(THE IOC MFPV IS COVERED UNDER PATENT APPLICATION No.: 61942227)

The MFVP reduces capital and operating costs enables production of marginal fields. It is a cost effective and flexible solution where the Operator does not tie up their Capex in a permanent very complex produciotn facility to move.

The objective of IOC when designing the MFPV has been to:

  • Supply a mobile, easy to relocate Production Unit for shallow and deep water
  • Deliver a temporary storage and low-cost subsea tie back solution (or permanent)
  • Assure Flexibility – The MFPV offers modular design options that can be used to satisfy known and un-known conditions
  • Verify production capacity of field prior to investing in a +$500M-$1B FPSO and assure optimized design of such
  • Enable early cash flow
  • Make it possible for smaller operators (with less funds) to produce oil & gas offshore