David Knott Senior Editor Floating production system (FPS) technology has come of age in the North Sea. That's apparent in plans to use FPSs to tap two of Northwest Europe's largest offshore oil discoveries in the last 10 years. First North Sea oil production with a floater involved a converted semisubmersible drilling rig. Floaters have been in use for small field development projects ever since. Now, industry's rising interest in FPSs reflects two trends: As the North Sea matures, discoveries are likely to be in deeper, more remote locations. Operators increasingly are under pres...

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