Endeavor Management has opened participation in its latest joint industry project (JIP) – Best Practices for the FPSO Industry.
Image of the Cidade de Marica, from SBM Offshore.
In today’s price environment, understanding the best practices for managing, designing and executing projects is essential, the firm said. On FPSOs (floating production, storage and offloading vessels) this need is critical due to the numerous interfaces, contractual boundaries, and challenging regulatory, flag state and class requirements. Understanding the best practices in these areas should lead to streamlined projects with a stronger chance of achieving success.
This JIP proposes to utilize Endeavor’s Expert Advisory Group to gather information from each of the participants, evaluate that information, develop and propose metrics, hold lessons – learned sessions to rate practices and achieve alignment on the best practices, and then to document this effort for participants.
The issues to be examined include: strategic decisions, project delivery, mooring and offloading, hull design, process module design, vapor recovery, gas and water treating, startup and end of project, and operational considerations.
Endeavor proposes to conduct this JIP on a representative cross section of the stakeholder segments involved in delivering an FPSO: oil and gas operators, leased FPSO providers, shipyards/fabricators, engineering companies, and class organizations. Ideally at least 2 to 3 players from each of these groups would become member companies. Collaboration on best practices across this industry cross section should yield significant improvements in alignment and the opportunity to reduce costs.
Bruce Crager, Executive Vice President of Endeavor Management, stated, “The challenges facing FPSO owners, operators, and contractors are significant in the present environment,” said Bruce Crager, executive vice president, Endeavor Management. “With this JIP we expect to find the best approaches to building and operating existing and future FPSOs.”