(Vol. 3, August 2025), offering a detailed overview of market trends and key project activity across the global floating production sector.
Following a slow start to 2025, with only three Floating Production System (FPS) awards through April, the market has picked up significant momentum. In the past four months alone, eight new FPS contracts have been awarded, all for gas-related developments. These include:
This uptick in gas projects underscores a shifting focus within offshore energy investments. Of particular note, FLNG orders are now at an all-time high, with an active orderbook of 10 units comprising five newbuilds, four conversions, and one redeployment. For context, only seven FLNGs are currently in operation globally.
“We’re seeing growing confidence in the long-term outlook for gas,” said David Boggs, EMA Executive Director. “These latest awards reflect that sentiment, and we expect this level of activity to continue.”
Figure 14. Orderbook by FPS Type - FLNG orders reach a record high, with 10 units now in the global backlog, surpassing past levels and reflecting growing demand for gas-focused floating production solutions.
Looking ahead, EMA has identified 25 potential projects (requiring 26 units) that could be sanctioned over the next 12 months. This includes up to four FPSOs for Petrobras, three Production Semis, two FPSO redeployments, and two more FLNGs.
The 200+ page Q3 2025 Floating Production Systems Report provides comprehensive data and analysis, including:
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The Floating Production Systems Report is a must-read for anyone requiring trustworthy analysis of the FPSO sector to effect better decision-making, assess business risk, and provide insight into project alternatives.
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.
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Eric Sherman at eric.sherman@energymaritimeassociates.com