Energy Maritime Associates (EMA) today announced the publication of its Q2 2026 Floating Production Systems Report, revealing that the surge in activity which began at the end of 2025 has continued strongly into 2026. With four FPSOs awarded so far this year, the industry has now seen eight FPSOs awarded in the last eight months – a pace EMA expects to continue over the rest of the year.
In a significant development for the Brazilian market, Petrobras has successfully awarded two contracts to SBM for the SEAP I & II developments on a Build-Operate-Transfer (BOT) basis. EMA notes that this is a positive sign for future FPSOs to be contracted on similar terms, potentially opening the door for more streamlined project execution.
The ongoing Iran war has dramatically highlighted the global reliance on the Middle East for energy supplies. According to EMA, this is expected to accelerate demand for alternative sources of supply, particularly offshore. Projects that were previously considered commercially challenged are now more likely to move forward, driven by policy support for domestic production and a global push for diversification of supply chains.
After nearly 20 years of waiting, deepwater developments in Nigeria appear set to resume. Shell, ENI, and ExxonMobil are all progressing plans for large FPSOs, with Final Investment Decisions (FIDs) expected within the next 1 to 2 years. This marks a potential turning point for West African floating production.
With these structural changes, the current market outlook now fits more closely with EMA's high-case forecast as set out in the annual 2026-2030 Outlook Report.
EMA has identified 23 potential projects that could be sanctioned in the next 12 months, including:
Up to 2 FPSOs for Petrobras
5 large newbuilt FPSOs
3 FLNGs
Q2 2026 FPS Report - Figure 7. FPS Awards in Relation to Oil Price
The Q2 2026 Floating Production Systems Report provides detailed intelligence across the global floating production sector, including:
160+ projects in planning pipeline
40+ Production units and 10+ Storage units on order
25+ Available units
300+ Production units and 100+ Storage units in operation
The next 12-months forecast of likely awards and market movements
All data is also accessible through Flowline, EMA’s online intelligence platform. Organizations interested in evaluating the platform or requesting a demo are encouraged to contact EMA directly.
Upcoming EMA Events
May 2-6, 2026 – OTC Houston
May 14, 2026 – Floating Energy Forum, London
About Energy Maritime Associates:
Since 1996, EMA has been providing independent, expert analysis of the FPSO market with an unbiased view. We pride ourselves on the accuracy of information provided, built through an extensive network of industry contacts, and our depth of knowledge in floating production. Trusted by more than 200 clients worldwide, EMA serves the entire FPSO market, including E&P companies, service providers, capital investment firms, and asset and facility owners.
Please contact us to schedule a meeting to discuss how we can answer your questions about the floating production sector.
Eric Sherman at eric.sherman@energymaritimeassociates.com