The hull of an FPSO may be newly built (New-Build) or may be converted from existing tankers (Conversion). Once the development of an oil field is complete, the FPSO can be relocated to another oil field and reused, in which case it will be modified (Modification) to meet the conditions of the new oil field. In either case, it is the only system in the world that is designed and built according to the sea conditions, installation requirements, production volume, production period, etc. and is made to order specifically for the development of each oil field.
As the nature of oil and gas extracted and oceanographic conditions, such as the depth of water, waves, wind and currents, all vary depending on where the offshore oil and gas fields are located, FPSOs must meet specifications that are tailored to the particular conditions, and the specifications required by our customers who are oil companies are also diverse. With the aim of realizing our most important goal of maximizing the life cycle value that we provide to our stakeholders, including our customers, over a long term of more than 20 years from the start to the end of the operation of each FPSO, we have developed two types of new-build hulls for next-generation FPSOs, utilizing the design/construction technology we have cultivated as a leading company in the FPSO industry as well as our abundant experience in providing operation and maintenance services. We have introduced these new types of hulls into our ongoing projects.
Ever since we carried out the construction (conversion) of an FPSO for the first time in 1985, we have converted a number of oil tankers into FPSOs/FSOs. We have built strong relationships with major shipyards around the world, and many of the FPSOs we built, including the FPSO Kakap Natuna, which began its production in 1986, continue to carry out production activities today.