Spec FPSOs prove too risky

Paula dittrickSenior Staff WriterThe offshore oil and gas industry has long envisioned floating production, storage, and offloading vessels (FPSOs) working on deepwater Gulf of Mexico oil fields. This still has yet to happen, although Petrobras America Inc. stands ready to use an FPSO in the gulf.BW Offshore installed the FPSO BW Pioneer to handle production from Cascade and Chinook fields in the Walker Ridge area 180 miles off Louisiana. Production was expected in early 2011. BW Offshore will operate the FPSO for Cascade-Chinook development operator Petrobras and partner Total E&P USA Inc. Shuttle tankers will transport the oil. The BW Pioneer is moored in 853 ft of water.FPSO owners...

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