The Business of
FPSOs, Shuttle Tankers and Peter Lovie

Peter Lovie

Peter Lovie, Senior Advisor Floating Systems, advises multiple operator and contractor clients in the offshore business on technical, business development and commercial assignments.

 The reorganization of Devon Energy Corporation in 2H 2009 included disbanding the Project Support Office where Peter Lovie worked on the planning and project management of deepwater projects. When Devon ultimately exited the offshore business altogether, Peter Lovie was laid off - along with hundreds of others - and started this consulting practice, putting to work what he learned over his years at Devon and before, now for a number of clients.

Since 2006 has served as an information source for the oil and gas industry on how FPSOs and Shuttle Tankers got to where they are today in the US Gulf of Mexico.

 Peter Lovie  PE, PMP, FRINA can be reached at 1.713.419.9164 and

 Contact Peter for speaking engagements.

Upcoming and Recent Activities

August 2016

“Twenty Year Effort Brings Two FPSO Vessels to US GoM”

Journal of Petroleum Technology (2-1/2 page report on the presentation at Rice on 10 June)

View the article

July 22, 2016

Upstream interviews Peter Lovie: “FPSOs – a labor of Lovie”

appeared on their “Head to Head” page dedicated to an individual Upstream feels has done significant things in the industry. Upstream did similar interviews a few weeks earlier with Saudi Arabia’s Oil Minister Khalid al-Falih (24 June) and with US Senator Lisa Murkowski (20 April).

View the article

June 22, 2016

“Unprecedented Idle FPSOs”

Article in Maritime Reporter issue of June 2016, pp. 40-42.

View the article

June 10, 2016

Rice Global E&C Forum: Roundtable:

talk based in large part on “2016 and Two FPSOs in US GoM: the Twenty Year Saga”, the presentation covers:

  • Unrecognized initiatives of operating oil companies on the regulatory process;
  • The real reason for FPSOs being disconnectable in US GoM;
  • Shuttle tanker business in US GoM: $$$, DP. safety, Jones Act;
  • Why it’s about time we amend the Jones Act;
  • Fourfold growth in the world’s FPSO fleet over these 20 years, yet of 218 FPSOs, only 2 are in the US GoM;
  • Outlook as FPSO business faces its worst ever downturn;
  • Closing thoughts.

View the presentation

April 2016

“2016 and Two FPSOs in US GoM: the Twenty Year Saga”

published by Peter Lovie at 10,525 words, 16 figures, 1 graph, 4 tables, freely downloadable

Learn more at

December 2015

“Oil Downturn Gives FPSO Labor Market Pause”

The views of Peter Lovie on the outlook for the FPSO business are quoted in this 5 page article as part of a discussion on how the next few years may go for marine professionals.

View the article

November 2015

“An Independent Look at the Round Hull Concept”

This presentation examines the emergence of the round hull in the contexts of FPSOs in today’s offshore world and for other uses of the round hull concept in modern times and in antiquity. Talks about technology and development of business, history and a little entertainment! Given at ACI’s 7th FPSO Conference in Houston on 4-5 November 2015, 33 slides.

View the presentation

Chairman’s Address

Brief opening remarks at ACI’s 7th FPSO Conference in Houston on 4-5 November 2015: see slides 2, 3 and 4.

View the slides

October 2015

“Noah’s Ark and the new round hulls of the offshore world”

The Royal Institution of Naval Architects in London has published in the 3Q 2015 issue of their Offshore & Marine Technology journal, pp. 10-13 - some thought provoking entertainment.

View the article

May 2015

“FPSO Overruns Present Opportunity for Change”

The Offshore magazine article, pp 108-111 tackles a common phenomenon in FPSO projects which has in a few instances had a serious effect on the survival and financial health of the FPSO lease contractors. In many cases it has given that industry a bum rap where projects did indeed need to overrun for sound field development reasons. It is a sensitive theme with industry leaders now addressing it via better project definition, via FEED, plus growing management attention on both sides of the table, implying the timing for change is good. Ideas for improving matters are mooted in “Closing Thoughts” in this four page download.

View the article

8 April 2015

Peter Lovie disassociated himself from the Advisory Board for the FPSO Forum in Galveston

He had served as Program Chair for the 2012, 2013 and 2014 FPSO Forums.

Nov 2014

FPSO Vessel Conference Presentation

“US GoM FPSOs + Shuttle Tankers: Evolution, Drivers and Outlook”: how we got to where we are in US GoM, outlook and new information on shuttle tankers. Peter Lovie’s presentation was at 5th FPSO Vessel Conference, Active Communications International (ACI), Houston, 31 slides.

View the presentation - Be sure to click on the map in slide 18 to see the 30 second animation and hear the sound effects!

September & October 2014

Harts E&P Series

“TRLs as a Metric in Gauging Progress on Technology and Commerciality”: a two part series by Peter Lovie, James Pappas and Tom Williams in Hart’s E&P, 7 pages.

View the series here

September 2014

Offshore Engineer Interview

“Point by Point: The Business of FPSOs”, an interview of Peter Lovie and two others by Audrey Leon, Managing Editor of Offshore Engineer, pp. 26-29, 30, 32-33.

Read the interview here

23-25 September

FPSO Global Forum in Galveston, Texas

As in 2012 and 2013, Peter Lovie serves as Program Chair and as one of the Session Moderators.

