The document outlines the classification and regulatory standards for Floating Production Storage and Offloading (FPSO) units as discussed at the Lloyd's Register and IQPC 11th Annual FPSO Congress in 2010. It covers key topics such as new build versus conversion options, design parameters, and rules governing FPSO installations, while emphasizing the importance of engaging with class societies early in the project. The presentation also highlights recent technological advancements and stresses the need for a managed verification scheme to ensure compliance and operational efficiency.