2018 Offshore Technology Yearbook

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Page 42 of 55 | December 2017 | 41 FIXED AND FLOATING SYSTEMS | 2018 OFFSHORE TECHNOLOGY YEARBOOK Other floater types bounce back Developments in the FPSO sector introduce a wel - come note of optimism to the fixed and floating asset market, and there is some good news from other segments of the sector as well. In April, the world's largest semisubmersible plat- form to date, the Ichthys Explorer, was delivered for the Ichthys Field in the Browse Basin. About 135 miles offshore Western Australia, Ichthys is the largest hydrocarbon dis- covery in Australia in 40 years. The semi, which was built at the Samsung Heavy Industries (SHI) shipyard in South Korea, was towed approximately 3,730 miles to the field, where it is permanently moored onsite. Production is expected by March 2018. The only newbuild semisubmersible award this year came from BP. In January, the supermajor contracted SHI in Korea to build a semisubmersible for Mad Dog Phase 2, the US$9 billion project sanctioned in December 2016. The new semi will be moored approx- imately 6 miles southwest of the existing Mad Dog platform, which lies in 4,500 ft water depth on the Green Canyon Block in the Gulf of Mexico (GoM) about 190 miles south of New Orleans. Discovered in 1998 and beginning production in 2005, Mad Dog is BP's biggest discovery in the GoM. The newbuild semi will be moored in 4,440 ft of water in Green Canyon Block 780. This announcement had been anxiously anticipated. BP spent two years revising its development concept for Mad Dog 2, reduc- ing the overall project cost by 60%, a neces- sity for this deepwater development in the present market. BP Group Chief Executive Bob Dudley said in an official statement that progress- ing Mad Dog 2 "shows that big deepwater projects can still be economic in a low-price environment in the U.S. if they are designed in a smart and cost-effective way." The other semisubmersible of note this year is the Appomattox, the largest semi ever built by Shell. The hull left South Korea in August conveyed by COSCO's heavy transport vessel Xin Guang Hua on its way to Ingleside, Texas, where the topsides will be added and construction completed. The Appomattox Field is 80 miles offshore Louisiana in the GoM, in approximately 7,200 ft water depth. The semi initially will produce from the Appomattox and Vicksburg fields, with average peak production 0% 4% 8% 12% 16% 20% 0 50 100 150 200 250 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 No. of Units % y-o-y Forecast Fleet, end year (LHS) % y-o-y change (RHS) Based on end year data Incl. FLNG FPSO Fleet Development The FPSO/FLNG fleet is continuing to grow. (Source: Clarksons Research) In April, the world's largest semisubmersible platform to date, the Ichthys Explorer, was delivered for the Ichthys Field in the Browse Basin. This field is the largest hydrocarbon discovery in Australia in 40 years. (Photo courtesy of INPEX Corp.)

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