Out of a global total of 28 floating production, storage and offloading (FPSO) vessels that are under construction, 22 are being built at shipyards in China, South Korea and Singapore that are heavily affected by COVID-19. If the epidemic escalates, the delays could increase to nine or even 12 months, especially taking into account the restricted time windows for heavy transport, installation and hook-up. The average development time for an FPSO is 36 months, meaning that companies could face a 30% delay.
Recently, under the traction of six tugs, the P71 FPSO (Floating production, storage and offloading units) hull built by CIMC Raffles for Petrobras left the deep-water wharf of Yantai base for the Brazilian sea area. The project is the first FPSO type delivered by CIMC raffles, marking a new breakthrough in the field of offshore oil and gas production equipment. In this session, CIMC will share how they have implemented innovative construction technologies to build FPSO faster to deliver projects on schedule
In this session, Schneider Electric will take a look at the various usage of digital twins and digital FPSO designs in the industry and how to properly integrate thesesolutions to help optimise construction and operations of FPSOs
In this highly interactive segment, delegates will discuss 2 out of the 12 major issues affecting the global FPSO industry. Each delegate will start at the first topic of their choice and engage in free-flowing discussion, led by a topic leader. At the end of 50 minutes, they will proceed to the next table to discuss their second topic of choice. In total, there will be 2 rotations of 50 minutes each, with the segment lasting for a total duration of 1hour40minutes. All discussions will take place concurrently.
Each IDG topic is limited to 8 senior level FPSO contractors and operators only. Write to email@example.com to find out more
The COVID-19 outbreak has caused many contracting problems during the construction and installation phase of a FPSO project. It is important for project stakeholders to manage their contracts effectively to maintain good relationships across the value chain despite any project conflicts that may arise due to this global pandemic.
This session will list down the various financing and legal issues surrounding vessel charter contracts and what can lenders’ do to overcome them and to reach a cost-effective win-win solution for all parties involved
Structure clear responsibility governing FPSO project development including construction timelines and deliverables to ensure optimal productivity
45% of oil and gas mega projects suffer extended production shut-ins into the second year after first oil. These production constraints in turn make it very difficult to meet cost and revenue targets. Learn why the FPSO industry should already consider state of the art equipment in the design phase, to improve FPSO up-time and to reduce OPEX and what solutions can be implemented on existing facilities in order to assist the same goals
Evaluate the benefits and limitations of FPSO standardisation vs. prescriptive whilst pursuing FPSO design and construction excellence
What are differences in operational, technical and cost requirements between greenfield and brownfield projects? Take a look at the various decisions and criteria to successfully execute a brownfield project from an operator’s perspective in order to help with operational planning, cost estimation and technical requirements
Identify key pre-FEED processes that companies should focus on getting right to develop a robust FEED for on-target project deliverables
As the impact of the COVID-19 outbreak continues to grow, FPSO operators across the globe find themselves in various stages of the crisis management lifecycle. It is critical to understand the longer-term implications of COVID-19 on FPSO operations and respond strategy for a rapid commercial recovery
Explore practical strategies to improve production efficiency while protecting asset integrity and meeting ongoing compliance and process safety requirements. Also, identify key challenges in maintaining an asset integrity framework for ageing and existing FPSOs and practical solutions without adverse impact on OPEX
The lack of projects over the past few years has caused the industry to reduce headcount in order to reduce OPEX. Now that the industry has recovered with projects being awarded again, companies need to decide whether to remain lean or look to employ professionals again