4.3.18Inventories
31 December 2024 | 31 December 2023 | ||
|---|---|---|---|
Materials and consumables | 10 | 13 | |
Goods for resale | 0 | 0 | |
Multi-purpose floaters under construction | 27 | 135 | |
Total | 37 | 149 |
Multi-purpose floaters (’MPFs’) under construction relate to the ongoing EPC phase of any Fast4Ward® new build hulls. Fast4Ward® hulls remain in inventory until they are allocated to a specific FPSO contract.
The decrease of the inventory balance at year-end 2024 mainly relates to the allocation of the multi-purpose hull to the GranMorgu FPSO awarded in 2024 partially offset by the new multi-purpose hulls for use on future FPSO projects. As per December 31, 2024, the Company has two MPFs under construction (December 31, 2023: one MPF under construction).