How Much Does an FPSO Cost?

Considering FPSO vessels importance, the cost of their full form can range from $200 million to $3 billion. 

But what makes these special vessels in our oil and gas industries worth so much?

Continue reading as we’ll explore the reasons and aspects that led to its high cost.

What is an FPSO?

FPSO, or Floating Production Storage and Offloading, are vessels used for the oil and gas industries.

It collects and processes raw oil from the sea areas where it is stationed.

To learn more about it, we provided a video that we hope can help you understand these amazing vessels. 

What is the Purpose of the FPSO?

FPSO’s main purpose was to collect and clean natural gas and oil before temporarily storing them in the vessel. 

Their unique structure makes them suitable to work in deep-water locations where raw oil and gas come from. 

Thus, they’re the reason why we have products like gasoline and lubricants. 

What are the Advantages of an FPSO?

As mentioned earlier, FPSOs are a crucial part of the oil and gas industry because of their unique and useful design.

But what makes them unique and widely used, which leads to their cost?

It’s because of their amazing advantages, such as:

Flexibility

FPSO are boats that can be used in deep-ocean areas.

They’re not fixed platforms, which allows them to move to new areas when the current area’s raw oil and gas runs out. 

So, it provides an easy and lifelong service to the oil and gas industries.

Large Storage

FPSO’s huge storage containers can hold a lot of raw oil until it can be shipped on land. 

This makes them suitable for deepwater areas that can extract a lot of oil and gas in our extraction well.

Thus, these vessels are notable for their huge tanks. 

Increased Safety

FPSO has a rotating towel, or turrent, that connects to the current ocean floor where the vessel is stationed.

This unique system makes the vessel rotate according to the wind and waves’ directions to stabilise. 

Lastly, this vessel ensures it cleans the collected water before throwing it back into the ocean.

More Budget-Friendly

FPSO is less expensive compared to building huge pipelines that connect to water areas.

Also, building pipelines that are directly connected to land facilities is more expensive and often challenging in deepwater areas. 

Furthermore, building fixed platforms is more expensive because you will build another one for a new area when the last oil well runs out. 

The FPSO Cost

After learning about the uniqueness of FPSO, it is no wonder that its estimated cost often ranges from $200 million to $3 billion.

But, in some cases, it can be higher than that. 

The FPSO’s full form cost may depend on many factors, such as:

Operating Environment

They are designed to be used in deep water and dangerous areas that need high quality and a strong structure. 

That’s why the cost might rise because of the following:

• Ocean depth
• Weather circumstance
• And so on

So, the cost of FPSO will depend on the overall design and different equipment because it depends on the environment’s conditions.

Conversion vs. New-Build

Building a new one is more expensive than upgrading an oil tanker to an FPSO.

Oil tankers are vessels that carry and transport raw oil to land facilities.

So, these vessels are existing structures that can be turned into FPSO, which is much less expensive.

Manufacturing capability and design

The vessel’s overall size and processing equipment play a big part in its cost.

Of course, FPSO with larger storage as well as natural oil and gas production equipment are more expensive.

So, the cost depends on various equipment and systems you want on your vessel, like storage tanks. 

FPSO Ball Valves Manufacturer Gowin

You might now be looking for FPSO manufacturers that can provide you with some important devices, like valves.

So, who are you going to call? It’s Gowin!

Their 16 years of expertise can help you find valves for your needs, which include:

Ball Valve

FPSO ball valves are also ideal for the vessel’s pipes because they can quickly open and block the liquid’s path. 

The reason behind this is because of the rotational ball that is attached to the faucet’s stem, which leads to its quicker response.

Want to discover more about their simple but useful design? Don’t worry, we provide you with a video here.

Gate Valve

Gate valves are perfect when you want to fully block the flow of materials into a pipe when closed. 

This is because they have a sliding gate or wedge design that creates an effective seal for the different liquids that FPSO collects. 

To learn more about these valves, we also have a video to help you!

Globe Valve

As stated by a 2017 study, “globe valves have good throttling ability.”.

Globe valves are known for their amazing ability to control how fast the material goes through your FPSO pipes. 

To learn more about how it works and how it can help you, you can watch this video.

FPSO Cost: Key Takeaways

The FPSO cost can range from $200 million to $3 billion, but it still depends on many factors, including:

• Operating Environment
• Manufacturing capability and design
• Whether it is conversion or new-build

While these can be expensive, they’re your lifelong and reliable vessels for collecting and processing oils in the ocean.

Have more questions that we haven’t covered yet? Don’t hesitate to share it with us!