The FPSO

Contractor
Guidebook

THE FPSO CONTRACTOR GUIDEBOOK | 1

CONTENT PAGE

Introduction Page 3 Modec Page 12

Altera Page 4 SBM Offshore Page 15

BW Offshore Page 7 Shapoorji Pallonji Energy Page 21

Disclaimer: Connect with FPSO Operators Page 25

FPSO Contractors in the guidebook are arranged in
alphabetical order, and in no order of merit/importance.

THE FPSO CONTRACTOR GUIDEBOOK | 2

 As the world continues its recovery from the effects laid down by the pandemic,
there is an increase in demand for energy and projects across the Oil & Gas
sector.

Ahead of the FPSO World Congress 2023, we have put together an essential easy-
to-digest guidebook to some of the biggest FPSO contractors. Understand more
about their strengths and benefits, operational track records, execution models,
and get in touch with their unique insights on the potentials of the industry.
Consequentially, more than 50
FPSO projects has been planned
to take place within the next 5
years.

Unlocking the potentials and

capabilities of each unique FPSO
contractor becomes a key factor
in project considerations.

THE FPSO CONTRACTOR GUIDEBOOK | 3 3

Altera Infrastructure is a leading global energy infrastructure
services group primarily focused on the ownership and
operation of critical infrastructure assets in offshore oil regions.
Altera develop solutions, business models and technology that
will meet the changing demands of energy infrastructure. Altera
is driven by a commitment to be at the forefront of sustainability.

OPERATIONAL ACTIVITY
AT A GLANCE
• ~2,300 total workforce both onshore and offshore
• Strong representation of gender equality by having 17% of
women in Altera’s senior management (10% of total workforce)
• A total of 38 Vessels owned/operated

FPSO Production Capacity Owner- Year Built Location

(bbl oil per day) ship

Petrojarl I 30 000 100% 1986 Atlanta, Brazil

Piranema Spirit 25 000 100% 2007 Lay-up

Voyageur Spirit 30 000 100% 2008 Lay-up

Petrojarl Knarr 63 000 100% 2014 Lay-up

Cidade de Itajai 80 000 50% 1995 Bauna & Piracaba, Brazil

Pioneiro De Libra 50 000 50% 1995 Mero/Libra, Brazil

3R3 (3R Petroleum) 140 000 O&M 2012 Papa Terra, Brazil

Tension Leg
3R2 (3R Petroleum) Wellhead Platform O&M 2013 Papa Terra, Brazil

THE FPSO CONTRACTOR GUIDEBOOK | 4

ESG EFFORTS & ACHIEVEMENTS
BUILDING EMISSIONS REDUCTION INTO FPSO DESIGN

Nearly all emissions on a conventional FPSO come from power turbines, engines, heaters, and flaring. Implementing a
closed-flare system along with solutions such as drawing electrical power from external sources, carbon capture and
storage (CCS), or carbon free firing of turbines/engines, could reduce Scope 1 emissions to near zero. Altera’s standard
offshore customer offering reflects their commitment to be a market leader in the deployment of sustainable technologies
and incorporates solutions that cut emissions, including:

• Volatile organic compound (VOC) recovery system

• Waste heat recovery units (WHRU)
• Smart use of variable frequency drives (VFDs)
• Closed flare system
• Efficient and reliable water treatment processes

REGIONAL Norway North Sea

PRESENCE
United Kingdom
Trondheim
Stavanger
Canada Aberdeen Netherlands
Rotterdam
St. John’s
Philippines
Dubai
Manila
Brazil
Australia
Rio Perth
THE FPSO CONTRACTOR GUIDEBOOK | 5
CASE STUDY
NEXT GENERATION LOW-EMISSION FPSO

Altera focuses on Emission Reduction Technology in three key areas.

Assessment of Effects of using The use of alternative

combined heat power from external fuels, such as
and power cycle suppliers, either from ammonia, hydrogen,
and deployment of the grid, a power or biofuels, to
a carbon capture hub, or floating wind generate onboard
module onboard turbines power, which will be
FPSOs assessed during 2023.

