Nautical Term: FPSO
Definition of FPSO
Animated vessel engineered for offshore oil production, storage, and offloading. often abbreviated as FPSO. These vessels are typically moored in deep waters and use their own power and equipment to extract crude oil, store it in onboard tanks, and then transfer it to tankers for transportation to refineries.
For example, the FPSO Cidade de Angra is located in the Iracema oil field, in the Campos Basin, off the coast of Rio de Janeiro, Brazil. This FPSO was built to extract and process 120,000 barrels of oil per year, and it has been in operation since 2003.
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