RIO DE JANEIRO—The global FPSO market is projected to surpass US$30 billion by 2025, demonstrating the buoyancy of the industry, according to a recent Global Data report.

Renewed emphasis on reducing project costs, improving productivity and maintaining lower operating overheads are contributing to the growth of FPSO projects being sanctioned.

“The result is improved break-even levels for many of the planned FPSO projects,” the report said. “Oil and gas companies and the FPSO operators are driving cost discipline and integrating innovative strategies to increase efficiency at every stage of the project life cycle.”

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