Altera contributes to the development of these solutions by carrying out

internal research and development work, and by collaborating with the
industry and academia. In 2022, they remained an active partner of the
LowEmission research centre led by SINTEF in Trondheim, Norway, as well
as the Net Zero Technology Centre in Aberdeen, UK. Altera also became an
industry partner of the HYDROGENi research program in Trondheim, Norway
in 2022.

The outcome of this work will secure Altera’s position as a leader in design
and operation of the next generation of low emission units and will support
our clients in their emission reduction efforts through the energy transition
period.

THE FPSO CONTRACTOR GUIDEBOOK | 6

 BW Offshore is a diversified offshore energy company,
positioned for sustainable value creation in a changing
energy landscape. The company is a global owner and
operator of innovative floating production storage and
offloading (FPSO) vessels, and is part of a value chain
that provides a safe and affordable supply of energy –
an important factor for economic growth and security
in both developed and developing economies.

OPERATIONAL ACTIVITY
AT A GLANCE
97.1%
Commercial Uptime

(-38%)
GHG emissions in 2022

0
Significant oil spills

322500
BOE per day

8
Assets
THE FPSO CONTRACTOR GUIDEBOOK | 7
ESG EFFORTS & ACHIEVEMENTS

Strategic ESG Steering Committee in place to ensure that sustainability and the
relevant environmental, social and governance-related risks and opportunities are
integrated in the company’s long-term strategy for value creation.

Building a substantial and growing position in offshore renewable energy

infrastructure – Primary investment in Offshore Floating Wind through BW Ideol.

More efficient processing plants on the FPSOs by:

• Divestment of non-core FPSOs
• Combined cycle power generation
• Recovery of Volatile Organic Compound (VOC) Emissions from tanks
• Digitalisation, smart systems
• Improved energy and fuel management

Integrated monitoring software BWO are committed to Sustainable packaging

to assess GHG emissions of efficient, reliable and requirements included
real-time operations compliant operations, in tender documents for
with zero harm to people, new FPSO prospects to
the environment and the encourage potential vendors
communities in which they to select sustainable
operate packaging when providing
materials.

THE FPSO CONTRACTOR GUIDEBOOK | 8

KEY FINANCIAL FIGURES

2022

345.7 650.3 BW Offshore has a sound financial position,

EBITDA Operating Cash Flow enabling investments in offshore energy
infrastructure projects and low-carbon
offshore energy production solutions, while
2021 providing attractive shareholder returns
over time.
401.3 510.2
EBITDA Operating Cash Flow

THE FPSO CONTRACTOR GUIDEBOOK | 9

GLOBAL PRESENCE

UK EUROPE
NETHERLANDS BW Catcher

NORWAY

FRANCE

AMERICAS BERMUDA SOUTHEAST

BW Pioneer ASIA & OCEANIA
BW Opal (under
construction)
INDIA
IVORY
COAST MIDDLE
EAST
USA FPSO Polvo
AFRICA
ABO FPSO
BW Adolo
Units Petróleo Nautipa
Sendje Berge
Offices BRAZIL UAE SINGAPORE AUSTRALIA

GABON
NIGERIA
THE FPSO CONTRACTOR GUIDEBOOK | 10
CASE STUDY

BW IDEOL - DEVELOPING FLOATING

ENERGY SOLUTIONS & OFFSHORE
RENEWABLE POWER PRODUCTION AT
INDUSTRIAL SCALE
Primary investment with a 53.2% ownership in BW Ideol which possesses two full
scale offshore floating wind turbines in France and Japan.

BW Ideol adopts a dual growth strategy of wind farm co-ownership as well as

EPCI & maintenance service provider with 1 GW of projects under development
and 2.9GW of substantiated pipeline which puts it 10GW ahead of its 2022 plan.

By combining existing FPSO and floating wind capabilities to develop and deploy
clean offshore energy production and develop new adjacent business areas,
BW Offshore explores several opportunities for growth. These include low-carbon
FPSOs powered by floating wind or floating gas-to-power plants.

