Presentation on theme: "Safinah Ltd The resource to manage your coating risk – minimising your costs wherever you are www.safinah.co.uk European Coatings Conference Review of."— Presentation transcript:
Safinah Ltd The resource to manage your coating risk – minimising your costs wherever you are European Coatings Conference Review of the FPSO Market
Oil forever? “ The Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.” - Sheikh Zaki Yamani, a Saudi Arabian who served as his country's oil minister three decades ago.
A bit of history Huntingdon Beach California 1948 $126 for a plot of land free with an encyclopaedia set
Lake Maracaibo Venezuela 1960’s Caspian sea 100 miles offshore
Finally offshore Louisiana 1947 first system out of sight of land Kerr McGee
Offshore systems Civil Engineers Naval Architects Engineering Co.
FPSO Initially for deep water harsh environments Not suitable for main GOM – shallow water However –Low time to build or convert and reduced costs –Result in use in shallow water also as cost effective
FPSO Floating Production Storage Offloading First FPSO “Shell Castelon” built in 1977 in Spain Not to be confused with FSO
Market in Service by number
On order by number
Order time line No. of FPSO
Where are they being built *Includes full and modules
Projects planned Mar 2008 – 86 Mar 2011 – 124 Mar 2013 – 154
Fleet age profile
Next 5 years Likely to be sustained at Mar 2008 levels for next 5 years. –World GDP –Demand for Oil declines in developed countries e.g.US Car fuel consumptions targets –Shale oils and other sources –Oil price high at present –Rising costs/delays/capacity
New build issues Available hulls for conversion as opposed to new build Local content requirements Price/Finance Schedule Capacity Bigger vessels and deeper water
Capacity increasing Demand is on the increase with Europe mainly going for new builds and or re- deployment (80:20) – high fatigue demand Rest of the world relying on conversions, then new builds and the redeployment (50:40:10)
New challenges Development in subsea tie ups Price of oil EOR systems improved Larger fields ~ larger units Smaller fields ~ tie back Pipeline capability/technology. Temperatures and chemical make up AIM – Asset Integrity Management Life Extension
AIM and Life Extension The big challenge together with Life Extension programmes –1 FPSO – 10% of total workforce man-hours on fighting corrosion Looking to add up to years on design life Want to maintain – spend on coatings Permanent means of access Anodes
Coating issues New build specification Maintenance specification Repair specification Harsh environments –Africa - high corrosion - low fatigue –N.Sea - high fatigue – low corrosion –Edges
Coating management Need to engineer solutions –Performance specifications –Processes and procedures –Data recording and mapping –Assessment of coating life –Benchmark testing
Coating system needs Life expectancy – 25 years Through life maintenance Conservative at New Build (yards) Owners pay the price.. CAPEX vs OPEX
Key attributes New build Match the process Match the location/timing Shop primer weathering/welding Min number of coats Compliance/Norsok etc. Low Al content Age onset embrittlement Edges M&R Ease of M or R Process compliant Alternative technologies Harsh environments Time frames Environmental control
Anti Fouling To coat or not to coat –Biocide technology –Biocide free technology –Abrasion/impact –Ice Load on mooring systems can add huge costs. New solutions?
Other areas Cargo tanks –High temperatures –Sulphur content Ballast tanks –Critical –Higher temps –Reverse impact
Other areas Decks/Turrets –Restricted ventilation –Complex structures –Poor coating system solutions in service
Coating demand Based on a generic scheme Based on a generic FPSO Serves as an indicator not an absolute
Vessel areas Vessel dwt - 110,000 Length- 240m Breadth- 40m Depth- 23m Topside weight t
Challenges Focus on M&R solutions Focus on benchmark testing Focus on survey/data collection (all in one service) Focus on complimentary technologies Demand will increase as current NB specs are simply not good enough.
Thank you Any questions?
Safinah Ltd Independent coating and corrosion prevention consultants