With over 200 years’ cumulative experience in offshore operations, it’s no surprise that SBM Offshore possesses a great deal of knowledge concerning the effects of age on FPSO hulls, moorings and topsides. We use this knowledge to create solutions that effectively extend the operating life of our offshore assets for clients.
FPSOs – life extensions and relocations
Demand for FPSO systems is increasing for two key reasons: first, they enable clients to operate in ultra deep water and remote locations; second, they are incredibly flexible, capable of being relocated from a depleted field to another location where they can produce reserves for the operator.
We were the first company to successfully relocate an FPSO some 18 years ago. Since then we have achieved several more life extensions, most recently the FPSO Capixaba offshore Brazil in 2010. We completed refurbishment of the Capixaba in only four months, thanks to careful pre-preparation, including a detailed survey of the FPSO, the creation of a thorough refurbishment plan and well defined yard scheduling and cost estimates.
Our experience establishes us as the global leader in FPSO relocations: a partner with a proven track record in overcoming the many different technical and project management challenges involved in extending the operating life of an FPSO.
Leading the market
We expect to relocate a further four vessels in the near future – and our review of the FPSO market in its entirety suggests that up to 22 FPSOs may very well be considered for relocation over the next five years, as clients endeavor to maximize the value of these assets. Relocations are likely to be considered for a number of different reasons:
- Termination of an existing contract
- The underperformance of a reservoir
- A need to replace an FPSO at the end of its design life with a new unit