This paper discusses the effects of corrosion and slamming on Floating Production Storage and Offloading (FPSO) structures in the North Sea by using a time variant structural reliability based approach. An FPSO structure currently in operation in the North Sea is analysed, an analytical approach is suggested and used to determine the Ultimate Strength of the FPSO structure and compared with other published methods. A non-linear corrosion method is then used to determine the effect of corrosion on the ultimate strength and subsequently in the reliability of the structure. Slamming loads on the midship section of the FPSO are calculated using closed form expressions. The effect of slamming and green water load on the overall vertical bending moment applied on the structure is combined with the vertical wave bending and still water loads using the Ferry Borges- Castanheta method and the SRSS rule, to provide the distribution and variation of a loading component for structural reliability analysis to be performed. Time variant reliability analysis using Monte Carlo Simulation is then used to determine reliability indices and probabilities of failure for the structural system analysed on a component level.

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