The floating production, storage, and offloading (FPSO) market is poised for significant growth, with engineering, procurement, and construction (EPC) opportunities worth up to $25 billion projected over the next five years. According to Rado Antolovic, CEO of Dubai-based Drydocks World, this growth reflects an increasing preference among operators for the EPC contracting model.
In an exclusive interview with Upstream, Antolovic described the FPSO EPC market as “buoyant,” with projects valued between $20 billion and $25 billion expected to be awarded to top shipyards and contractors by the end of the decade. This rise in activity underscores the continued importance of FPSOs in meeting global energy demands.
Drydocks World, renowned for its expertise in FPSO conversion projects, is actively expanding its presence in the full-scale EPC market, seeking to capitalize on the emerging opportunities.
With FPSOs playing a critical role in offshore oil and gas production, the demand for efficient and cost-effective EPC solutions is expected to drive substantial investments in this sector.
