Offshore engineering consultancy Intecsea has launched a new range of floater concepts that it claims could slash offshore field development costs by up to $1.2 billion per
crane has designed a new range of floater concepts that could reduce offshore field development costs by between $ 500 m to $ 1000 per year . The offshore engineering consultancy , an affiliate of Australian contractor WorleyParsons , said the low - motion designs would be particularly useful in extreme deepwater , harsh offshore and remote drilling schemes . The concepts include LM - FPSO , for floating storage , storage and offloading units ; LM - FLNG , for liquefied natural gas , and LM - SEMI , for semi - submersible units . All designs are suitable for use in shallow and deep water , with LM - FPSO able to work at depths of over 3,000 metres .