Floater market 'in reverse gear'

As many as 27 floating production units that are presently sitting idle are likely to be scrapped due to a dearth of new field projects, with no contracts awarded so far this year, according to a market analysis.

Feeling fallout: Petrojarl Varg FPSO
Feeling fallout: Petrojarl Varg FPSO
Published 19 April 2016, 14:32Updated 18 October 2016, 04:50