FPSO (Floating Production Storage and Offloading) produces crude oil and gas at sea. Crude oil is stored in tanks and transported directly to the tanker, and Gas is used as fuel for the FPSO’s gas turbine power plant or transferred onshore through pipeline.
Demand for FPSO is expected to grow, as major infrastructure for deep-water oil/gas production that are forecasted to continue increasing.
Hydrocarbons (mixture of oil, water, and gas) produced in the subsea wells are transported to the FPSO via subsea pipeline, flexible riser, etc.
Transported hydrocarbons are separated into oil, water, and gas at the FPSO production facility.
Separated crude oil is stored in oil storage tanks then loaded onto a shuttle tanker moored at the stern. |
Separated gas is used as fuel for the FPSO’s gas turbine power plant or transferred onshore through pipeline. |
In November 2017, four companies- “K” LINE, Sumitomo Corporation, JGC Corporation, and Development Bank of Japan Inc.- have agreed to participate in the owning and chartering business of the FPSO run by Yinson Holdings Berhad, a Malaysian offshore production services provider. This project contributes to stable oil and natural gas supplies in Ghana, thus solving natural gas and electricity shortages in the country.
Name of FPSO |
John Agyekum Kufuor |
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Crude oil production capacity |
58,000 barrels/day |
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Gas production capacity |
210 million square feet/day |
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Crude oil storage capacity |
1.4 million barrels |
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Mooring system |
Spread mooring (about 500 to 1,000 meters below the surface) |
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Shareholding ratio |
Yinson Group: 74%, four partners: 26% |
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Chartering period |
15 years from June 2017 |
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This project, the “K” LINE Group’s first involvement in the FPSO owning and chartering business, is consistent with two strategic policies outlined in its medium-term management plan announced in April 2017: “Advance initiatives for an energy value chain by collaborating with top-notch partners and harnessing our know-how and technologies” and “Generate stable profit in new businesses.”