Agenda Day 1 - 27 February 2018

8:00 AM - 9:00 AM Morning Refreshment and Registration

9:00 AM - 9:10 AM Opening Remarks from Chairperson

Duncan Peace, Managing Director, CRONDALL ENERGY

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Duncan Peace

Managing Director
CRONDALL ENERGY

9:10 AM - 9:40 AM Market Intelligence: Mapping the FPSO market outlook for 2018 and beyond

Audun Martinsen , VP Oilfield Service Research, Rystad Energy
  • Taking a long-term view and recognising where the market lies beyond 2018
  • Exploring new opportunities beyond the North Sea and understanding its accompanying challenges
  • Forecasting FPSO orders for 2018-19

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Audun Martinsen

VP Oilfield Service Research
Rystad Energy
The FPSO market is at a stage of cautious optimism. While oil prices have generally stabilised and market activities are picking up, it is increasingly difficult to get border-line, marginal projects pushed forward. In this Power Panel, industry leaders will address the main inhibitors that prevent projects from progressing and discuss practical strategies to overcome these challenges.

  • Streamlining processes for enhanced project conceptualisation, execution and deployment
  • Transforming FPSO operations for increased productivity and reduced costs
  • Overcoming the financing bottleneck to push FPSO projects forward
  • Re-defining project execution to achieve on-time and on-budget delivery
  • Maximising value from FPSO projects

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Stuart Wheaton

UK Business Unit Manager
Premier Oil
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Keith Williams

Project General Manager, Western Isles Development
Dana Petroleum
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Michael Wyllie

Group Technology Director
SBM Offshore
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Puneet Sharma

Vice President
MODEC

10:40 AM - 11:00 AM Speed Networking Session

11:00 AM - 11:30 AM Morning Break

In the current low oil price context, financing remains one of the biggest challenges for oil companies and FPSO contractors alike. With the negative reputation of “budget overruns and project delays” leading to high risk aversion, conventional project financing strategies are no longer sufficient to meet the extensive investments required for FPSO and field development projects. It is therefore mission critical to deep-dive into major financing issues, understand what financiers need to make the economics work and explore innovative financing models that are mutually beneficial to oil companies, FPSO contractors and financiers.

  • Assessing the investment appetite for FPSO and field development projects in the current market
  • Determining the bankability of projects – Looking beyond just the FPSO and assessing field economics as a whole to obtain financing
  • Analysing current and emerging innovative schemes, and alternative funding models – Are we approaching financing the right way? Which models are most conducive?
  • Overcoming barriers and mitigating potential risks involved in FPSO and field development project finance
  • Designing tailored and innovative ways to help small-mid oil companies obtain financing for FPSO projects

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Eduard Ruijs

Managing Director
Blackrock Global Energy & Power Group
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Kristian Flaten

Senior Vice President – Head of Oil & Gas
Eksportkreditt
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Shehzad Haq

Head of Reserves Based Lending and Offshore Services
Sumitomo Mitsui Banking Corporation

Jacco Bakker

Vice President, Offshore Oil & Gas Structured Finance
ING Bank
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Nienke Blans

Head of Energy EMEA
ABN Amro

12:00 PM - 1:00 PM The Project Finance Roundtables

Delegates will get the opportunity to select and participate in 2 Interactive Roundtable Discussions, each led by one of our leading Financiers. All of the following 30-minute sessions will deep-dive into a critical FPSO financing issue, providing you the opportunity to get all your FPSO financing questions answered.

12:00 PM - 1:00 PM Project Finance Roundtable A | Determining the bankability of projects – Looking beyond just the FPSO and assessing the entire field economics to obtain financing

Jacco Bakker, Vice President, Offshore Oil & Gas Structured Finance, ING Bank
  • What financiers take note of and how can you make your project “bankable”?
  • FPSO economics vs. field economics – Which holds more weight? Which allows whole-of-project economics to stack up?
  • Discussing new and innovative strategies to make your project “bankable”

Jacco Bakker

Vice President, Offshore Oil & Gas Structured Finance
ING Bank

12:00 PM - 1:00 PM Project Finance Roundtable B | Analysing current and emerging innovative project financing schemes, and alternative funding models

