FPS or floating production systems are much like the semisubmersible drilling rigs, with the exception that they also host Petroleum production equipment, as Well as Oil drilling equipment.

These boats can also be used as floating production systems. The FPS platforms can be kept in place through large, heavy anchors, or through dynamic positioning similar as used by drillships rigs.

With a floating production system, FPS, once the drilling has been completed, the Wellhead eqipment is actually on the seabed, instead of up on the platform as for fixed platforms.

The produced oil and gas ( petroleum) is theb transported by rigid or flexible risers from the wellhead on the seabed to the production facilities on the semisubmersible platform. These floating production systems can operate in water depths of up to 2,000 meters.