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Digitalisation in FPSO Execution and Operations

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Leveraging Digitisation to improve Opex Offshore

More than 400 project- and asset-oriented companies are using IFS applications for enterprise asset management(EAM), enterprise resource planning (ERP) and more. Our focus on the oil and gas industry is evidenced by both deep industry expertise and a solid track record. IFS offers flexible, project and asset oriented solutions that manage the total contract, project, asset and service life cycle.

Strategies for Avoiding FPSO Disputes

Track and respond to all correspondence – including emails. Failure to respond suggests agreement. Make calendar appointments reflecting meetings with the other contracting parties. Establish procedure to record in detail what happens at meetings with the other parties (include a list of documents exchanged or reviewed). Notify other party to contract when information/action from them is needed (and is missing), and only then take corrective action. Specifically complain in writing about any delays/ problems/ potential claims under the contract and provide prompt written notice of problems/breaches.

FPSO Executive Summary 2

It goes without saying that in times of low oil price, reducing operational expenditure is a sure-fire way to make any project more commercially viable. Whilst cost-cutting is far from a panacea, every little helps. In the following analysis, we look at six ways in which companies in the FPSO sector can make their operations more efficient at the same time as saving valuable dollars.

FPSO Executive Summary

The dip in oil prices that has plagued the oil and gas industry in the past 24 months has not spared the floating production, storage and offloading (FPSO) sector. The “bankability” of FPSO projects, those whose parameters fall in line with the expectations of financing institutions, is of crucial import at a time when potential financiers are looking to limit their exposure to a business that is in the trough of a wave. In this analysis, we ask a panel of experts from the financial part of the industry what they think would best advance the bankability of an FPSO project in such an adverse climate.

2017 State of the FPSO Nation Report

After the lowest number of awards in three decades, the floating solutions industry is striking back against the oil price depression. In this exclusive 14-page report created in conjuction with the FPSO Network and Oil & Gas IQ's combined 170,000 subscriber base, we have reached out to the FPSO community to define some the key areas and pain points that need to be tackled if the sector is to win in the current oil price environment. Covering everything from the top three reasons for overruns to the primary drivers for technology selection and focus areas for improvement, the widest-reaching analysis of its kind is a must-read to understand the most pressing issues for those on both sides of the operator and contractor divide.

4 Ways That You Can Align Concept and Execution To Reduce Costs

Define to refine. Optimise your optimisation phase. Drive to standardise wherever possible. Ensure continuity.

Allow for proper definition of the technical solutions before the execution phase of a project. An optimisation phase in the framework is a good place to start. The more time spent on definition before EPC, the more value will be garnered for the project.

6 Ways To Enhance The Bankability Of Your FPSO Project

Be candid about the facts that underpin your project. Group your assets and piggy-back off existing developments. Simplification of the relationship between charterer and contractor vis-à-vis risk allocation.Innovate in your approach to financing for field development. What happens upstream, stays upstream. Be open to a new age of financing.

Some of the basics that underlie the field economics of your development must be parted with, such as an approximate breakeven point and the P50 and P90 reserves estimate of the project in hand. Some frankness about these fundamentals can help allay fears that a bank may have.

Four Questions on Project Libra with Jorge Mitidieri

The Libra Block in Brazil is one of the largest pre-salt oil reserves in the world. In March the Pioneiro de Libra left Singapore for Brazil to become the first FPSO to produce oil from the Libra field. Jorge Mitidieri, Executive Vice-President, Odebrecht Oil & Gas, answers our questions about this first-of-its-kind project. Download the infographic to find out more.

What does Digitalization Mean in the FPSO Industry?

What Does Digitalization Mean in the FPSO Industry? 2017 may prove to be the turning point for the FPSO sector following one of its worst years in a decade. However this should also be an opportunity for the industry to evaluate traditional operating methods. It’s time to think proactively and adapt to a changing landscape. The advance of digitalization can help with evaluating and analyzing big data, improve cost savings and safety as well as technical and operational capabilities. Read how digitalization can help the industry with our spotlight on digital solutions including an interview with Duncan Peace, MD Crondall Energy.

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