Beyond the Horizon: Sustainability and Environmental Considerations in FPSO Operations

Matt Easterlin20 Dec, 2023News

The floating production storage and offloading market was estimated at USD 22.7 billion in 2022 and is likely to grow at a CAGR of 5.99% during 2023-2028 to reach USD 32.37 billion in 2028. Floating production storage and offloading is a process in which crude oil is produced in a floating boat-like structure from the seabed connecting the mooring system through a turret and separating oil & gas from the water and transferred to the shuttle where crude oil is refined and offloaded.