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Floating production market sees new opportunities

But low oil prices make project financing hard to come by, which presents a challenge to Singapore yard groups

The general consensus is that the current oil price environment will still favour leased over newbuild floating production projects, which will continue to play to the advantage of yards in Singapore that have historically focused on going after conversions instead of newbuild projects.


THE floating production market is undergoing a sea change in more ways than one that presents new opportunities to yards in Singapore that are hungry enough to test new limits to make up for order backlog shortfalls as rig-building orders dry up.

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