Consulting Services Performed
in the Offshore Oil and Gas Sector

IMA provides market analysis, planning and investment advisory services to a wide range of clients in the offshore oil and gas sector. Our clients include oil majors, equipment manufacturers, facility fabricators, construction firms, investors and lending institutions. We have been active in this sector since the 1970s. The following illustrate our range of activities:

  • assessed supply/demand conditions likely to exist in 2025 for a midsize FPSO and identified potentially suitable projects where the production unit could be redeployed should the field operator not exercise its extension option at completion of the firm portion of the lease
  • identified potential redeployment opportunities for an FPSO newly built for use on a shallow water/heavy oil field offshore Brazil, evaluated the suitability of utilizing the unit on each of the alternative projects, identified the type modifications needed and the approximate cost of the modifications for use in each project and estimated the market value of the unit under several sale scenarios
  • assessed the mid/long term demand outlook for floating production systems, profiled the competitive landscape in the industry value chain and benchmarked strengths/weaknesses of 20+ major players in the floating production sector
  • surveyed and documented shipyard progress in completing conversion of an FPSO in Singapore, identified issues impeding delivery schedule, estimated range of expected final capex, examined the shipyard contract and field charter to identify terms impacting project partner liability and assessed likelihood unit will remain on field through the option period and/or redeploy
  • assessed risk factors in offshore E&P following the Macondo oil spill, categorized E&P risk drivers and ranked each on scale of importance, profiled ability of field operators and contractors to manage risk, assessed impact of new risk environment on insurance cost and evaluated extent to which heightened risk jeopardizes the viability of smaller players
  • reviewed the field lease contracts of a major FPSO contractor, evaluated remaining life on field of each unit, examined contract opportunities available to redeploy several units coming off field, projected the company’s mid/long term cash flow outlook and assessed capability of the company to roll over long term debt at maturity in 2014
  • analyzed use of floating facilities for gas liquefaction and regasification and assessed the feasibility of utilizing an FLNG/FSRU supply chain to service a newly constructed power plant
  • reviewed the status of projects to utilize CNG carriers to tap stranded gas and assessed prospects for future CNG ship orders — updating a previous study
  • assessed the effective life of an FPSO operating offshore Australia, prepared for a major FPSO contractor in connection with a dispute with local tax authorities over the appropriate depreciation period
  • evaluated pipeline export vs. shuttle tanker offtake in the Gulf of Mexico and estimated requirements for shuttle tanker construction over the next decade
  • analyzed capex trends for FPSOs and assessed the reasons for differences in capex between leased and owned units
  • profiled the redeployment history and lease extensions of FPSOs and FSOs and projected reuse availability of existing units based on likely field end dates
  • analyzed the feasibility of utilizing modular gas-to-liquid plants on FPSO vessels to tap stranded gas on offshore fields
  • assessed developments and policies impacting future ethanol demand and supply and evaluated ethanol logistics requirements through 2017
  • identified LNG regasification projects in North and South America and evaluated their potential to proceed to development
  • identified construction/lay barges that could be utilized on pipelay projects in Asia and evaluated the option of acquiring an existing unit or building new equipment
  • evaluated the production/export solution most likely to be selected for deepwater projects in the planning stage in the Gulf of Mexico
  • analyzed the demand/supply balance in the global FPSO market likely to exist at the end of the decade
  • assessed the potential for transporting gas via offshore pipeline from Iran to India, prepared for a major Italian offshore construction company
  • evaluated the feasibility of utilizing shuttle tanker offtake as an export solution on remote ultra-deepwater fields in the Gulf of Mexico
  • tracked and assessed planned projects in the Gulf of Mexico and offshore West Africa, a multi-year assignment performed for a consortium of Norwegian offshore oil and gas equipment suppliers
  • analyzed underlying market drivers influencing deepwater production and forecast requirements for floating production systems
  • evaluated possible financing facilities for offshore oil and gas projects, prepared for a major offshore construction contractor
  • evaluated the advantages and issues related to utilizing submerged turret technology for offshore loading and floating production
  • compiled and compared day rates for leased FPSOs currently in service and on order
  • assessed future requirements for deepwater drilling equipment, construction vessels, shuttle tankers and floating production facilities
  • analyzed constraints and developed a plan of action for utilizing non-U.S. documented heavy lift and construction vessels on the U.S. outer continental shelf
  • assessed future requirements for propulsion and maneuvering systems in offshore drilling equipment, construction vessels and support vessels
  • developed a detailed business plan for establishing an offshore production module fabrication facility on the west coast of Norway, prepared for a consortium of Norwegian shipbuilders
  • prepared a detailed feasibility study of utilizing barge mounted plants for methanol and ethanol production
  • benchmarked the relative competitiveness of building floating methanol plants in the U.S. and Japan
  • evaluated the feasibility of utilizing surplus VLCCs for floating oil storage as part of the Strategic Petroleum Reserve
  • prepared more than a half dozen market positioning studies and business plans for shipbuilders considering entry into offshore equipment fabrication
  • assessed the feasibility of using a newly developed portable turbopump for emergency oil recovery — IMA received an award for technical excellence from NASA for this study
  • analyzed the commercial applications for a tethered floating breakwater and evaluated the cost and benefits associated with the system

IMA has prepared 50 multi-client reports on the floating production market over the past 18 years. The reports, published at four month intervals, track business developments in the floater sector and forecast future requirements for new systems. They have become a standard reference document in the industry.

2018 Floating Production Systems Forecast

2018 Floating Production Systems Forecast

WER’s 2018 Forecast Report, the 21st in a series of forecasts dating from 1998, presents our projection of floating production system orders over the next five years. The 102 page report provides market intelligence and insights useful to business planners and others involved in deepwater development. First we present our assessment of the underlying deepwater market conditions likely to prevail over the 2018/22 time frame.

Download

The Hurting Offshore Energy Sector Faces a New Competitor

Video: The Hurting Offshore Energy Sector Faces a New Competitor

Jim McCaul, founder of International Maritime Associates, discusses the energy market downturn and the emergence of shale…

Floating Production News

Liberian Registry, ICS Challenge Brazilian Court Ruling

November 20, 2017

The Liberian Registry, in cooperation with the International Chamber of Shipping (ICS)…

Trafigura to Develop Another Pakistan LNG Import Project

November 20, 2017

Swiss commodity trader Trafigura said it plans to develop its second liquefied natural…

BW Group, Mitsui Form FSRU Joint Venture

November 18, 2017

A joint venture agreement between Japan’s Mitsui & Co. and Singapore’s BW Group Limited…

Energy News

H-100 Gas Turbine Completes Low NOx Testing

November 20, 2017

Mitsubishi Heavy Industries, Ltd. (MHI), Mitsubishi Hitachi Power Systems, Ltd. (MHPS) and Mitsubishi Heavy Industries Compressor…

Algeria Energy Earnings Up 18%

November 20, 2017

Algeria's energy earnings rose 18 percent in the first ten months of 2017, which helped reduce the trade deficit by 34 percent…

ADNOC to Raise $2.25 Bln Pre-IPO Loan for Distribution Unit

November 20, 2017

Abu Dhabi National Oil Company (ADNOC) plans to raise a $2.25 billion loan for its distribution unit prior to selling a stake…