Floating Production Storage and Offloading (FPSO)and Floating Storage and Offloading (FSO)

Dec. 23, 2011 - PRLog -- The gradual depletion of oil and gas reserves worldwide has led to a global energy crisis. In the face of rising demand, there is a tremendous need for additional reserves of oil and gas which can be brought into production.

The above factors have led several nations, and oil and gas firms, to consider production from marginal and remote offshore reserves. Production from such reserves using conventional methods such as fixed platforms and rigs is extremely intensive in terms of cost and is therefore not commercially viable. Any such venture would involve anchoring the setup on a permanent basis, whose movement to another marginal or remote reserve at a different location would be time consuming, difficult and expensive. Installing a different set up at another well is impractical to an even greater degree due to the high costs involved.

Floating Production, Storage and Offloading (FPSO) vessels offer an advantage in this respect, in that they are mobile and can start production at another site once a marginal reserve runs out of oil or gas. This holds true even in the case of stranded reserves, which tend not to be in clusters and render the building of a pipeline commercially unviable. Certain deepwater reserves with adverse weather conditions present similar hurdles for pipeline construction, and FPSOs are beneficial in such scenarios, due to their mobility and ability to empty stored oil and gas through tankers.

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GBI Research, a leading business intelligence provider, has released its latest research, “Floating Production Storage and Offloading (FPSO) and Floating Storage and Offloading (FSO) Industry to 2016 - Rise of Deepwater Hydrocarbon Production Leading to Industry Growth”. The study, which is an offering from the company’s Energy Research Group, provides an in-depth analysis of the global FPSO and FSO industry highlighting the various concerns and shifting trends. The report provides a qualitative and quantitative analysis of the industry, citing the strategic incentives of the respective parties involved at various levels of the value chain. The report provides in-depth analysis of the key trends and challenges of relevance. The report is built using data and information sourced from proprietary databases, primary and secondary research and inhouse analysis by GBI Research’s team of industry experts.

Floating Production Storage and Offloading (FPSO) technology utilizes floating vessels with onboard processing units to treat extracted hydrocarbons at a preliminary level to achieve greater efficiency in storage and transport, thereby making production cost effective. The FPSO andFloating Storage and Offloading (FSO) industry has grown steadily over the past three decades to become one of the most prominent trends in the offshore oil and gas industry. With technological innovations driving the growth of the industry, and greater interest in exploiting marginal and stranded offshore reserves, FPSO technology is expected to penetrate the market further in the coming decade.

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