Westwood was commissioned by global investment firm Carlyle to provide due diligence support on its proposed acquisition of a diversified FPSO business from Altera Infrastructure Group.
Project Brief
Global investment firm Carlyle engaged Westwood to support its acquisition of a diversified Floating Production, Storage and Offloading (FPSO) business from Altera Infrastructure Group, a leading offshore energy infrastructure company owned by Brookfield Asset Management.
The mandate required a strategic due diligence study to evaluate the commercial viability and long-term value of the FPSO fleet. Carlyle sought clarity on market fundamentals, asset economics, and competitive positioning to inform its investment decision.
Consulting Sectors: Offshore Energy Consulting, Floating Production Consulting
Westwood Approach
To deliver on Carlyle’s objectives, Westwood conducted a bespoke due diligence study powered by our offshore intelligence solution, PlatformLogix. Our team provided a thorough analysis of the leased FPSO sector, including:
- Historical and forecasted supply-demand dynamics
- Utilisation trends and dayrate benchmarks
- FPSO construction costs and asset lifecycle modelling
- Evaluation of sale-and-purchase transactions and scrap values
- Review of contracting structures and market entry barriers
This approach combined deep market data with commercial insight, enabling Carlyle to assess both risks and opportunities with confidence.
Project Outcome
Westwood’s analysis equipped Carlyle with a clear, data-backed understanding of the FPSO market. The insights delivered:
- Validation of the strategic rationale for the acquisition
- Identification of key commercial risks and upside potential
- Support for internal investment committee decision-making
- Enhanced confidence in the long-term value of the FPSO portfolio
Westwood Consulting Project Team
For every energy consultancy mandate that Westwood delivers, we define key roles to ensure the smooth management and delivery of each project.
Thom Payne
Thom led the client relationship, ensuring consistent communication and strategic alignment throughout the project. His leadership was key to maintaining clarity on objectives and delivering actionable insights.
Nick Patience
As well as providing oil and gas industry expertise, Nick managed the day-to-day execution of the project, developing due diligence material. His structured approach kept the project on track and responsive to evolving client needs.
Weng Tim Lam
Tim was responsible for the core analytical work, including FPSO supply and demand, dayrates and commercial considerations such as S&P transactions. His expertise in offshore infrastructure was instrumental in shaping the final deliverables.
Mark Adeosun
As Director of PlatformLogix, Mark provided deep domain expertise on floating production facilities. He led the data analysis and market modelling, with a particular focus on global FPSO trends and commercial dynamics.
