Approach for Effective Design and Cost Estimation of New built / Conversion FPSO (2014)

Abstract

Floating Production Storage and Offloading (FPSO) sizing and cost estimation has become a challenging task at the early stages of offshore field development. During the early stages of field development designer needs to size and estimate cost in order to decide feasibility of the project. This paper describes a step by step method used to size and estimate the cost of a new built (or) converted FPSO based on basic engineering, existing FPSO data and corresponding metocean criteria for a particular location. This step by step approach covers FPSO sizing, hull structural design, mooring sizing, topsides support design and steel renewal using offshore classification rules and regulations. FPSO cost is estimated based on the design particulars (i.e. hull weights, FPSO particulars, mooring sizes etc.) and current market unit rates. This approach is an effective means to size and estimate cost of an FPSO at early stages of field development which saves overall time and cost for a client.