A floating production, storage and offloading (FPSO) unit is a floating vessel used by the offshore industry

Oil platform

An oil platform, also referred to as an offshore platform or, somewhat incorrectly, oil rig, is a lаrge structure with facilities to drill wells, to extract and process oil and natural gas, and to temporarily store product until it can be brought to shore for refining and marketing...

 for the processing of hydrocarbons

Hydrocarbon

In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons from which one hydrogen atom has been removed are functional groups, called hydrocarbyls....

 and for storage of oil. A FPSO vessel is designed to receive hydrocarbons produced from nearby platforms

Oil platform

An oil platform, also referred to as an offshore platform or, somewhat incorrectly, oil rig, is a lаrge structure with facilities to drill wells, to extract and process oil and natural gas, and to temporarily store product until it can be brought to shore for refining and marketing...

 or subsea

Subsea

Subsea is a general term frequently used to refer to equipment, technology, and methods employed in marine biology, undersea geology, offshore oil and gas developments, underwater mining, and offshore wind power industries.- Oil and gas :...

 template, process them, and store oil until it can be offloaded onto a tanker

Tanker (ship)

A tanker is a ship designed to transport liquids in bulk. Major types of tankship include the oil tanker, the chemical tanker, and the liquefied natural gas carrier.-Background:...

 or transported through a pipeline

Pipe (material)

A pipe is a tubular section or hollow cylinder, usually but not necessarily of circular cross-section, used mainly to convey substances which can flow — liquids and gases , slurries, powders, masses of small solids...

. FPSOs are preferred in frontier offshore regions as they are easy to install, and do not require a local pipeline infrastructure to export oil.