Energy Maritime Associates (EMA) today announced the publication of its Q3 2026 Floating Production Systems Quarterly Report, confirming the floating production contracting boom that kicked off in late 2025 has sustained strong momentum through the first half of 2026.
Over the past 12 months, the global offshore sector has secured 12 FPSO awards, a robust tender pace EMA forecasts will hold steady for the remainder of 2026. Recent FPSO contract wins include newbuild vessels for PAJ offshore Angola and the Baleine Phase 3 development. The long-term strength of the FPSO market is further reinforced by SBM Offshore’s new orders for additional MPF Fast4Ward FPSO hulls, with two hulls now available to support upcoming projects.
Gas-focused floating developments have seen a sharp uptick in final sanction activity, alongside oil FPSO momentum. Key gas project milestones include the award of a semi-submersible Floating Control Unit (FCU) for ENI’s Cronos offshore Cyprus scheme, plus the first FLNG unit for Delfin LNG in the U.S. GOM area. EMA’s data tracks a clear pipeline for Delfin’s FLNG: a second FLNG unit is set for award by end-2026, with a third contract scheduled by end-2027.
Samsung Heavy Industries has locked in the construction contract for all three 4.4 mtpa Delfin FLNG vessels, adding to its existing FLNG orderbook of three units currently under fabrication for Petronas (PFLNG3), ENI (Coral North), and Cedar LNG.
Not all offshore developments are advancing on original timelines: Petrobras has postponed tender submissions for its P-88 and P-91 FPSOs, shifting both award decisions into 2027.
Geopolitical fallout from the Iran war has created tangible supply chain disruptions for floating assets under construction in Dubai. Bluewater’s Aoka Mizu FPSO was diverted from Dubai shipyards to Seatrium’s Singapore facility for upgrades ahead of its scheduled deployment to the Falklands.
EMA has mapped 21 potential floating production assets that could be sanctioned in the upcoming 12 months, segmented by unit type as follows:
Q3 2026 FPS Report - Figure 7. FPS Awards in Relation to Oil Price
The newly published Q3 2026 Floating Production Systems Report delivers a comprehensive global floating production intelligence with the updates:
160+ projects in planning pipeline
50+ production units and 10+ storage units currently on order
25+ available units
300+ floating production units and 100+ storage units in operation
Forecast on the expected awards in the next 12 months and regional shifts and contractor backlog movements
All data is fully integrated into Flowline, EMA’s real-time online intelligence platform. Organizations interested in platform walkthroughs or full report purchases may contact EMA directly to schedule a demo.
Upcoming EMA Industry Conference Engagements
1. OSJ Asia – Singapore, September 9–10
2. Gastech – Bangkok, September 13–14
3. Pareto Conference – Oslo, September 16–17
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
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