01 - 04 September, 2020
| Online Event
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
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
4:00 pm - 5:00 pm
FINANCING PANEL DISCUSSION: EVALUATING OPTIMAL PROJECT FINANCING STRUCTURES IN THE CURRENT BUSINESS LANDSCAPE
Mr Dorian Delteil -
Head of Oil & Gas,
DBS Bank
Mr Shiv Sivarajah - Head of Energy & Resources, Asia & Oceania, MUFG
Mr Melvin Gwee - Director - Infrastructure Finance, Natixis Bank Singapore
Mr Adolfo Dindo Abueg - Co-Head Project Finance, Asia Pacific, Korea Development Bank
Mr Siddhartha Shrivastava - Head of Natural Resources, Investment Banking Asia, Sumitomo Mitsui Banking Corporation
- 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
Mr Siddhartha Shrivastava
Head of Natural Resources, Investment Banking AsiaSumitomo 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
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
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
