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Insight

Floating Production Systems

Wed, 01/22/2014 - 12:50

Floating production systems are designed to achieve early production, address technological challenges, and accommodate unexpected weather events in the Gulf of Mexico through the use of adjustable and responsive components and technology. A floating production system is engineered to be fixed in place by anchor chains or ropes, known as tendons, and flexible risers instead of thick concrete legs that stretch all the way to the seabed and are anchored by even heavier masses of concrete attached to the ocean floor.

Juan Manuel Pineda, Vice President and General Manager of McDermott Mexico, talks up his company’s experience and expertise in the engineering, procurement, construction, and installation of floating production systems and its interest in entering the Mexican deepwater market through the use of its Altamira shipyard. “McDermott is backed by a network of specialist engineering offices for subsea infrastructure with deepwater experts based worldwide, including our technology partner for floating production systems, FloaTEC.” FloaTEC, a joint venture between McDermott and Singapore-based energy infrastructure company Keppel FELS, is specialized in the design, constructions, installation, and repair of floating production systems. As PEMEX edges closer to deepwater activities, either through a partnership or as an independent operator, it will have to start defining its approach to deepwater. Due to the working conditions of the Gulf of Mexico, floating production systems are destined to be on PEMEX’s shortlist of technology options for deepwater production. As Pineda puts it, “PEMEX will need to expand into deepwater with its future partners to sustain oil production and revenue streams that currently account for nearly a third of the country’s revenue. It will also need the expertise and experience of engineering and construction firms with the right technology, assets, people, and established operations in Mexico."