BW Ideol and BW Offshore are collaborating with Fram Green Technology and
the broader Grieg Group to make Power-to-Platform solutions technically and
economically viable on the Norwegian Continental Shelf.

THE FPSO CONTRACTOR GUIDEBOOK | 11

 Founded in 1968, MODEC is a general contractor specializing in engineering, procurement, construction and installation
of floating production systems including Floating. Production Storage and Offloading (FPSO) vessels, Floating Storage
and Offloading (FSO) vessels, Tension Leg Platforms (TLPs), Production Semi-Submersibles, Mobile Offshore Production
Units (MOPUs) and other new technologies which will meet the challenges of various types of gas production floaters.

OPERATIONAL ACTIVITY GHG EMISSIONS & REPORTING

AT A GLANCE CLARITY IN GHG EMISSIONS REPORTING
EPCI EXPERIENCE
2022
50 0 1,503 5,203,364
Units delivered
Scope 1 Scope 2 Scope 3

5
Units under construction
For more information on the classification of
Scopes 1, 2, 3, visit:
O&M EXPERIENCE
https://www.modec.com/sustainability/environment.html

20
Units

275+
Years of cumulative experience

THE FPSO CONTRACTOR GUIDEBOOK | 12

KEY FINANCIAL FIGURES
REVENUE (US$M)

2022

1,775 964
EPC (I) Lease, Charter
and O&M

2,739 75
Total Operating Profit

GLOBAL North Sea

PRESENCE

Gulf of Mexico

Asia
West Africa
Brazil

Oceania
THE FPSO CONTRACTOR GUIDEBOOK | 13
 CASE STUDY
Digitalization allows MODEC to better integrate its
fleet, making operations safer and more efficient.
With more than 10 thousand sensors installed in each
vessel, MODEC has boosted production leveraging
Advanced Analytics for predictive maintenance, a
digital twin of its process plant and a proprietary data
platform to accelerate development and deployment
of new algorithms. These techniques allowed for 65%
downtime reduction in the FPSO Cidade de Campos dos
Goytacazes MV29 from the beginning of the production
UTILIZATION OF DIGITAL for example, making this facility a leader in the industry.
ANALYTICS TO IMPROVE
OPERATIONAL EFFICIENCY The FPSO Cidade de Campos dos Goytacazes MV29 was
selected by World Economic Forum, a Swiss-based non-
> 40 profit foundation, to join the Global Lighthouse Network
Advanced analytics use cases developed for of leaders in applying the technologies of the Fourth
predictive maintenance Industrial Revolution in 2020. It was the only offshore
facility recognized by the Global Lighthouse Network
> 170 bn and also the first time a Latin American facility as well as
a facility operated by a Japanese company is included
Lines of data stored on MODEC’s cloud platform
in the network.”

> 400
Models live and operational on 9 vessels in
Brazil & Africa

> 10 k
Sensors in each vessel

THE FPSO CONTRACTOR GUIDEBOOK | 14

 SBM Offshore believes the oceans will provide the world with
safe, sustainable and affordable energy. Working on energy
transitions, SBM Offshore’s vision and mission strategy are
framed by climate change mitigations with clear net-zero
commitments to reduce carbon and grow renewable energy.

OPERATIONAL ACTIVITY KEY FINANCIAL FIGURES

AT A GLANCE
16
Assets leased/operated

91.1% US$1,010 million US$30.5 billion

Fleet production uptime Record Directional EBITDA 1
Record year-end Backlog2

0.12
Total recordable injury frequency rate
(per 200,000 hours)

ESG EFFORTS & US$1.75 billion 10% proposed

ACHIEVEMENTS Largest ever financing raised dividend increase
for FPSO ONE GUYANA US$1.10 per share
> 2GW of floating offshore wind installed or 7% Yield3
under construction by 2030.

