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Subsea systems consist of mechanical, hydraulic, electrical and structural components; usually packaged by a subsea vendor. The cost of a subsea development is partly due to the cost of this complex equipment, but in very deep waters the cost of installation and commissioning can be overriding. Large subsea systems can weigh up to several hundred tons, and they can only be lowered to the seafloor using dynamically positioned derrick vessels. There are only a few of these vessels in the world, and they can cost hundreds of thousands of dollars per day.

1 Field Development Parameters The parameters that influence the development of a new field are the characteristics of a reservoir, the requirements for drilling, production and export of oil and gas, site and environment as well as design rules and regulations. These topics are discussed in the following sections. 1 Reservoir Characteristics and Modelling It is possible to approximately define the reservoir size, its configuration and recoverable reserves by utilising all the available seismic data (in 2D, 3D and 4D) and a sophisticated reservoir model.

Deepwater markets and gamechanger technologies”, Presented at Deep Offshore Technology 2003 Conference. corn. Handbook of Offshore Engineering S . ) C 2005 Elsevier Ltd. 1 Introduction Offshore structures differ from onshore structures both in terms of their pre-service and in-service characteristics. Offshore structure components are fabricated and assembled onshore. transported to an offshore site and then installed. Thus, construction methods. material specifications and the acceptable construction tolerances applicable to offshore structures substantially differ from those applicable to onshore structures.

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