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.

Report

FLOATING LIQUEFACTION AND REGASIFICATION
an Assessment of Future Requirements for FLNGs and FSRUs

Download Brochure

FLOATING LIQUEFACTION AND REGASIFICATION - An Assessment of Future Requirements for FLNGs and FSRUs

2019 Annual Outlook. Our new 150-page report is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle. Many FLNG and FSRU projects are planned – but only some will ultimately will move forward to development. The goal of our report is to objectively sort out likely winners and losers – and explain the rationale for the rating.
read more...

Floating Production News

Oil & Gas FIDs to Rebound to Pre-Pandemic Levels from 2022, Rystad says

September 22, 2020

Oil and gas project sanctions, especially in the offshore segment, are expected to…

CNOOC Brings Online South China Sea Oil Project

September 21, 2020

Chinese national oil company CNOOC has produced the first oil from the Liuhua 16…

SBM Offshore in Talks with Petrobras Over Buzios FPSO Charter

September 15, 2020

Brazilian oil company Petrobras has started negotiations with the Dutch FPSO supplier…
September 2020 Monthly Floating Production Systems Report

September 2020 Monthly Floating Production Systems Report

Rebalancing the oil market and reinvigorating upstream investment is proving difficult. A new wave of virus infections over the past month has lowered projections for near term growth in oil demand. OPEC+ easing of production constraints raised crude supply beginning August. Oil inventory remains stubbornly high and slower demand growth + increased supply will slow rebalancing. Crude prices, which had risen to the mid-$40s last month…

Download

Energy News

Germany Offered to Build LNG Terminals to Avert US Pipeline Sanctions

September 16, 2020

Berlin offered to spend 1 billion euros ($1.2 billion) to build two liquid natural gas terminals in a bid to dissuade the…

Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf

September 15, 2020

Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S.

Schlumberger CEO Says Oilfield Growth Will Be at Structurally Lower Rate

September 9, 2020

Top oilfield service firm Schlumberger NV expects to return to 2019 level pre-tax margins by the end of next year, a sign…