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Intecsea flags savings of new floater design

WorleyParsons unit says new low-motion (LM) concept could chop up to $1.2 billion off project costs

Offshore engineering consultancy Intecsea has launched a new range of floater concepts that it claims could slash offshore field development costs by up to $1.2 billion per project.

The offshoot of Australian contractor WorleyParsons said the low-motion (LM) floater designs could be particularly transformative for ultra-deepwater, harsh environment and remote field development projects.

The suite of design concepts includes LM-FPSO (covering floating production, storage and offloading units, LM-FLNG (the floating liquefied natural gas market) and LM-SEMI (for semi-submersible units).

Intecsea said project costs could be cut by between $500 million and $1.2 billion.

The “riser-friendly” designs are suited for both shallow and deep water, with the LM-FPSO able to work in water depths of more than 3000 metres.

One of the major selling points of the LM-FPSO pointed to by Intecsea is there is no need for a turret or swivel.

“Comprised of field-proven components, the reliable LM technology significantly improves platform habitation and helicopter operation while maintaining quayside integration,” Intecsea said.

“The technology’s improved stability also makes the floater less sensitive to the topside vertical centre of gravity and weight changes resulting in reduced risk to the project schedule and cost during execution.”

Intecsea continued: “The LM-FPSO’s superior motion response enables the application of large diameter SCRs [steel catenary risers] in wet-tree applications. It also supports the hosting of TTRs [top tension risers] in dry-tree applications and well drilling and completions from the floater, which is currently not feasible on conventional FPSOs due to their inherently high motion response.”

The LM-FPSO design is currently undergoing certification with classification society DNV-GL.