Financial resilience analysis of floating production, storage and offloading plant operated in Norwegian Arctic region: Case study using inter-/transdisciplinary system dynamics modeling and simulation

Konrad W. Eichhorn Colombo

Energy, 2023, vol. 268, issue C

Abstract: The financial resilience of a Floating Production, Storage and Offloading (FPSO) plant is investigated through a hybrid modeling approach. With linked sub-models for economics, reliability and process safety, simulation results of the underlying transient nonlinear phenomena are shown, which represent the complex behavior of operation of the FPSO. The economics model is based on the Norwegian tax system with net cash flow as the main quantity. In the reliability model, statistical methods are used to obtain probability density functions for individual topside and subsea components. The safety model is centered around EHS11Environment, health, safety. time, in which a sufficiently high skill level is aimed to be maintained. Ample emphasis is given to parsimonious modeling, in which various engineering concepts are used in a way which avoids visual pollution.

Keywords: System dynamics; Reliability; Mathematical modeling and simulation; Arctic; Floating Production, Storage and Offloading (FPSO) plant; Case study (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:268:y:2023:i:c:s0360544222034806

DOI: 10.1016/j.energy.2022.126593

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