The global FPSO market has bounced back after the 2014 downturn, but there are still many contributing factors needed to ensure that FPSO projects are viable and profitable.

Chief of these factors is constant innovation, which is vital at every stage, from pre-FEED to FEED and finally, to FID. But how can oil and gas companies make sure they retain their innovative edge throughout every step and aspect of their projects?

This is especially crucial in Africa, where 22 FPSO projects have been planned for the near future, in light of the continent’s onshore producing fields having matured and depleted. Governments in the region have also been offering incentives to encourage international investments in its offshore waters.

This has understandably presented Africa with the chance to maximise its oil production, therefore increasing its reliance on project conceptualisation, development and operations.

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