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FPS construction market expected to see slight increase in 2025

Picture of David Boggs David Boggs : Jan 9, 2025 1:30:00 AM

News Floating Production

FPS construction market expected to see slight increase in 2025

The floating production facility construction market continues to be a key driver in the offshore energy sector, with activity expected to stay strong from 2025-2027

The industry may start seeing more gradual demand changes, as opposed to boom and bust.

Industry Insights from Energy Maritime Associates, Executive Director, David Boggs

The floating production facility construction market remains one of the key bright spots in the offshore energy market. Industry sentiment remains extremely positive, although down from last year’s record level. Project delays in 2024 have tempered optimism, while also allowing additional capacity in the supply chain and lower cost inflation. Activity levels are expected to remain high from 2025-27, but new orders will continue to be challenged by project economics and geopolitical events.

Read David’s article in Offshore Magazine for more on the key trends shaping the industry;
FPS construction market expected to see slight increase in 2025

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For further information, please contact: David Boggs

About the Author

David Boggs | Managing Director, Energy Maritime Associates

David Boggs is the founder and Director of Energy Maritime Associates. David has over 25 years’ experience in the Offshore Oil & Gas Industry and was previously General Manager – Commercial at Tanker Pacific Offshore Terminals in Singapore, responsible for all business development and commercial activities for a fleet of leased FSO and FPSO units. He is a leading expert on the floating production market, with frequent appearances in industry publications and conferences. Mr. Boggs has a BA cum laude from Harvard University and an MBA with honors from the University of Texas at Austin, where he was also president of the Energy Finance Group.