Floating Installation

An offshore facility designed to provide hydrocarbon processing and/or hydrocarbon storage and offloading hydrocarbons. The term includes Tension Leg Platforms, Spar Buoy, Permanently Moored Shipshape Hulls and Semisubmersibles. A Floating Installation consists of the following major elements: Floating Installation Vessel, Position Mooring System, and Production Facilities, Import/export system.

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