FPSO definition

FPSO means a floating production, storage and offloading system used by the offshore oil and gas industry for the production or processing of hydrocarbons and for storage of hydrocarbons. FSOs and FLNGs are included within this definition. The determination as to whether a particular property constitutes an FPSO shall be at the sole determination of the Underwriter.

FPSO means a floating production, storage and offloading vessel.

FPSO means floating production, storage and off-take vessel.

Examples of FPSO in a sentence

• Price of the Brent crude oil benchmark at approximately the time of a scheduled offtake from the Anasuria FPSO and LCOT.

• Revenues under service agreements and/or lease arrangements are recognised when the FPSO is made available to the lessee and the fee is due in accordance with the lease contract.

• An FPSO is a type of floating production unit used by oil companies to produce, process, store and offload hydrocarbons from offshore fields.

• FPSO and SPM projects are being managed from the initial design and engineering phase to final installation.

• Revenues are earned from day rates consisting of a fixed facility fee and a compensation for operating the FPSO pursuant to leases with oil companies, supplemented from time to time with fees based on volumes of produced barrels of oil.

More Definitions of FPSO

FPSO means floating production storage and offloading vessel;

FPSO means a Floating Production Storage Offloading Vessel usually engaged At Sea, whether propelled or non-propelled, and which may be disconnectable or permanently fixed to a mooring riser and which is used to recover, receive, process, store or despatch hydrocarbons to a shuttle tanker.

FPSO means floating production, storage and off-loading units;

FPSO means floating production storage and offloading unit;

FPSO means floating production storage and offloading platform with all the necessary facilities and services to collect, process, measure, store and transfer liquid hydrocarbons to a Shuttle Tanker.

FPSO means Floating Production Storage Offloading. aa) “FSO” means Floating Storage & Offloading.

FPSO means floating production storage and offloading vessel; "GBA" means gas balancing agreement;