South America Dominates Global FPSO Market With $181 Billion Deepwater Buildout

South America is set to maintain its position as the most significant region for floating production, storage, and offloading (FPSO) vessels, with 36 projects awarded or expected to be awarded between 2021 and 2030, totaling field greenfield commitments worth around $181 billion. Among these 36 projects, 25 have disclosed FPSO costs ranging from $339 million to $4.6 billion; of these, 21 have been awarded, and 15 remain to be awarded by 2030. However, the sanctioning environment has shifted since 2024, with inflation and market uncertainties creating…