Why Only Two FPSOs in U.S. Gulf of Mexico? : The Late Start and Twenty Year Saga

More than 40 years have passed since the trailblazing Shell Castellon started operation as the first floating production storage and offloading (FPSO) unit in 1977. Ever since hundreds of these vessels have operated worldwide, and the oil industry has reaped their benefits. Despite continued international popularity and dominance, compelling advantages, and technological advancements, the adoption of FPSOs has faced a unique combination of challenges in the U.S. Gulf of Mexico, where there are now only two FPSOs despite it being the birthplace of offshore 70+ years ago. Peter Lovie traces the turbulent history of FPSOs in the U.S. Gulf of Mexico, examining with key insight the tumultuous events which have unfolded over the years: ambitious ventures, regulatory upheavals, the 2005 hurricanes which ravaged the oil industry, and more! With his vantage point as an industry insider, Lovie weaves a ?hands-on? background to the current state of the oil industry.