GB 388 -- An independent's approach to deepwater development

As the oil industry moves toward greater water depths in search of viable investment opportunities, cost effective, fast track development schemes must be cultivated to overcome the economic obstacles inherent to deepwater field development. While every deepwater development is different and each presents its own unique problems, the dilemma of justifying the costs, minimizing the lead time to first revenue and minimizing the associated risk are common to all projects. The Garden Banks 388 project has successfully utilized the project management concepts, and methodologies presented in this paper to develop a relatively low cost, low risk, fast track approach to deepwater development in the Gulf of Mexico. This paper describes the production system concept, management style and philosophy which have been employed to develop Garden Banks 388. The paper also discusses why the Floating Production System is considered the best alternative for this particular application. Many of the ideas and strategies used in this project can be applied to any project, whether it be deepwater or more conventional types of projects