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It is one of the best devised systems to have developed in the oil exploration industry for the marine areas. They will sometimes have production facilities onboard, and are normally used in areas where a pipeline to transport oil to shore isn’t available. Typically a shuttle tanker will moor alongside the FPSO and offload the stored oil periodically.

Innovative technologies, coupled with developments of existing ones, have played a big part in maintaining this standing for so long. The system is foolproof, enables cost efficiency and thus becomes a very major asset when it comes to excavating for oil in the marine areas and provides vast benefits in the production of marginal fields.

Benefits

Technology advancements since the inception of FPSOs have seen the arrival of a host of features, from geostationary turrets to allow the vessel to turn and ride prevailing weather, to the wider inclusion of water or gas injection and gas-lifts.

Also, its simplicity as an offshore production facility, capable of accumulating and storing oil before periodically offloading it to tankers for transport to the mainland – gives it an obvious logistic and economic appeal. Not only does this directly permit the rationalization of shuttle tanker movements but, more fundamentally, it can also allow marginal oil fields, or those in deepwater areas at some physical distance from existing pipelines, to be developed.

The system enables cost efficiency and thus becomes a very major asset when it comes to excavating for oil in the marine areas: it does not require the laying of pipelines and can be moved to new locations.

Finally, FPSOs eliminate the need for costly and expensive underwater infrastructure, they are more environmentally friendly than rigs, and their abandonment costs are less than for fixed platforms.