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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (64917)	4/18/2000 11:01:00 PM
From: Razorbak	Read Replies (1) \| Respond to of 95453

Deepwater Development Options John: I was thinking of TLP's and SPARS when I mentioned platforms. I was using the layman's definition of a typical platform (i.e., jacket and deck). Regarding the relative advantages of subsea production systems and Floating Production Storage & Offshore (FPSO) loading systems, both have been successfully implemented in the North Sea. Whatever the US government allows will ultimately be built, as long as the designs are cost effective. Nevertheless, design technology keeps changing, especially at the leading edge. Witness the dramatic difference in design philosophy and development costs between the Hibernia facility and the Terra Nova facility in the Grand Banks offshore Newfoundland, Canada. Hibernia, circa 1997, is a fixed, Gravity-Based Structure (GBS), designed to remain in place and withstand the impact of a one-million tonne iceberg... hibernia.ca Terra Nova, circa 2001, is a movable, FPSO facility, designed to be disconnected and moved to avoid impact by an iceberg... terranovaproject.com These two projects are practically next door to each other, and both are subject to the same threat of iceberg impact. The main difference between the two projects is that Hibernia was designed several years earlier than Terra Nova, before the FPSO technology was fully developed and commercially acceptable. Naturally, Terra Nova was much cheaper to develop than Hibernia because of the dramatic difference in design philosophies. In fact, the Hibernia field development was almost scrapped on several occasions due to the outrageously high development costs. Razor