Offshore Floating Production: Legal and Commercial Risk Management
About this ebook
Floating production projects are a popular method of achieving offshore oil and gas production, utilising vessels sitting over the offshore reservoir, receiving well fluids which are then processed, stored and offloaded to tankers. They operate in deep water, harsh conditions and marginal fields, and may be redeployed once the reservoir is depleted. There are numerous legal issues which arise in the context of floating production due to its specific characteristics, presenting a unique combination of challenges with the attendant risks and potential liabilities. This book analyses these risks and liabilities and considers how they may be allocated between the parties, how the consequences are avoided or mitigated and how disputes are in practice resolved. It illustrates these issues and competing legal arguments by focusing on each stage of the relationship between the oil and gas company and a specialist floating production contractor.
The book will be of special interest to project managers and in-house lawyers at oil companies, offshore contractors, design consultants, construction companies, suppliers, vessel operators, banks, insurers and investors. It will also be of particular use to private practice lawyers in all jurisdictions where these projects occur; because contracts used in this industry are often written under English law,and contracts which are governed by local law follow a similar pattern.
About the author
Stuart Beadnall is one of the UK's leading legal experts in the offshore oil and gas industry. His experience includes construction, installation and operation of fixed and floating platforms, LNG charters, drilling contracts and offtake agreements. He has worked on over 70 floating production projects, including innovative FPSOs whilst working at BHP Petroleum, and as a partner at Stephenson Harwood, new developments in the North Sea, West Africa, Brazil, Indonesia and Australia, including FLNG.
Simon Moore is a leading specialist in offshore energy law. He has extensive experience of offshore floating production projects worldwide. Simon has also advised on numerous high value arbitrations (ICC, LCIA, LMAA and ad hoc) arising out of construction and conversion projects for FPSOs and is a specialist in handling disputes concerning design risk, delay, disruption, force majeure, indemnities and performance warranties.
Max Lemanski is a partner at Stephenson Harwood, specialising in shipping and offshore energy. He co-leads the firm's market-leading FPSO team advising on floating production projects all around the world. In disputes, his cases include complex, high-value FPSO claims in the English High Court and LMAA, ICC and LCIA arbitrations concerning detailed technical analysis, variations, delay and prolongation, hire adjustment clauses, production problems and termination. He is also an expert in the decarbonisation of the offshore energy sector.
