A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021 as oil and gas activity picks up in the offshore sector.

Norwegian oil and gas intelligence firm Rystad Energy reports that 15 of the FPSOs will require production capacity of more than 80,000 barrels per day.

Rystad said that the high capacity demand would come mainly from the developments in Guyana and Brazil where operators such as ExxonMobil, Equinor, and Petrobras are stepping up their deepwater production.

Five of the 33 expected FPSOs will require a production capacity between 60,000 and 80,000 barrels per day and the remaining 13 will require a production capacity under 60,000 barrels per day, Rystad Energy revealed.

In November, Rystad Energy stated that the global floating production market had stirred back to life after enduring a couple of years in virtual hibernation during the downturn.