This paper discusses the development of a novel FPSO dry tree system by using a moored column-buoy connected to a ship shaped vessel.  The new system has a potential industry market compared with the traditional turret moored FPSO for deepwater offshore development, in particular for remote and deepwater locations where other pipeline infrastructure does not exist. The novel system is a Buoy Moored Floating Production Storage and Offloading system (BMFPSO). It uses a column-buoy instead of the turret in a conventional FPSO design for both internal and external turret system.  Similar to the turret, the column-buoy allows the vessel to weather vane about the column-buoy.  In addition, the vessel can move in vertical direction relative to the column-buoy. Thus the vertical motion of the column-buoy is de-coupled from the FPSO hull motion. The buoy will have a relatively small heave motion allowing the use of proven top tensioned riser technology. The motion characteristics of the system make it operable in a wide range of environmental conditions.