GLOSSARY: Floating production storage and offloading (FPSO)

At its core, an FPSO facilitates the processing and storage of oil and gas at sea.  

It stands for floating production storage and offloading (FPSO). These vessels are used extensively by the offshore industry and have become one of the primary methods of oil and gas processing and storage. As its name suggests, an FPSO is a floating vessel that acts as a mobile offshore production and storage facility. They are typically employed and leased by oil and gas companies.