For Immediate Release
Oct 21, 2018
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ABS Media Relations
(Busan) ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Standardized design for a Floating Production Storage and Offloading (FPSO) facility.
Initially intended for operations in West Africa, HHI advises its standardized topside design is adaptive to a range of conditions, potentially offering reduced costs and shorter project timelines.
“ABS is the world leader in Offshore and in FPSO classification. We have worked closely with HHI, using our experience in the sector to support the development of this innovative concept, which has the potential to streamline the project development life cycle,” said Luiz Feijo, ABS Director, Global Offshore.
“In the current market, HHI’s standardized topside design, requested by our operators, potentially provides more affordable CAPEX with shorter project schedules—and more secure systems reliability & safety with ABS certificates, based on the stringent evaluation process,” said Seon Mook Lim, Senior Vice President, Offshore Division at HHI. “Further, this newly developed product provides great value, helping to protect profitability form engineering, procurement and construction project risks, and enabling modification to various upstream conditions of West African oil and gas fields with minimal design changes.”
HHI’s FPSO Topside Facilities Design as approved stands in accordance with the ABS 2017 Guidance Notes on Review and Approval of Novel Concepts and considers that the conceptual engineering as proposed complies with the intent of the applicable rules and standards.
ABS has been helping to enable safe offshore energy production since the earliest days of operations. In 1975, ABS provided classification services for the offshore industry’s inaugural FPSO and classed the first floating production, storage and offloading unit in 1978. Today, ABS is still the world leader in mobile offshore production unit classification.
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.