly for the following:

  • Mature/late-life fields
  • Marginal O&G fields
  • Stranded oil recovery
  • Early production system


The Humming Bird Offshore Solutions® is provided on the “bareboat charter rate or time charter with a minimal CAPEX for the client.” The tanker size and the topside processing capacity can be designed according to the targeted production and offtake schedule.


In addition, onboard topside facilities allow for the floater to be tied up to a minimal WHP (Well Head Platform), which not only offers a low construction cost but also ensures minimum capital investment by facilitating rapid construction and installation time.


Find Ongoing and Upcoming FPSO & FSO Projects Around the World with Ease.

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The Global Project Tracking (GPT) platform by Blackridge Research is designed to provide you with the most recent Global FPSO & FSO Projects and Tenders better and faster across various stages of development:

  • Upcoming projects
  • Tender Notices
  • Contract award announcements
  • Projects in progress or under construction
  • Successfully completed projects.


The user-friendly interface helps you obtain early-stage awareness of projects and find the right business opportunity quickly.


With its user-friendly interface, this platform empowers you to gain early-stage awareness of projects and swiftly identify the right business opportunities.


Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start date, commissioning dates, and key contact information of project owners and stakeholders.


The database is a vital resource for a wide range of entities, including Oil and Gas Exploration and Production Companies, Engineering, Procurement, and Construction (EPC) Contractors, Shipbuilders and Conversion Yards, Subsea and Offshore Service Providers, Technology and Equipment Suppliers, Logistics and Marine Services Providers, Finance and Investment Firms, Regulatory Bodies and Government Authorities, Local Contractors and Service Providers, Insurance and Risk Management Firms.


Book a Free demo to learn more about the Global FPSO & FSO Projects and Tenders database and how we can help you achieve your goals.


Blackridge Research & Consulting – Global Floating Production Storage and Offloading Market Report


If you are looking for a detailed global FPSO market analysis, check out Blackridge Research & Consulting’s Global Floating Production Storage and Offloading (FPSO) Market report.


The report provides deep insights into the current global and regional market demand scenario and various factors affecting the FPSO market growth.


The regional market analysis covers the FPSO market across regions, including Asia-Pacific, Africa, Europe, the Middle East, and North America.


The FPSO market segmentation and forecast are based on the following:


FPSO Construction Type


  • New Build
  • Converted Hull


Water Depth


  • Shallow Water
  • Deep Water
  • Ultra-Deep Water


FPSO Hull Type


  • Single Hull
  • Double Hull




  • Self-Propelled
  • Towed


In addition, the report assesses the FPSO market size, competitive landscape, market opportunities, and threats.


You can buy the report directly or email us at sales@blackridgeresearch.com to purchase specific sections of the report.


Contact us if you want to learn more about the introductory offer or instant savings on your purchases.


You can also reach out to us for custom research services and free report customization.


Furthermore, all report purchases come with up to 60 minutes of exclusive analyst access and post-purchase analyst support for up to a year.


Wrapping Up


In recent years, the following have been the major demand drivers of the FPSO market:

  • A rise in crude oil prices
  • Continued capital spending on deepwater exploration
  • Depleting onshore O&G reserves
  • New deepwater asset discovery
  • Short development schedules


An FPSO contract between the client and the owner typically includes the following:

  • Performance criteria and technical requirements
  • The hire structure
  • The scope of the owner’s rights and obligations toward the FPSO client


Similar to an oil FPSO, an LNG FPSO produces and stores LNG prior to transferring LNG products through offloading facilities to LNG carriers. In addition, an LNG FPSO facilitates end-use applications of offshore-associated gas resources and marginal gas fields.


FPSO companies provide a wide range of FPSO and FSO services even in increasingly remote areas at low cost and with fast rollout, flexible installations, as well as reduced investment and underwater infrastructure.


*FPSO – Floating Production Storage and Offloading


*FSO – Floating Storage and Offloading


*SPM – Single Point Mooring


*TLWP – Tension Leg Wellhead Platform


*MOPU – Mobile Offshore Production Unit

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