We are living through unprecedented times. The global COVID-19 pandemic has caused travel restrictions and social lockdowns, contributing to market instability. Drastic measures taken to ease the spread of the virus restricts many of the key processes of the oil and gas industry. With oil prices hovering around the $42 per barrel* mark, the sector wonders what the future will hold. As it looks to the future, the industry is aware it needs to be strict on cost discipline yet improve efficiency and maintain safety standards, areas which digitalization can help with. As concerted efforts are made to improve project economics, digitalization can help with evaluating and analyzing data, improve cost savings, safety as well as technical and operational capabilities.
In this report, we focus more explicitly on how data-driven FPSOs and Digital Twins will steer the future for the industry. It will provide you insights on:
The painful experience from the 2010s oil glut has prompted the industry to focus on existing investments, implement cost-control measures, mitigate project supply disruptions, and continue to drive innovations forward to keep the industry going.
Along with industry partners Royal IHC, Maersk Supply Service and HfW, the FPSO Network has put together this market report which includes key lessons that the industry has learnt over the years. It is now more important than ever to drive these innovative business models and cost-savings efforts during this unpredictable time, to boost favourable project economics and improve break-even levels for FPSO projects.
Download the report to read more.
In an era of uncertainty, the one thing for sure is that neither corrosion nor ageing of structures will stop. The current crisis has brought us all into a world of uncertainty. However what is sure is that neither corrosion nor ageing of structures will stop. The global COVID-19 pandemic has increased maintenance backlog significantly, resulting in major congestion.
The emphasis on remote working and reducing Personnel on Board (POB) is also an added challenge. At the same time, FPSO operators are trying to maximise production, and are seeking to avoid major disruptions. These market conditions and industry pressures at play have created an unprecedented challenge for the industry.
In this article, we explore the importance of structural integrity maintenance for FPSOs, latest insights and developments in this space.
The FPSO Network has put together this exclusive report which includes perspectives from several industry leaders on navigating the ripple effects from the volatile oil prices and the global COVID-19 pandemic. Our expert contributors share their insights into the new approaches FPSO leaders today must consider to counteract and de-risk their project strategies in this highly challenging time.
In this report, we look 4 parts:
Download to read the first segment of the report.
Ahead of the FPSO World Congress, the FPSO Network has put together this market report, which includes key lessons that the industry has learnt previously. It is now more important than ever to drive these innovative business models and cost-savings efforts during this unpredictable time, to boost favourable project economics and improve break-even levels for FPSO projects.
In this report, we cover:
In 2019, we saw a positive market sentiment due to stabilising oil price and encouraging government regulations in oil-rich regions, it was predicted to have more FPSO projects coming online and being commissioned.
Moving into 2020, the sudden COVID-19 disruption and the oil price war have shaken the FPSO industry. The FPSO World Congress team caught up with IHS Markit to discuss the current oil situation and what their forecast is for 2020 and beyond.
Download now to see the how the FPSO market is shaping up in Asia Pacific, Central and South America and Europe, Africa and the Middle East.
With more than 30 FPSO projects set to reach FID by 2021, the commercial viability of FPSO in offshore E&P has never been clearer. For 2019 and beyond we surveyed industry leaders and examined how FPSO professionals feel about the future of the sector.
Here is our infographic representation of the results ahead of the full detailed report which will be released soon.
This is the full detailed report from the State of the FPSO Market 2019 (Infographic) content.
For 2019 and beyond we surveyed industry leaders and examined how FPSO professionals feel about the future of the sector.
Deep dive into the report to discover industry answers on topics such as:
Download to see if their views marry up with your own.
The reason to digitalise anything is to change the status quo. Applied correctly, digitalisation could revolutionise the FPSO industry. As concerted efforts are made to improve project economics, digitalisation can help with evaluating and analysing data, improve cost savings, safety as well as technical and operational capabilities.
Digital transformation requires a change in mind-set, a long-term strategy and investment. In this article we explore the digital solutions you could be investing in to improve your FPSO operations.
Given the positive market sentiments due to stabilising oil price and encouraging government regulations in oil-rich regions, there are more FPSO projects coming online and being commissioned.
With information provided by IHS Markit we have produced a region by region view on the FPSO projects around the world that are currently under construction and a few that are in the planned phase.
Download now to see the how the FPSO market is shaping up in Asia Pacific, Central and South America and Europe, Africa and the Middle East
China is increasingly becoming a behemoth player in the international FPSO market. Signs point towards it taking precedence in the global market due to its development of expertise and production advancement.
In this report we spoke with David Boggs, founder and Managing Director of market intelligence firm Energy Maritime Associates on the rise of the FPSO China market.
Boggs discusses the gradual build up of expertise in the shipyards and the move towards working with an international market. He also shares the top advantages to executing a project in China along with those that have been successful and what the future holds.
Download article to read more.