Annual Report 2010 - SBM Offshore

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Top: SBM Services repairing the Soft Yoke turret mooring on the Shell EA Sea Eagle with the Normand Installer Bottom: FPSO P-57 at anchorage in Brazil Report of the Board of Management SBM Offshore – Annual Report 2010 67
Report of the Board of Management Product and Technology Development Introduction SBM Offshore is committed to innovation through continuous investment in product and technology development. The Company’s focus is on the constant development of existing products, as well as research and development for new products. As a result, the Company continues to seek opportunities for diversification into areas of offshore LNG production, as well as renewable energy. Research and Development expenditure amounted to US$ 30 million in 2010, part of which is capitalised within intangible assets. Activity was focused on deepwater systems, floating production of LNG (FLNG), jack-up and crane technologies and renewable energy systems. Deepwater Systems The Company’s product line continues to expand with comprehensive solutions for the development of deep and ultra-deep water offshore oil and gas fields. The deepwater challenges are both technical (to overcome the significant challenges of ultra-deep water production) and commercial (to make such technology economically viable for our clients). Some of the on going development projects are described below. Dry-tree semi-submersible and TLP designs For certain reservoirs, including those requiring frequent well access, surface-located wellheads and Xmas Trees can offer significant advantages over subsea Xmas Trees. The Company has already developed systems which support surface tree systems, such as TLP platforms, and continues to expand the range of products capable of supporting these. The Company has developed an alternative solution 68 SBM Offshore – Annual Report 2010 for non-hurricane, deepwater environments based on a semi-submersible design with long-stroke hydraulic tensioners to support the top-tensioned production risers and surface trees. The hull design has been specifically developed in order to reduce motions to an acceptable level, while providing sufficient stability for quayside integration of the topsides. SBM Offshore’s Tension Leg Platforms (TLPs) already support surface trees and development work focuses on extending the allowable water depth limits for this product. A passive air-dampening system has been developed to dampen the heave motions caused by the longer tendons in ultra-deep water. Computational Fluid Dynamics (CFD) analysis and model tests have been performed to confirm the feasibility of the system. Both the semi-submersible and the TLP can also be used with subsea trees, using either Steel Catenary Risers (SCRs) or unbonded flexible risers to connect to the seabed wells. Engineering work continues to allow the application of these technologies in deeper water. Mooring Systems and Swivels The Company continues to be the global leader in the supply of complex mooring systems for deep water and harsh environments, and is currently working on several very challenging projects for turret systems in the Northern Atlantic and Barents Sea. A complex, disconnectable mooring system has been developed for use in arctic conditions to allow the vessel to move away from the field in case of threat from severe ice conditions or icebergs. This system, which is a further development of the disconnectable systems supplied previously by the Company, was successfully model-tested in 2009. The Company is currently working on a paid Front-End Engineering and Design (FEED) study and tender jointly with other contractors for a disconnectable FPU in arctic conditions. Ultra-deepwater FPSOs in hurricane-prone regions, such as the Gulf of Mexico, face a specific challenge related to the combined need for steel catenary risers and a disconnectable mooring system to allow them to evade extreme storm events. For these SCR applications, the steel riser weight must be supported
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Annual Report 2010
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Financial Review / Financial Statem
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1 2 Overview 11 Message from the CE
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Semi-Submersible Drilling Rig Tensi
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Deck view of the FPSO Espirito Sant
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I am pleased to report that the Com
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In addition to these main centres,
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Highlights 2010 Financial • Turno
Page 18 and 19: Shareholders As the shares are bein
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Page 22 and 23: Lease and Operate The lease and ope
Page 24 and 25: World Map of SBM Offshore Project E
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Page 50 and 51: Introduction The relatively high oi
Page 52 and 53: Turnkey Systems A major highlight o
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Page 62 and 63: contract will be based on a product
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Page 70 and 71: y a large buoyant structure when di
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Annual Report 2010 - SBM Offshore

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