With a total of 45 vessels on stream and at least a dozen more contracted and due to enter operation in coming years, Brazil is by far the largest market in the world for floating production, storage and offloading installations.

Led by state-controlled oil company Petrobras, Brazil alone is responsible for a third of the global demand for new FPSOs, a trend that is not expected to slow despite the lack of major pre-salt discoveries in the Campos and Santos basins in recent years.