Oil & Gas IQ | Top 10 FLNG projects
Oil & Gas IQ have a look at FLNG projects past and present - rounding Running in tandem with the development of FPSOs, FLNG projects have . with a vibrant network of professionals, keeping up to date with the industry. FLNG. As a world leader in offshore floating solutions, SBM Offshore offers its expertise to achieve clients' goals. Our approach is rooted in 20 years of designing. Floating LNG: Revolution and evolution for the global industry? .. shipyards have related capabilities in constructing oil FPSOs and LNG .. A leading global provider of professional services to the LNG industry, KPMG member firms . accurate as of the date it is received or that it will continue to be accurate in the future.
Out of the nine floater awards anticipated this year, five have already been confirmed: Rystad Energy Digitisation of FPSO Like many other sectors, oil and gas is experiencing the steady digitization of operational procedures to promote efficiency and save costs.
However, unlike other industries, oil and gas have been slow to adopt increased connectivity and the technologies associated with the Internet of Things IoT. The rapid conversion of operational technology OT and information technology IT has resulted in increased efficiency through big data, analytics, sensors, the ability to automate highly sensitive tasks and more.
From fleet data to analytics tools and predictive analytics, these technologies can be used to determine success rates, estimations of topside components and more. Monitoring technologies are far better now than they were many decades ago when most FPSOs were commissioned. The digitization of FSPO has helped prolong the shelf life of many older vessels.
Companies now have a better grasp measuring the fatigue of vessels and how each project impacts a vessels service life.
Oil & Gas IQ | FPSO - FLNG
Organisation now has data on hulls, mooring systems, processing equipment and everything in between. Not only does this lead to intact components of a vessel being recycled, but the data produced also leads to more efficient designs. How Operators are Making Digital Operational The sector is already towards the front of this transformation, using digital technologies overall. Of course no land is required for the FLNG vessel, no loading jetty, and no pipelines or shore approach.
Furthermore, there is less likelihood of urban development near to the facility.Megastructures Petronas PFLNG SATU
Logistics support for FLNG is likely to be supply boat and helicopter based, whereas an onshore facility might be serviced by road and fixed wing aviation. As an immature technology, experience suggests that cost predictability and cost control of FLNG developments will be an issue, at least with the early projects. This will require greater levels of contingency in time and budget, together with strong client project supervision.
In turn this will pose increased risks to project finance providers, limiting the level and restricting the sources of financing that can be expected. Although difficult to place a dollar figure on mobility, FLNG facilities offer one major advantage over traditional approaches, as a result of them having the potential for relocation.
For investors, this can represent a significant area of risk reduction with a potential commensurate adjustment to the cost of finance, or at least a mitigation of the technical risk premium mentioned above.
Finally, local content must be considered. However, these days both onshore and offshore project developments depend strongly on modular fabrication in yards remote from the project site. Although the near-term focus tends to be on the local content of project development, the long term prize lies in the local component of the operational support and economic multiplier effect during the decades of project operation.
On this analogy, what trends might be seen in FLNG? Reduction in unit development costs. As more yards develop the capability to build FLNG units, supply chains evolve, and technology becomes established, unit costs in real terms are likely to fall. Technical maturity and project experience will build the confidence necessary for project finance to become available.
Oil & Gas IQ | FPSO revival: Opportunities and outlook
This, in turn, will bring FLNG developments within the reach of the smaller player. Vessel owners will begin to offer FLNG capacity on a leased basis. This trend is already emerging. Other commercial structures will evolve to match project development risk with FLNG ownership risk. Developers will continue to explore other options to new build. Conceptual designs for a higher capacity, twin-hull design, based on two LNG carriers, have also been considered.
Variety in vessel capacity, cost, capability, and specification will continue to emerge. Inevitably, with any new technology development, some projects will not go according to plan.
There may be economic shortfalls due to cost overruns, technical failures, or market conditions. Top 10 FLNG projects: The Doughnut is also remarkable for its proposed square doughnut hull shape, which would have resulted in an extremely stable platform with a moonpool in the centre, able to take advantage of excellent motion characteristics.
The size of the pool was designed to dampen the movement of the vessel, and the entire hull was to be built in four sections — allowing standard-sized docks to build such an enormous vessel. This was the first design to show that a full floating LNG chain was possible — and could be built by The Azure study revealed the need for financially-viable mooring solutions, as well as improved hydrate management systems.
FPSO revival: Opportunities and outlook
Prelude, Australia 3. The Prelude is half a kilometre in length and constructed of a quarter of a million tonnes of steel. It displaces as much water as six aircraft carriers and over engineers contributed to its design.