The Floating Production, Storage and Offloading System – Past, Present and Future

Abstract

Abstract The paper focuses on the history of the development of the Floating Production Storage and Offloading (FPSO) system and its evolution to be the most adaptable and versatile of floating production systems. These facilities have been deployed in a variety of water depths and metocean conditions in almost every offshore oil producing basin in the world, with a large range of topsides throughput for both oil and gas. The paper has summarized the development of the FPSO system as a function of time, water depth, location, system, type and complexity to illustrate its adaptability to offshore producing basins worldwide. The paper also provides a brief historical description of the evolution of the system by decade, highlighting key projects and technologies and their development over the years. The paper also looks forward to the short-term future of FPSOs in the Oil and Gas industry based on trends and forecast, and the future development especially related to digitalization and carbon footprint reduction. The paper also speculates on the possible application of the system and component technologies to support alternative energy development in the future.