Project Controls International

FPSO and Topsides

West African Costs

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Notes: FPSO costs are highly variable and particular project conditions must be carefully considered, such as the scope of work in question (e.g. full engineering, procurement and construction – EPC, fabrication only, new build or conversion, etc.) and its complexity as well as the actual fabrication site(s) as project can very likely be fabricated in multiple overseas shipyards/ fabrication yards. Other important factors to consider are the particular in-country local content laws which can definitely have a substantial cost impact and post award agreed project changes/ variations which can affect significantly final project cost.

 

Awarded contract values below have been normalized per the Producer Price Index - Total Manufacturing Industries (published by the U.S. Bureau of Labor Statistics):

 

 

FPSO Topsides Costs

 

Girassol FPSO – topsides only, Angola by MPG venture

Weight of 25,000 tonnes, $520 million, award 1998/ completed 2001, cost per tonne = $20,800/ tonne, normalized (2011) cost per tonne = $30,000/ tonne.

 

Dalia FPSO – topsides only, Angola by Technip

Weight of 22,000 tonnes, $640 million, award 2003, cost per tonne = $29,091/ tonne, normalized (2011) cost per tonne = $39,000/ tonne.

 

 

FPSO Hull, Topsides and Appurtenances Costs

 

Plutonio FPSO, Angola by HHI

Weight 80,000 tonnes, $350 million, award 2004, cost per tonne = $4,375/ tonne, normalized (2011) cost per tonne = $6,000/ tonne.

 

Akpo FPSO, Angola by Daewoo,

Weight of 90,718 tonnes, $1.08 billion, award 2005, cost per tonne = $11,905/ tonne, normalized (2011) cost per tonne = $15,000/ tonne.

 

Pazflor FPSO, Angola by Daewoo

Weight of 120,000 tonnes, $2.32 billion, award 2007, cost per tonne = $19,333/ tonne, normalized (2011) cost per tonne = $22,000/ tonne.

 

USAN FPSO, Nigeria by HHI

Weight of 116,000 tonnes, $1.6 billion, award 2008, cost per tonne = $13,793/ tonne, normalized (2011) cost per tonne = $15,000/ tonne.

 

Goliat FPSO, Norway by HHI

Weight of 52,000 tonnes, $1.1 billion, award 2010, cost per tonne = $21,154/ tonne, normalized (2011) cost per tonne = $22,000/ tonne.

 

 

Additional notes:

- For details as to how the local content law can affect costs check out The Cost Impact to the Oil and Gas Industry and Benefits to the Nigerian Economy.

- Additional cost information on Offshore Oil and Gas construction costs can be found here: Offshore Oil and Gas Fabrication Costs.

- For escalation tables see Construction and Fabrication Escalation.

- All data above disclosed has been collected through various public data sources.

 

 

 

 

 

 

 

FPSO and FPSO Topsides Costs

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A necessary document to support and explain the cost estimate: How did you arrive at that number?

Basis of Estimate
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Selected Articles

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Meetings

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Funny, but true. Video on the functions of Project Controls.

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Selected Articles

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