Abstract This paper presents the strategies adopted for converting an existing oil tanker into an FPSO (Floating Production, Storage, and Offloading). Conversion projects typically have shorter lead times than new builds, and repurposing an existing vessel reduces waste and aligns with environmental sustainability goals. Ship conversion to FPSO is a strategic approach that combines cost efficiency, sustainability, and operational flexibility. The approach is based on the last seven converted leased units adopted by Petrobras to exploit deep-water giant oil fields offshore Brazil. All these units consist of a business model contracted through a general technical description. This process involves extensive modifications to adapt the original ship for its new role in offshore production and storage, such as topside installation, adding processing modules for oil, gas, and water separation, and gas compression and treatment systems. Converting oil tankers into FPSOs is vital to supporting the offshore oil and gas industry's need for flexible and efficient production solutions. An FPSO asset is the critical path for a production system in developing a field. While the process is complex and requires significant expertise, the benefits of cost savings, faster deployment, and sustainability make it an attractive option. As technology advances and environmental considerations become more prominent, the FPSO conversion process will be a solution, highlighting its benefits, challenges, and future trends, considering cost, timeline, sustainability based on recycling, regulatory compliance, operational life, and decarbonization, incorporating technologies to reduce the carbon footprint of FPSO operations. Oil tanker conversion for FPSO is a strategic approach that combines cost efficiency, sustainability, and operational flexibility. The offshore oil and gas industry can meet production demands by repurposing existing vessels while minimizing costs and environmental impact. However, successful conversion requires careful planning, engineering expertise, and adherence to safety and regulatory standards. The paper addresses the main topics of interest, focusing on the experience of recent conversion work for an FPSO operating offshore Brazil.
Estefen et al. (Tue,) studied this question.
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