Hassan Basma to Sit on C-Level FPSO Contractor Panel and Discuss Oil Price Changes at FPSO Europe

Hassan Basma, former CEO of Bumi Armada, will join his counterparts from SBM Offshore, BW Offshore and Sevan Marine to discuss what the current oil price scenario means for FPSO contractors at the FPSO Europe Congress on 10-11 February in London.

Mr. Basma is the latest industry heavyweight to be participating at the Europe Congress and share his perspective on recent industry events, and the implications for the FPSO market in 2015 and beyond.

The free-falling oil prices and its effects on the oil and gas market remain at the top of the agenda across the industry, as global oil companies and FPSO contractors chart out their strategies to remain competitive.

Further underlying questions regarding the FPSO industry will be debated at the Congress. ‘In ensuring that our Congress agenda remains relevant and continues to add value to the industry, we have revamped the programme to incorporate the biggest questions on everybody’s mind at the moment—what exactly are oil companies and FPSO contractors going to do with regard to current and future projects and developments?’ commented Joshua Lim, Conference Director for the FPSO Europe Congress.

Key issues such as the future of marginal field development, FPSO contracting and restructuring, and FPSO life extensions will be debated at the Congress in two weeks time, complementing the UK government’s keynote presentation on the latest strategies and regulations for operations in the North Sea.

So far, the last minute changes in the Congress agenda have received positive feedback from the community, with senior delegates and economists from Premier Oil, Maersk Oil, BP, Chevron, Shell and Dana Petroleum confirming their attendance. ‘The latest events in the market have seen more oil operators find value in attending the FPSO Congress. No doubt that FPSOs are just one available option among mobile offshore production units, but they remain a valuable and cost-effective asset in ensuring that offshore fields are monetised, particularly in the North Sea and West Africa. The question that the Congress hopes to begin to answer then, is how can oil operators and contractors work together to deliver profitable projects now?’ Lim summarised.

For media enquries please contact Rani at rani.kuppusamy@fpsonetwork.com