50% reduction of GHG intensity by 2030 on

downstream leased assets

THE FPSO CONTRACTOR GUIDEBOOK | 15

PROVENCE GRAND LARGE,
25MW FLOATING WIND FARM

2023 EXPECTED
COMMISIONING
all major milestones achieved

1st TENSION LEG

FLOATING WIND
each floater will support 8.4MW turbines

~10%1 OF TOTAL MW
CAPACITY
for FOW installed by 2023

THE FPSO CONTRACTOR GUIDEBOOK | 16

PROMISING FOW MARKET OUTLOOK

AMBITION TO BE A TARGETING AT LEAST 2GW SELECTIVE &

MAJOR PLAYER BY 2030 DISCIPLINED
as floating technology provider & installed capacity or under targeting projects delivering value to
leveraging full EPCI capabilities construction all stakeholders

6-12GW potentially installed by 2030 Potential installed capacity (GW)

14

12

10

2024 2027 2030

FLOATING OFFSHORE WIND

KEY DEVELOPMENT AREAS (2023-2030)

THE FPSO CONTRACTOR GUIDEBOOK | 17

REGIONAL PRESENCE
Monaco Shanghai
Carros Nantong
Houston Amsterdam Marly Qidong
Thunder Hawk SBM Offshore Head Office Yantai
DeepDraftSemi Schiedam Tianjin
Shenzhen Qingdao

Porto

Shanghai

Fos Sur Mer

Vitoria
FPSO Capixaba
FPSO Cidade De
Anchieta

Shorebases Dubai
Offices
Bangalore
Units
Rio De Janeiro Luanda
Construction Yards
Shorebase FPSO Mondo
R&D Laboratory FPSO Espirito Santo FPSO Saxi Batuque
Angra Dos Reis N’Goma FPSO
Malabo
Georgetown
Santos FPSO Serpentina
Shorebase
FPSO Cidade De Paraty FPSO Aseng
FPSO Liza Destiny Singapore
FPSO Liza Unity FPSO Cidade De Ilhabela
FPSO Cidade De Marica
FPSO Cidade De Saquarema Kualalumpur
Shorebase
Sao Jose Do Norte FPSO Kikeh
THE FPSO CONTRACTOR GUIDEBOOK | 18
CASE STUDY

EMISSIONZERO® PROGRAM

EmissionZERO® is SBM Offshore’s program targeting near zero emissions. EmissionZERO® brings to market floating energy
production solutions with near zero emissions by setting targets in line with the net-zero ambitions of key stakeholders and
call for their active engagement. Key commitments with emissionZERO®:
• Work towards near zero emissions from operations (scope 1 emissions)
• Source green electricity to run the business (scope 2 emissions)
• Execute projects and procure with continued emission reductions in mind (scope 3 emissions)

Development of an emissionZERO® based FPSO is a key element of the program and is planned in three phases:

PHASE 1
will accelerate existing technology into upcoming tenders;

PHASE 2
focuses on alternative forms of power generation − for instance importing
renewable energy from shore or floating renewable energy solutions,
as well as carbon capture and storage; and

PHASE 3
will look at emission reduction effects of remote operations and
renewable energy storage.

THE FPSO CONTRACTOR GUIDEBOOK | 19

 A
Carbon Capture Modules
Working with vendor to develop
carbon capture modules for offshore
application

B
Zero Flare
Avoiding flaring of gases other than for
emergency use

C
Combined Cycle Power
Using the heat from power generation
to drive steam turbine that creates
power

D
Digitalization
Remote operations and support
digital twin and data analytics avoid
unplanned shutdown

D
Other Means
Offgrid wind power, field central power,
energy recovery & conversion

THE FPSO CONTRACTOR GUIDEBOOK | 20

Shapoorji Pallonji Energy Private Limited (SP Energy) is part of SHAPOORJI PALLONJI GROUP, India’s diversified conglomerate
with 158 years of a rich legacy. SP Energy is a leading offshore energy solutions provider, focusing on both Floating Oil and
Gas solutions and Fixed Platforms. With our specialized expertise, we are dedicated to delivering cutting-edge technologies
and innovative approaches to the energy sector. SP Energy is also India’s leading integrated O&M solutions provider
(offshore & onshore) to energy companies.  

