The current low oil price environment demands innovative solutions in offshore oil & gas field development. This is especially true for deepwater marginal field development. A new concept light weight Semi-submersible floating production system (FPS) named as QX-Semi FPS has been developed for deepwater South China Sea. In this paper, the design philosophy and key features of this light weight Semi-submersible FPS are described and a FEED level design of the hull structure is presented. With an operating displacement less than 30,000MT, this multifunctional Semi FPS is designed for drilling/work-over, subsea tie-back, production, and accommodation in water depth ranging from 300m to 1000m. Compared with a conventional Semi FPS, the QX-Semi FPS is of excellent hydrodynamic performance, high variable deck load capacity, light deck structural weight and low fabrication cost due to its unique design features such as standard circular triple column configuration, webfoot pontoons, Y-shaped deck and efficient hull structures. Detailed naval and structural analyses were performed. The results show that the QX-Semi design meets all the requirements stipulated by international codes and standards. An economic analysis shows that the QX-Semi FPS can achieve more than 14% savings for an EPCI project compared with a conventional Semi FPS.

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