The scenarios of lease v buy for an operations contract is infinitely more complex than would first appear. The ownership of equipment and responsibility for repair and restoration are two big factors which have a different cost and risk scenario depending upon the lease or purchase path. This leads to a large degree of ambiguity.
Two different operations contracts should be put in place for the two scenarios of operation of a company owned FPSO and a contractor owned FPSO. This will then enable the differentiation of the roles, responsibilities of the contractor to be accurately determined.