Abstract
Abstract The drastic fall of oil prices in late 2014 forced a harsh but necessary overhaul to design philosophy in deepwater projects. Bigger was no longer better; the industry set to work on methods for commercial improvement like lean design and standardization. Throughout a slow recovery in commodity prices and steady persistence to innovate and implement improvements, the deepwater sector made significant strides in commercial and operational efficiency. This paper discusses some background and foundation providing insight on the commercial drivers post 2014 that significantly changed floating production system (FPS) design philosophy, with a particular focus on US Gulf of Mexico. The paper explores near-term outlook of design; looking more in depth at lean design and "hub-n-spoke" models. It also explores longer-term outlook of the next chapter in FPS design, touching on technology and automation that can relocate staff onshore, increasing safety, reducing capex, opex and increasing return on investment (ROI). The commercial analyses presented in this paper are indicative and subject to revision. The paper is one that will set the stage for the 2020 OTC technical session: Floating Memories – Look Back to Leap Forward.
Published Version
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