What is an FPSO?

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.

FPSO structure

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.

 

FPSO owning and chartering business for oil and gas field, offshore Ghana

Project Profile

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.

Outline of the project

Name of FPSO

John Agyekum Kufuor

Crude oil production capacity

58,000 barrels/day

Gas production capacity

210 million square feet/day

Crude oil storage capacity

1.4 million barrels

Mooring system

Spread mooring (about 500 to 1,000 meters below the surface)
*Multi-point mooring system to hold a vessel in position using multiple mooring lines

Shareholding ratio

Yinson Group: 74%, four partners: 26%

Chartering period

15 years from June 2017

Positioning of this project in “K” LINE Group

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.”

FPSO for offshore gas/oil field in Ghana / John Agyekum Kufuor
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FPSO for offshore gas/oil field in Ghana / John Agyekum Kufuor