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FPSO Market Valuation worth US$ 66 Bn by 2026

Global FPSO Market – Snapshot Floating production storage and offloading vessels (FPSOs) refers to floating production facility that houses. FPSO is usually constructed on an oil tanker hull, fitted with hydrocarbon processing equipment for processing and treatment of crude oil, gases, and water. The crude oil that is processed arrives on the vessel from sub-sea oil wells through flexible pipelines. Typically, in a FPSO, after processing, oil or gas is stored before it is periodically offloaded to shuttle tankers or transmitted for processing via pipelines. FPSO are used for offshore storage, production, and offloading of oil and gas. Treated crude oil is moved to cargo tanks in the FPSO’s hull. A FPSO unit allows oil companies to produce oil in deeper water and in more remote areas than would have been economically feasible with other technologies such as fixed piled structures. FPSO Market - Snapshot Increasing Investment in Offshore Oil and Gas Exploration Drives the Market

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