The Road Ahead: Finding Opportunities in the Downturn

History

The FPSO World Congress debuted as a humble platform for project information and knowledge exchange surrounding a relatively new floating production solution that was quick to operation, redeployable and more cost-effective than any other offshore development option: the FPSO.

Over the past two decades the application of FPSOs has grown exponentially across the globe, and the FPSO World Congress has matured with it. Now in its 17th year, the World Congress remains the most established global touchpoint for FPSO professionals, gathering senior and key stakeholders from oil companies, vessel contractors, financiers, legal firms, shipyards, EPCs and solution providers together over 4 days annually to discuss the latest trends, projects and opportunities in the market.

Change is the only Constant

The boom times of $100/bbl oil saw FPSOs balloon into billion-dollar projects with heavier, more complex technical components and myriad specifications. The rapid fall in oil prices over the past two years has left the oil and gas community stunned, not least of which the offshore industry. Project delays and retrenching of manpower left many questioning the years ahead. 

Yet we know that markets are cyclical- the oil price will rise again, and drilling will continue. The question is: will stakeholders try to ride out the oil price downturn, or use this opportunity to re-examine processes, return to the fundamentals of FPSOs and find sustainable ways of working together in propelling robust and cost-effective FPSO projects forward? 

Opportunity in the Downturn

It is with this mentality that the 17th FPSO World Congress returns once again, providing industry leaders and changemakers with the platform to discuss these key challenges and together explore The Road Ahead: Finding Opportunity in the Downturn.

The plenary sessions will focus on macro-market issues: how oil companies are assessing E&P FID in this low oil price environment, field development requirements and their relationship to FPSOs; and how the industry can take a back-to-basics approach to FPSO project design and execution. Discussions will then dive into each critical aspect of FPSO project delivery in four streams – commercial, technology, project execution and operations/asset integrity – with the aim of reducing CAPEX, OPEX and execution timelines.

The Road Ahead

Monetizing both marginal and deepwater fields in this challenging market climate will continue to dominate the oil and gas industry narrative, and the 17th FPSO World Congress is the premier discussion forum for FPSO professionals to pave the industry’s road ahead. Welcome aboard.

If you like to find out more about the FPSO World Congress, please email us at enquiry@iqpc.com.sg or call us at +65 6722 9388. You may also want to view the brochure here. Alternatively, register here.