Armada Sterling Armada Sterling II Karapan Armada Armada Sterling V

Sterling III

FPSO Project

Contract Type Bareboat and O&M Contract Bareboat and O&M Contract EPC Contract Bareboat and O&M Contract

Location Offshore Mumbai, India Offshore Mumbai, India Madura, Indonesia Eastern Offshore, India

First Oil April 2013 February 2015 July 2017 First oil ready

Production Capacity 60,000 blpd 30,000 blpd 11,000 blpd 51,254 blpd

Gas Processing 7 MMSCFD 63 MMSCFD 122 MMSCFD 105 MMSCFD

Share holding 51%+1 51%+1 51%+1 70%

THE FPSO CONTRACTOR GUIDEBOOK | 21

 *The regional presence indicates the presence of
REGIONAL PRESENCE SHAPOORJI PALLONJI Group companies in FPSO and non-FPSO business.

AMERICAS EUROPE MIDDLE EAST AFRICA ASIA OCEANIA

North • Italy • Bahrain • Algeria • Libya • South Africa • Bangladesh • Australia
• Canada • Spain • Iraq • Benin • Madagascar • Tanzania • Bhutan
• USA • United • Jordan • Egypt • Mauritania • Zambia • India
Kingdom • Kuwait • Ethiopia • Mauritius • Zanzibar • Indonesia
South • Oman • Gabon • Morocco • Zimbabwe • Kazakhstan
• Argentina • Qatar • Gambia • Mozambique • Malaysia
• Brazil • Saudi Arabia • Ghana • Namibia • Maldives
• Chile • UAE • Guinea • Niger • Philippines
• Mexico • Ivory Coast • Nigeria • Singapore
• Peru • Kenya • Rwanda • Sri Lanka
• Liberia • Sierra Leone • Thailand

THE FPSO CONTRACTOR GUIDEBOOK | 22

OPERATIONAL ACTIVITY
AT A GLANCE

141 Mn+ boe 99%+ 7.42 Mn+ 7.12 Mn+ 1600+

Production (till date) Fleet production LTI & TRI-free LTI & TRI-free EPC Professional strength
uptime Operational Manhours Manhours

ACHIEVEMENTS
• GLOBE OF HONOR award to FPSO Armada Sterling and
FPSO Armada Sterling II for excellence in Environment
Management by the British Safety Council in Oct’2022

• Safety Health Award Recognition Project (SHARP) Award

by the Ministry of Manpower, Singapore for the best
performing vessel (FPSO Armada Sterling V) among all
Singapore Shipyards for 2 consecutive years – 2021 & 2022

• Achieved 5 STARS in all the 3 domains of HSE:

Occupational Health & Safety, Process Safety
Management, and Environmental Sustainability by the
British Safety Council in 2022

THE FPSO CONTRACTOR GUIDEBOOK | 23

CASE STUDY

RECOVERY OF LP SEPARATOR GAS FOR

UTILIZATION AS FUEL GAS

SP ENERGY is implementing Recovery of LP separator gas

for utilization as fuel gas at one of our operating FPSOs to
eliminate gas flaring. Low-pressure gas from LP separators
at FPSO in offshore field, currently gets flared as there is
no provision to boost the gas pressure for usage as fuel
gas. The project involves installing Gas compressors to
compress this gas to utilize as fuel gas for Boilers & Gas
Turbine Generators which will also result in a reduction in
the consumption of diesel being used presently for
reduced CO2 emission.

ARS Initiative to reduce Scope- 3 emissions e.g. Equipment Health (remote) Ongoing Environmental
environmental emission and Economize in transportation Monitoring program for – Sustainability Projects &
marine diesel oil consumption change in pack sizes as per GTG & GTC ESG Initiatives
by installing booster requirements, reduction in
compressor to reuse gas flared vehicle movement by better
from LP separator for internal planning.
consumption in boilers.

THE FPSO CONTRACTOR GUIDEBOOK | 24

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THE FPSO CONTRACTOR GUIDEBOOK | 25