Southeast Asia’s FPSO market remains buoyant with several tenders for floating production, storage and offloading vessels under way or expected to hit the streets this year to exploit both gas and oil assets.

But floater projects in the region could find themselves in competition with field developments elsewhere that also require FPSOs.

The Southeast Asian FPSO opportunities are expected to appeal to the likes of the Malaysian contractors Bumi Armada, MISC, Yinson and MTC, as well as India’s Shapoorji Pallonji Energy, Oslo-listed BW Offshore and Netherlands-headquartered Bluewater Energy Services.