8 ways to save costs in a FPSO conversion project

8 WAYS TO SAVE COSTS IN A FPSO CONVERSION PROJECT

INOCEAN, 2016

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1. SELECT THE RIGHT SHIP

If you miss out here, it could affect the project from A to Z. We have seen many

examples of that. Therefore; involve the engineering team at

an early stage, before you decide among the conversion candidates.

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Perform physical inspections and make sure you have updated UTM-records. Then you will have reliable information about the condition of the hull.

Based on this one can evaluate critical areas as stability, longitudinal strength, preliminary fatigue calculations and localization of longitudinal bulkhead related to module design etc. 

2. GO ONBOARD

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3. DESIGN BASIS

Develop a Design Basis as early as possible and make sure it’s understood and accepted by all parties: Owner, Class, Warranty Surveyor etc.

The design basis should describe all phases of the project.

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4. TAKE INTO ACCOUNT ENOUGH MARGINS ON THE TOPSIDE WEIGHT 

The topside weight will often increase more than expected during the project, and if you haven’t

taken this into account, the consequence may be reduced load capacity. 

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5. COME TO AN UNDERSTANDING

We recommend that you as early as possible bring the most important interface players together to make sure that they

accept and understand the overall design parameters. This should be done before they start developing the

components and elements that need to fit together in the end.  

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6. CHOOSE THE RIGHT FABRICATION YARD

Selection of fabrication yard is essential. The yard should have experience from the type of

conversion that is relevant for your case.  

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7. DON’T START BUILDING BEFORE THE ENGINEERING IS FINISHED  

This is a repetitive problem; Fabrication starts before the most important engineering work have been completed, which means that same job may need to be done several times.

That could have a major impact on time and cost.   

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8. LET THE ENGINEERING TEAM FOLLOW UP THE PROJECT THROUGH THE EXECUTION PHASE

A smooth transition from engineering to yard fabrication is crucial and can save the project time and money. Very often we see that the yard wish to do things they own way, which is not necessary according to the drawings approved by the client and Class. This could be picked up there and then if members of the engineering team are allowed to follow the project into the fabrication phase.

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