46 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 South America, West Africa and Asia are currently the most active markets for FPSO projects and are expected to remain so in the next five years. These regions are projected to host the majority of FPSO projects to be awarded through 2030. This concentration reflects the significant oil reserves in these areas and the ongoing investments by major oil companies to tap into these resources. These dynamics underscore the importance of offshore production in the global energy landscape. FPSOs, as a flexible and costeffective solution, are critical in harnessing offshore natural resources. Yinson’s strategic positioning, particularly in key growth regions, aligns with these trends, ensuring that the company remains at the forefront of addressing the complex demands of today’s energy market. PROJECTED FPSO MARKET GROWTH (2024 – 2028) Note: Middle case scenario assuming, among others, oil price of USD 60 to 80 per barrel, world economic growth of 3% to 4% per year and global energy demand growth of 1% per year. Source: Rystad Energy and Energy Maritime Associates – Floating Production Systems Outlook Report, 2023 Issue 4. ASIA 11 projects USD 9 billion CAPEX BRAZIL AND SOUTH AMERICA 24 projects USD 36 billion CAPEX AFRICA 13 projects USD 17 billion CAPEX 60 FPSO projects to be awarded 12 FPSO projects to be awarded per year USD 96 billion total projected CAPEX
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