Learn more at

April 2014

Adam Smith, Kenny Rogers and the Commerciality of Offshore Technologies

SNAME’s Marine Technology published their version of the article.

See the original unedited version here

28 March 2014

RPSEA and its offloading project

The Final Report on RPSEA project 10121-4407-01 “Deepwater Direct Offloading Systems” was signed on 8Oct13 and published by RPSEA on 28Mar14, is now in the public domain for anyone to download the 330 page (5.2 MB) Final Report, and 292 pages (3.5MB) of Appendices, all at .Peter Lovie served as Principal Investigator for RPSEA on this project during 2012-2013.

29&30 October 2013

RPSEA’s Ultra Deepwater Technology Conference

Peter Lovie was invited to comment on the Final Report Presentation delivered by RPSEA on their Project 10121-4407-01 Deepwater Direct Offloading Systems. This eight page paper on “Conclusions and Discussion” includes his technical and commercial observations from his responsibilities as Principal Investigator on the project.

- View the presentation "Conclusions and Discussion for Final Report Presentation"

26 September 2013

Economics, Performance - Four Options for US GoM Offloading

Presentation on “Economics, Performance - Four Options for US GoM Offloading” given at the Third Annual Emerging FPSO Forum in Galveston on 26 September 2013. It relates 2007-2008 work at Devon Energy that was reported in DOT 09 with work in a recently completed RPSEA project, funded via US Department of Energy, on offloading in GoM.

- View the presentation “Economics, Performance - Four Options for US GoM Offloading”

24&26 September 2013

Third Annual Emerging FPSO Forum

Peter played a lead role in establishing the program for the Third Annual Emerging FPSO Forum in Galveston. He moderates the opening session on “State of the Business” and in the session on “FPSO Offloading in GoM” he presents on “Economics, Performance - Four Options”.

- Read more here

17&18 October 2012

ACI’s 2nd Annual FPSO Vessel Conference

Two FPSO conferences were in the Houston area three weeks apart - an unusual phenomenon ! Peter Lovie was at both and spoke at the event by ACI. R

View the presentation "Developments in the Ultra-Deep waters of the U.S. Gulf of Mexico"

Read his “Anecdotes at an FPSO Conference” on FPSO business trends underway. website

26-27 September 2012

Offshore Engineer’s Second Annual Emerging FPSO Forum

Peter moderated two sessions at this event in Galveston. The first was on offloading for US GoM. His second session was on round FPSOs, a shoot out on the different round FPSO designs on the market: read the lop sided vote by the FPSO community that was there, on ship shape FPSOs versus the round FPSO designs from Sevan, SSP and Deepwater Structures.

March 2012

Start of Operation for first FPSO in US GoM Announced in Houston Chronicle

View Article

25 January 2012

"Impact of Logistics of FPSO Production on Markets", Argus Americas Crude Summit - Shifting Import Dynamics, Houston, 25-27 January 2012, 29 slides.

View Presentation  | View Animation

01 December 2011

"At Last, an FPSO in US GoM!", Marine Technology Society, Houston, 27 Slides.

View Presentation

22-23 November 2011

"What's Next for FPSOs in US GoM?", IBC Energy, 26th Annual FPSO Conference, London, 27 slides.

19 November 2011

"Tankers V. Pipelines in Ultra Deep GoM", International Offshore Pipeline Forum, organized by ASME, 21 slides.

21-22 September 2011

"Why so Long for an FPSO in US GoM?", Emerging FPSO Forum, Galveston, 18 slides.

Learn more

1 August 2011

"FPSO Tales of the Unexpected", Offshore Engineer, August 2011, pp. 20-21.

Read the article

1 February 2011

"Spec Build FPSOs Dangerously Risky", Offshore Engineer, February 2011, pp. 24-25.

Read the article

10 January 2011

Spec FPSOs prove too risky

Lovie quoted in Oil & Gas Journal article. Selected comments from the Contractors' Panel at IBC's 25th annual FPSO conference on 14 Dec10 in London.

Read the article

17 December 2010

"Lack of FPSOs in US Gulf Limits Appeal of Shuttle Tankers", Lloyds List. 17 December 2010, 1 page.

Read the article

14 December 2010

Lovie at Global Floating Production Systems 2010

The premier event for the FPS sector, Global FPS 2010 will focus on market trends, commercial drivers and the technical challenges of developing offshore oil production and associated gas.

Titanic, Challenger and now Macondo: mankind learns from disasters but the outlook for FPSOs in US GoM?

Remarks from Contractor Panel

18 May 2010

"The First FPSO in US GoM: the Fourteen Year Journey", Society of Petroleum Engineers, Projects, Facilities & Construction Group, presentation at lunch meeting, Houston, 18 May 2010, 28 slides.

1 May 2010

"The First FPSO in US GoM: the Fourteen Year Journey", Journal of Petroleum Technology, May 2010, part 2 of 2, pp. 32-35.

View the article

1 April 2010

"The First FPSO in US GoM: the Fourteen Year Journey", Journal of Petroleum Technology, April 2010, part 1 of 2, pp. 36-39.

View the article

2-3 December 2009

Lovie speaks at 2009 Global FPS conference

View Agenda

29-30 September 2009

Lovie Speaks At Annual FPSO Congress

FPSO congress

- Learn more about this event

7 July 2009

Presentation at Energy Week at Tulane

Three Case Histories on the Risks, Timing, Business & Regulatory Impacts on Acceptance of New Technologies in the US Gulf of Mexico.