Steel cut ceremony for cutting-edge Fast4Ward project

SBM Offshore announces that the first steel cut for the hull of its standardized Fast4Ward FPSO took place at the SWS yard in Shanghai, China on Friday March 23, 2018.

“As our concept becomes reality, we demonstrate our commitment to this game-changing project that provides further predictability and added value for our clients. We are happy with the progress on our cost-effective solution for future FPSO projects. In an industry that more than ever needs performance in a lower-for-longer oil price environment, SBM Offshore brings a competitive edge to the table with Fast4Ward,” says Bernard van Leggelo, SBM Offshore China Managing Director.

Having delivered 34 FPSOs to date, combined with over 300 years cumulative experience in operating its lease fleet, SBM Offshore is capitalizing on this experience through its standardization Fast4Ward program. SBM Offshore has a proven track record of FPSO deliveries and reliable, consistent uptime.

Editor’s notes:

• In August 2017 SBM Offshore announced that it was moving forward with its Fast4Ward project (on speculation) with a contract for its first new-build, multi-purpose hull with China Shipbuilding Trading Company, Ltd. (“CSTC”) and the shipyard of Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (“SWS”).
• In May 2016 at OTC Houston SBM Offshore launched its standardized FPSO concept Fast4Ward to the market. The design for the Fast4Ward FPSO is called ‘Generation 4’, the next step in the company’s series of Generation FPSOs.
• Fast4Ward leverages SBM Offshore’s experience to deliver a new market-driven business model solution.
• Fast4Ward offers more than buzz words – it offers a solid solution for lower cost, faster schedule on the critical path, predictability and standardization. It can enhance project Net Present Value (NPV) and ensure that project economics are met.
• SBM Offshore’s leading operating experience feeds into its engineering designs. Fast4Ward optimizes an FPSO design, creating standard specifications and enhancing reliability bringing costs down further. It accelerates delivery by up to 12 months, improves quality and productivity, on a de-risked, more reliable plan with a higher degree of safety.
• The construction scope relating to the generic hull which, together with standardized topsides, forms the basis of the Fast4Ward concept.