A floating offshore structure which is moored at a fixed position on the sea by means of mooring hawsers and anchors connected to the ends thereof respectively for conducting a submarine excavating operation from a deck of the structure. The structure includes a moorage hull part provided with a vertical through-hole formed therein for receiving an excavating drill pipe and the mooring hawsers and a movable hull part connected to the moorage hull part so as to be rotatable within a horizontal plane. The movable hull part is constituted as a hull defining the outer wall of the floating offshore structure and connected with the moorage hull part by inserting it into a moorage hull part receiving hole formed at a position closer to the bow thereof. The movable hull part has near its water plane a horizontal section with a substantially oval shape formed by a fore draft part in a substantially circular or polygonal shape, with the moorage hull part receiving hole as a center and an after draft part taperingly projecting aft from the fore draft part.
