British research firm Visiongain's analysis indicates that the offshore production mooring systems market will reach a value of USD848 million in 2012
This includes all research, manufacturing and installation costs for mooring systems on FPSOs, FLNG vessels, semi-submersibles, spars and TLPs.
The lead analyst of the report commented that: "The offshore production mooring systems market is about to experience a period of substantial growth as FPSOs used to enable production in remote or deepwater locations continue to expand in number, most notably offshore Brazil, while the first FLNG vessels used to access stranded gas reserves are scheduled to come into operation over the next five years.
"The proliferation of floating production systems throughout the world is creating a number of opportunities and challenges for mooring systems and mooring component providers, particularly as production increasingly moves into deepwater locations."
Source: Asiasis
