Floating Production Units in the Digital Era: Applying Digital Approaches to Drive Operational Efficiencies

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The volatility of oil prices continues to push owners and operators to prioritize strategies that reduce operating expenditures, improve efficiencies and minimize business disruption. These business goals are catalysts for innovation, forcing stakeholders to think differently about driving performance with safe and sustainable offshore operations. Application of digital technologies has been the norm in other industries and continues to evolve in the offshore world, including floating production units. Technology advancements such as remote inspection techniques, sensor technology, and data analytics are driving new levels of reliability that enable better decision-making and improve asset performance. By leveraging data science and digital technologies, including the development of a digital twin, we can provide deeper insights into asset condition to optimize inspection activities, reduce downtime and operational costs, and transition to a condition-based classification model. This paper will highlight key technologies and solutions that integrate operational needs with digital insight to optimize efficiencies for offshore floating production units.