The benefits of a pioneering mooring and fluid transfer system for oil and gas production vessels will be highlighted at ONS 2010, one of the largest energy exhibitions in the world.

Sigma Offshore has invested more than £5m ($7.75m) in developing its Smart Mooring System (SMS), a cost-efficient external turret with unlimited weathervaning for vessels such as FPSOs (Floating Production Storage and Offloading).

The company will be exhibiting at the Scottish pavilion on stand 1018 in Hall J at ONS in Stavanger, Norway (August 24-27).

Sigma Offshore President and Chief Executive Officer Alistair Dornan, who will be attending the event, predicts there will be an increasing demand for SMS as development companies wish to minimise costs. There are nearly 180 projects currently in the bidding, design or planning stage that potentially require a floating production or storage system. This is a substantial increase since 2009.

Speaking from Sigma Offshore’s stand at ONS, Mr Dornan said: “In global terms, Norway is a major player in the moorings and FPSO industry and therefore ONS presents Sigma Offshore with the ideal opportunity to demonstrate the benefits of SMS to a knowledgeable and influential audience.

“The flexibility SMS offers, from full-scale projects to extended well testing to mitigate risk, means it will be attractive in a market place where cost and flexibility are key factors.”

David Galbraith, Sigma Offshore’s Chief Technology Officer, said: "The combination of the full weathervaning capability coupled with the ease of disconnecting an FPSO from the mooring lines and risers makes the SMS particularly suited to those parts of the world where severe weather conditions are a factor.”

Sigma Offshore has secured a Canadian patent for SMS, following on from the US patent it acquired last month. The company has also been notified that a European patent is to be granted.

SMS is suitable for a variety of marine applications including floating storage, floating LNG (liquefied natural gas) and CNG (compressed natural gas).

Sigma Offshore believes SMS, which uses proven technology in a more efficient way for many applications, could save clients in excess of 30% in total installed cost.

Benefits of the system include the ability to operate in harsh environments, efficient connect/reconnect systems, minimal invasion into the ship’s hull and very low maintenance costs.

The system’s design allows fabrication at various locations around the world to suit the fabrication of the vessel. Sigma has identified particular opportunities in the conversion of tankers to FPSOs and FSOs, where both the reduced time and cost benefits offered by SMS are heightened.

The company has targeted SMS for markets in South America, West and North Africa, the North Sea, South East Asia and Australian waters.

A bespoke SMS can cost from £10m (US$15.6m) to £30m (US$46.9m) or more, while competitive mooring systems can cost £25m ($39.1m) to £50m ($78.1m).

Sigma Offshore recently secured funding totalling £4million (US$6.1m) from global oil and gas services company National Oilwell Varco (NOV), Scottish Enterprise’s Scottish Venture Fund (SVF) and Norwegian venture capital firm, Energy Ventures.

The company will also be presenting a paper at the China FPSO Summit in Shanghai on September 16-17 and exhibiting at FPSO Asia in Singapore on September 28-29.

As well as FSO and FPSO mooring and fluid transfer solutions, Sigma Offshore delivers extended well testing systems, floating production export system solutions, subsea solutions and project management.