FPSOs (Floating Production Storage and Offloading vessels) are increasingly being used for deepwater and ultra-deepwater oil and gas exploration and production. FPSOs can be moored in shallow, deep, and ultra-deep waters, making them suitable for areas that fixed platforms cannot access. They are also mobile, which allows them to be disconnected and moved to safer locations if needed. While FPSO projects require large investments and long timelines, rising oil prices in recent years have made these projects more attractive to investors. However, contractual issues around FPSO projects can be complex, as various subcontracts are involved, and risks related to delays, damages, and liabilities must be carefully addressed.