Kelvin Sam is a principal research analyst for IHS Markit.
Prior to joining IHS Markit, Kelvin worked as an equities research analyst in
JPMorgan Singapore covering rigbuilding and FPSO contractors and as a category
analyst in Shell covering the floating production systems market. Kelvin holds
a Bachelor’s degree in Business Management from Singapore Management University
and is a CFA charterholder.
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.