Tuesday, 8 September 2020 - Market Intelligence & Project Financing Day

3:00 pm - 3:05 pm FPSO NETWORK WELCOME & HOUSEKEEPING ADDRESS


3:05 pm - 3:10 pm CHAIRPERSON OPENING ADDRESS

Mr David Hartell - Managing Director, Stellae Energy

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Mr David Hartell

Managing Director
Stellae Energy

3:10 pm - 3:50 pm MARKET UPDATE: DELVING INTO E&P ACTIVITIES, FPSO OPPORTUNITIES & FIDS UPDATES IN AFRICA, SOUTH AMERICA AND ASIA

Mr Kelvin Sam - Principal Analyst, IHS Markit

This session aims to discuss the state of the FPSO nation and market trends in upcoming near future. As the FPSO market is set to grow from its current market value of just over $28 billion to $30 billion by 2025. Ongoing offshore exploration and production activities compelled by depletion of onshore oil & gas reserves are poised to transform market trends over 2019- 2025. On top of that, at least 33 FPSOs are expected to be sanctioned from 2019 to 2021 due to the pick-up in oil and gas activities in the offshore sector.


  • Analysing the current state of global oil and gas market, as well as, E&P opportunities
  • Recapping recent field developments and exploring upcoming FPSO project opportunities
  • Exploring new and upcoming projects and FID updates in Africa, South America and Asia 
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Mr Kelvin Sam

Principal Analyst
IHS Markit

  • Discussing the breakdowns of various financing solutions available in the market
  • Understanding the benefits and pitfalls of each type of financing structure
  • Identifying the most suitable avenue of financing based on geography, operational needs and timeframe
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Mr Dorian Delteil

Head of Oil & Gas
DBS Bank

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Mr Shiv Sivarajah

Head of Energy & Resources, Asia & Oceania
MUFG

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Mr Melvin Gwee

Director - Infrastructure Finance
Natixis Bank Singapore

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Mr Adolfo Dindo Abueg

Co-Head Project Finance, Asia Pacific
Korea Development Bank

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Mr Siddhartha Shrivastava

Head of Natural Resources, Investment Banking Asia
Sumitomo Mitsui Banking Corporation

5:10 pm - 5:50 pm MARKET UPDATE: COMMERCIALISING FIELDS USING REDEPLOYED FPSOS – A MEANS TO NAVIGATE $30/BBL OIL?

Mr Jo Friedmann - Senior Analyst, Energy Service Research, Rystad Energy

Rather than investing in brand new FPSOs for marginal or brown fields, oil operators have successfully refurbished existing FPSOs and redeployed them accordingly. In this dynamic oil price climate, can redeployment be used as an alternative means to advance FPSO projects? However, the question of redeployment is not as easy as it may appear, and could require extensive modifications which impact project timelines and project commercials


  • Identifying the advantages of redeploying existing FPSOs instead of using newbuilds
  • Sharing the difficulties faced when refurbishing an existing FPSOs for redeployment in a new fields
  • Identifying how an FPSO is determined to be suitable for redeployment, and the project execution strategy to successfully deliver on time and on budget 
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Mr Jo Friedmann

Senior Analyst, Energy Service Research
Rystad Energy

5:50 pm - 5:50 pm CHAIRPERSON CLOSING REMARKS

6:30 pm - 8:00 pm PREMIUM CONTENT ADD-ON:EXCLUSIVE WORKSHOP C

Mr Uzoma Victor Correia - Contracts Manager, BW Offshore

COVID-19 IMPLICATION: CRITICAL CONTRACT MANAGEMENT TIPS TO RESOLVE CONTRACT DISPUTES AND REMOVE CONFLICTS

As COVID-19 spreads around the globe, it is having a major negative effect on international business and disrupting numerous global supply chains, including the FPSO industry. Countless contracts are being disrupted by factory shutdowns in the areas most affected by COVID-19. In recent weeks, thousands of force majeure were issued. However, COVID-19 will not give rise to a valid force majeure defense under every contract and in every circumstance, as different contracts and governing laws stipulate different requirements for different situations. Companies therefore need to proactively manage the related risks and carefully assess which party must ultimately bear the financial losses and conflicts caused by COVID-19.


Learning Points:

  • Managing legal risk when confronted with immediate supply chain problems to create a more robust supply framework for the future
  • Analysing the risk allocation under each contract separately to develop the best risk management strategy and to best avoid project conflicts with other stakeholders
  • Managing contract disputes proactively to resolve them efficiently with measures to minimise COVID-19 problems 
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Mr Uzoma Victor Correia

Contracts Manager
BW Offshore

8:30 pm - 10:00 pm PREMIUM CONTENT ADD-ON:EXCLUSIVE WORKSHOP D

Mr Boris Rijnten - Project Manager, Bluewater

INTEGRATING EFFECTIVE MEASURES FOR FPSO LIFE EXTENSION

Since many past projects are coming to an end and/or FPSO’s are reaching their design life, FPSO players are planning to extending the projects and lifetime to maximise their existing FPSOs potential, performance and uptime


Learning Points: 

  • Re-examining and incorporating life extension options in early stage for your FPSO project – not everything can be renewed!
  •  Discussing the key factors to consider during the design phase to ensure a balanced approach for life extensions within schedule and cost constraints
  • Taking a collaborative approach between project main project stakeholders
  • Considering new technologies in FPSO brownfield and life extension projects for maximum project efficiency
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Mr Boris Rijnten

Project Manager
Bluewater