Difference between converted fpso and new fpso

A Converted FPSO (Floating Production, Storage, and Offloading) is a type of FPSO that is converted from an existing vessel, such as a tanker, a cargo ship, or a drillship, whereas a New-Build FPSO is a purpose-built FPSO designed and constructed from scratch.

Here are some key differences between a Converted FPSO and a New-Build FPSO:

Converted FPSO:

  1. Cost savings: Converted FPSOs are often cheaper to build than new-build FPSOs, as the conversion process is less complex and requires less new construction.
  2. Faster delivery: Converted FPSOs can be delivered faster than new-build FPSOs, as the conversion process can be completed in a shorter timeframe.
  3. Environmental benefits: Converting an existing vessel reduces the environmental impact of building a new FPSO, as it eliminates the need for new construction and reduces waste.
  4. Limited customization: Converted FPSOs may have limited customization options, as they are designed to fit the existing vessel's layout and infrastructure.
  5. Higher maintenance costs: Converted FPSOs may require more maintenance and repairs, as they are older vessels with existing infrastructure that may need to be upgraded or replaced.

New-Build FPSO:

  1. Customization: New-build FPSOs can be designed and built to meet specific customer requirements, allowing for greater customization and flexibility.
  2. Higher quality and reliability: New-build FPSOs are designed and built with the latest technology and materials, ensuring higher quality and reliability.
  3. Lower maintenance costs: New-build FPSOs typically require less maintenance and repairs, as they are designed with modern infrastructure and systems.
  4. Longer lifespan: New-build FPSOs can have a longer lifespan than converted FPSOs, as they are designed to operate for 20-30 years or more.
  5. Higher upfront costs: New-build FPSOs are more expensive to build than converted FPSOs, as they require new construction and more complex design and engineering.

In summary, converted FPSOs offer cost savings and faster delivery, but may have limited customization options and higher maintenance costs. New-build FPSOs offer greater customization, higher quality and reliability, and lower maintenance costs, but are more expensive to build. The choice between a converted FPSO and a new-build FPSO depends on the specific needs and priorities of the project.