Floating Production Systems

MAAssociates, Inc. has published a new study that examines opportunities for builders, system suppliers and engineering firms in construction and conversion of floating production systems. The study looks at business opportunities over the next five to 10 years — and provides detailed information needed for establishing position in this rapidly evolving market sector. The following article is an excerpt from the^ report.

There are about 100 JJpfttmg production systems onpj'ming in oil fields offshore Brazil, North Sea, Gulf of Mei&co, Southeast Asia and oth^flocations. IMA has identified>miother 70 near- and interm^mate-term offshore projects suited to floating production and some bullish industry estimates cite as many as 200 prospective offshore projects where floating systems would be a suitable option. This is a wide open market that should be of interest to all builders and marine systems suppliers.

Offshore production options Three basic methods can be used for offshore oil and gas production fixed steel or concrete structures, floating production plants and subsea production. M H B H Each has unique features suitable to specific types of offshore fields. Fixed structures will likely be chosen for fields in shallower water with large recoverable reserves. Floating systems are advantageous in deep waters and for use in marginal oil fields. Sjjbsga completion is still an^arly technology that is cpwsfaered useful for connectm^femote fields to a fixed oj^ftoating platform. The choje^of technology is driven by iter depth, type and amount of recoverable field reserves, weather and sea conditions, area accessibility and other factors — sometimes including political considerations. Ses of floating production systems A wide variety of technical solutions are available for floating production. A common thread running through all options is the ability to tap fields where the cost of fixed platforms would make development uneconomical.

FLOATING PRODUCTION SYSTEMS * Tension leg platforms — The UNDER CONSTRUCTION OR PLANNED • — a massive $1 billion structure T SSHIH^1 ' - No of intended for use in large fields ™ where a fixed platform would not System Units be technically or economically feasible. Utilizing buoyancy forces, T T ens.io n lie g plia tjf orms 3o the huge platform is held in place by g t { J t (Tt h e r s t o t h e s e a b e d ^ p e r_ FPSO vessels 25 mitting only minimum horizontal FPS semi-submersibles 20 motion. This technology dates n j ,. 0 from 1984 when Conoco installed Production spars J t h e first T L p i n t h g N o r t h g ea FSO barges & ships 10 Hutton field. Five TLPs are cur- Undecided 10 rently in service — two in the Gulf of Mexico and three in the North Source; .IM.A. A.ss. o.c iates, C- onstruct. ion uSnead e—r c oannsdt ruthctrieoen noer wp laTnLnPesd . are and Conversion of Floating Production • Semi-submersibles — There