Floating Production Storage and Offloading (FPSO)

http://offshorecrews.com/how-the-stuff-work/floating-production-storage-and-offloading-fpso

FPSO used in offshore production since the 1970s, FPSOs have been historically utilized in the North Sea, offshore Brazil, Asia Pacific, the Mediterranean Sea and offshore West Africa. 

A Floating Production Storage and Offloading (FPSO) installation is a floating facility, usually based on a (converted) oil tanker hull. It is equipped with hydrocarbon processing equipment for separation and treatment of crude oil, water and gases, arriving on board from sub-sea oil wells via flexible pipelines.  

FPSOs are effective development solutions for both deepwater and ultra-deepwater fields. A central mooring system allows the vessel to rotate freely to best respond to weather conditions, or weathervane, while spread-mooring systems anchor the vessel from various locations on the seafloor.

The FPSO concept allows oil companies to produce oil in more remote areas and in deeper water than would have been economically possible with other technology, like fixed piled structures. Furthermore, it has storage capacity for the treated crude oil produced and is equipped with an offloading system to transfer the crude oil to shuttle tankers for shipment to refineries, rather than requiring a pipeline to transport oil to shore.

Besides FPSOs, similar floating systems include Floating Storage and Offloading systems (FSOs), Floating Production Systems (FPSs) and Floating Storage Units (FSUs). Additionally, the world's first FDPSO, or Floating Drilling Production Storage and Offloading vessel, was developed in 2009 for Murphy Oil's Azurite field offshore Republic of Congo. This Azurite FDPSO incorporates deepwater drilling equipment that will help to develop the field and can be removed and reused after all the Azurite production wells have been drilled. Furthermore, the world's first FLNG or Floating Liquid Natural Gas vessel is currently being developed.