Zion Market Research Global FPSO Market, 2015–2021 | Page 2

FPSO Market
Zion Market Research, the market research group announced the analysis report titled
'FPSO Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2015–
2021’
FPSO stands for Floating Production, Storage, and Offloading. An FPSO vessel is a type of
floating production system that is used for the offshore production, storage, and offloading
of oil and gas. Usually, it is a vessel that is a converted oil tanker or a newly constructed
FPSO unit. An FPSO often resembles a ship, equipped with production and processing
facilities onboard. FPSOs comprise offloading facilities for the transportation of processed
oil and gas to onshore receiving facilities through a shuttle tanker. These vessels are used
to extract or receive raw hydrocarbons from sea beds, which are then processed in onboard
processing facilities.
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The installation of fixed processing and production facilities is technically very complex and
costly in remote oil and gas production areas; this, in turn, increases the demand for FPSOs
excluding the need for fixed processing facilities. Marginal fields and challenging
environments have been others factors that act as driving factors of FPSO market
expansion. The considerable expansion in oil & gas exploration and production in deep
water, ultra-deep water, and offshore fields is expected to boost the global FPSO market
growth over the forecast period. Increasing consumption of oil & gas globally, particularly in