Floating Production Systems (FPS) have been an essential component of offshore oil and gas development in recent years. It is estimated that the expenditure of global FPS will reach USD 91 billion between 2013 and 2017. However, given the plunge in global oil prices last year and the excessive shipping capacity growth over the past decade, the global market in marine engineering equipment dropped to the freezing point during the first quarter of 2015. As a result, the FPSO market is suffering from unprecedented difficulties. Nonetheless, the FPSO market is still encouraging in the long term: a positive outlook remains with potential orders for USD 80-120 billion from 2015 to 2019.
In the field of FLNG, with global offshore gas development steadily moving towards deep water, from the Prelude FLNG Project by Royal Dutch Shell to Kanowit FLNG Project by Petronas to Caribbean FLNG Project by Exmar. It is forecast that the FLNG market will attract USD 65 billion by 2020, and the majority of investment will be made in the Asia-Pacific region. With implementation of the “Made in China 2025” plan led by the “One Belt and One Road” strategy, FPSO & FLNG market will bring extensive development opportunities.
FPSO & FLNG Asia 2016 (FFA2016), which will be held 20-21 October in Shanghai, China, will bring together local and international stakeholders including government officials, representatives of industry associations, operators, leasing contractors, EPC contractors, vessel yards and equipment/ service providers. FFA2016 will focus on cutting-edge technology, market outlooks and boosting win-win cooperation.
Key issues to be discussed include:
- FPSO & FLNG Industries in China: Global Perspective with a Local Focus.
- Policy Incentive for Boosting FPSO & FLNG market: the Bright Outlook.
- Latest Technological Progress of FPSO & FLNG.
- Project Management for Better Efficiency and Effectiveness with High Cost Performance.
- World Best Practice of FLNG Projects.
FFA2016 is co-related to Asian Premier Summit Deepwater Asia Pacific. For more information, visit www.dap-annual.com/en
For more information about FFA2016, visit www.ffa-annual.com/en