The Congress kicked off with macro-market perspectives from Congress Chairman Duncan Peace, Managing Director of Crondall Energy, Puneet Sharma, Vice President Atlantic FPSO Development Group for MODEC and Kelvin Sam, Principal Researcher at IHS Energy. Puneet addressed the pressures from global production and US shale markets on oil prices, while Kelvin delved into the 4-6 potential FPSO awards for 2017
In an FPSO World Congress first, oil companies and FPSO contractors sat down together in a Power Panel to discuss how to demonstrate the fundamental value of FPSOs in the current market climate. Key themes included how FPSO contractors can leverage their individual competitive advantages to collaborate with oil companies, looking at creative commercial arrangements to push projects forward, and the application of innovative onshore technologies to the FPSO space.
The Congress then divided into 4 dedicated streams addressing key Commercial, Technical, Project Execution and Operations/ Asset Integrity issues. Featuring live polling, roundtable discussions and panels, this gave delegates a chance to dive into the nitty-gritty 4 of their FPSO interests.
Philippe Levy of SBM closed day one of the Congress with his presentation on practical steps to delivering cost-effective FPSOs in the current oil price environment. The key takeaways being a change in execution models toward cooperation and earlier engagement between stakeholders as the path forward for robust yet economical FPSO projects.
After a busy day of discussions and networking, Congress attendees kicked back at our annual FPSO World Congress Cocktail Reception. Hosted by Bureau Veritas, delegates had the chance to unwind and meet new colleagues over a cool drink and lavish sushi bar.