Amid stabilising oil prices and a projected global growth of US$30 billion by 2025, Europe’s FPSO market is grappling with changing standards and sustainability issues.
At the same time, an ageing workforce, manpower shortages and rising costs continue to pose significant challenges for Europe’s FPSO industry. While overall market sentiment remains positive — with eight projects to be developed over the next decade — oil and gas professionals have to continue considering ways to move the industry forward to ensure long-term success.
This includes strengthening public-private partnerships, improving sustainability efforts, incorporating digitisation and automation, and exploring creative financing models to keep FPSO projects afloat in the North Sea.
Download our market report to find out more about the state of the industry.
The topic of life extension of FPSO projects has gotten an increasing amount of attention over the last five years, especially since the 2014 downturn saw oil and gas firms focusing more intensely on cost-saving and long-term solutions.
Aside from minimising expenditure, FPSO life extension also shines the spotlight on issues of safety and integrity in the sector. To mitigate these issues, operators have turned to integrity assessment analysis to better prepare for the future.
In this report, we hear from Oil & Gas Authority UK’s Nils Cohrs, who discusses what companies should look out for when considering life extension, and how it can benefit operators.
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The FPSO Europe Congress continued to bring industry leaders across the value chain together to share lessons learnt from their own FPSO project, forge meaningful connections amongst the community and most importantly develop exciting business plans beyond 2019.
Download the 2019 Post-Show Report to read more.