Page 38: of Offshore Engineer Magazine (Mar/Apr 2025)

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FPSOs FLEET DEVELOPMENT

Images courtesy SBM Offshore

PROSPERITY IS OPERATING

IN THE STABROEK BLOCK,

GUYANA AND CURRENTLY HAS

PRODUCTION CAPACITY OF 252,000 BARRELS PER DAY.

FPSO; so I'm making more money building gas carriers focuses on standardization of the hull, says Alexander than I am building FPSOs,” observed Tremblay. Glenn, Chief Operating Offcer of SBM Offshore. Beyond

According to data from Intelatus, Chinese yards are that, rather than macro standardization, smaller elements currently forecast to build or convert two thirds of de- such as light fttings and handrails are standardized. With- clared FPSOs in 2020-2030. Singapore is a far second in each customer’s requirements, further standardization place with ~15% share and the UAE in third place with is possible too, and SBM Offshore tends to use the same ~8%. COSCO (~20% share), CIMC Raffes (~15% contractors, making gains in quality, timeliness and safety share), CMHI (~13% share), CSSC yards (~8%) and by standardizing their supply chain.

COOEC (~7%) are the main Chinese FPSO building The frst Fast4Ward contract was awarded in 2019. and conversion yards. COSCO, CMHI and COOEC Since then, SBM has had three contracts in Brazil, four also have non-FPSO foater orders. in Guyana and one in Suriname. Six have been delivered

Seatrium, bringing together the history of Sembawang and three are under construction. The foaters are gener- and Keppel, has an FPSO market share similar to CMHI ally built in HWS Shanghai Waigaoqiao Shipbuilding or (~15%), but is also a signifcant player in other foater seg- CMHI, with topside integration then occurring at a range ments with nine confrmed projects in the period. of yar ds globally including BOMESC, Seatrium, CMHI

Dubai Drydocks has an~8% FPSO share in the period and COSCO.

and also a signifcant capture of other foaters with six con- “Something that we’ve been focusing on is to deliver frmed projects. very complete and commissioned products. These projects

SBM O ffshore's Fast4Ward program, which builds are not pushed off the quayside at the earliest opportunity. standardized FPSO hulls on spec, helps to shorten deliv- We want to make sure that they’re fully commissioned and ery timelines, bringing newbuilds below the traditional ready for operation.” 36–40 months to 24-27 months. The benefts of stan- Glenn cites the example of the Prosperity FPSO in Guy- dardization have been demonstrated across many indus- ana. “She sailed away from Singapore about two years ago tries, but achieving it on an FPSO is challenging. Much and has been recordable-incident-free. She achieved frst of the topside equipment needs to be customized to each oil in line with the customer’s schedule expectations, and feld’s specifc characteristics including reservoir pressures only 30 days after frst oil, she achieved gas injection. This and fuid composition. meant that we could stop the faring associated with the The Fast4Ward concept, developed in 2015, therefore initial startup. Only 40 days after that, she was up to full 38 OFFSHORE ENGINEER OEDIGITAL.COM