This article summarizes development of the Azurite field as a way of providing context for evolution of the Floating, Drilling, Production, Storage and Offloading (FDPSO) concept. It also reflects on the project’s technical and economic drivers that led the Azurite project team to select the FDPSO concept. The paper also highlights other application for FDPSOs and discusses some of the key variables that determine the suitability of the FDPSO concept for use in field developments. The step change in economics afforded by the incorporation of a drilling rig onboard a conventional FPSO brings new hope to fields of similar geometry and in similar environments that heretofore were considered marginally economic or uneconomic. The FDPSO concept also has application as an early production system, in advance of full-field developments. The concept has tremendous potential as a ‘game changer’ for field developments, whether it is employed to unlock the value of marginal fields in deepwater – even in a low oil price environment – or as an early production system. As the concept employs a drilling rig onboard the vessel, traditional challenges regarding deepwater drilling rig day rates and availability are eliminated.

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Topics:
Drilling, Manufacturing systems, Ocean engineering, Water, Drilling rigs, FPSO, Teams, Reservoirs, Economics , Vessels, Storage
1.
Howard, Hampshire, Moore, White, and Bayne. “First-Ever FDPSO at Work on Azurite Field Development,” November 2009, Offshore, PennWell.
2.
Simmons, Matthew R. “The World's Giant Oilfields: How Many Exist? How Much do They Produce? How Fast are They Declining?”, January 2002, M. King Hubbert Center for Petroleum Supply Studies.
3.
Lavingia, Nick J. “Managing Risk for Global Energy Projects,” 2005 AACE International Transactions.
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