Kristian Flaten, Senior Vice President – Head of Oil & Gas, Eksportkreditt
  • Evaluating alternative financing options (e.g. private equity firms and export credit agencies)
  • Grasping the advantages and disadvantages of the alternative financing options
  • Working strategically with alternative financing options to ensure project finance success
  • Avoiding common pitfalls in project finance

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Kristian Flaten

Senior Vice President – Head of Oil & Gas
Eksportkreditt

12:00 PM - 1:00 PM Project Finance Roundtable C | Overcoming barriers and mitigating potential risks involved in FPSO and field development project finance

Pierre Carassus, Director, LNG Shipping and Offshore, Societe Generale
  • Demonstrating how financiers calculate project risks involved in investments
  • Avoiding major “deal-breakers” in projects
  • Balancing cost reduction efforts with the accompanying increased project risks

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Pierre Carassus

Director, LNG Shipping and Offshore
Societe Generale

12:00 PM - 1:00 PM Project Finance Roundtable D | Designing innovative ways to help small-mid oil companies obtain financing for FPSO projects

Shehzad Haq, Head of Reserves Based Lending and Offshore Services, Sumitomo Mitsui Banking Corporation
  • Taking a different lens – Are there different assessment models for small-mid oil companies?
  • Alleviating project finance risks for small-mid oil companies
  • How do you select the “right” financing model? What are the key determining factors?

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Shehzad Haq

Head of Reserves Based Lending and Offshore Services
Sumitomo Mitsui Banking Corporation

12:00 PM - 1:00 PM Project Finance Roundtable E | Demonstrating what every engineer needs to know about project financing for FPSOs

  • What goes into FPSO project financing – a Project Financing 101 for engineers
  • Understanding the critical role engineers play in project financing
  • Striking a balance between engineering requirements and essential project requirements to keep costs minimal

12:00 PM - 1:00 PM Project Finance Roundtable F | Exploring different project financing models with subcontractors and solution providers

  • Analysing the feasibility of bringing subcontractors and solution providers on board early in the project financing stage
  • From the financiers’ point-of-view – How can subcontractors and solution providers get projects successfully financed?
  • Showcasing successful project financing case studies with different parties involved

1:00 PM - 2:00 PM Networking Lunch

Stream A: Streamlining Processes for Enhanced Project Conceptualisation, Execution & Deployment

2:00 PM - 2:10 PM Stream A Chairman’s Opening Address

Stream A: Streamlining Processes for Enhanced Project Conceptualisation, Execution & Deployment

2:10 PM - 2:50 PM Leveraging on value engineering and front-loading to make projects viable in the current oil price climate

Richard Nott, VP of Business & Technical Development, Lloyd's Register Energy
  • Discussing how oil companies, FPSO contractors and subcontractors can work together from the start to develop a robust Pre-FEED/FEED strategy
  • Justifying the value and ROI of front-loading FPSO projects
  • Developing meaningful guidelines to ensure the success of value engineering

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Richard Nott

VP of Business & Technical Development
Lloyd's Register Energy

Stream A: Streamlining Processes for Enhanced Project Conceptualisation, Execution & Deployment

2:50 PM - 3:30 PM Standardising critical FPSO processes and requirements to boost deployment times

Knut Bredahl, Head of Sales & Marketing, Sevan Marine
  • Which processes can be simplified and standardised, and how can we do it?
  • Reviewing key requirements of FPSO projects and formulating standardised models for long-term efficiency
  • Addressing challenges and opportunities of standardisation in the $50-$55/bbl oil prices

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Knut Bredahl

Head of Sales & Marketing
Sevan Marine

Stream B | Re-defining Project Execution & Operations

2:00 PM - 2:10 PM Stream B Chairman’s Opening Address

Stream B | Re-defining Project Execution & Operations

2:10 PM - 2:50 PM Harnessing digitalisation in offshore offloading operations

Simon Bishop, Services and Digital Solutions Manager, Dunlop Oil & Marine
  • Discussing the use of high-tech innovations for FPSO projects
  • Translating collected data to actionable insights
  • Understanding how digitalisation can lead to on-time and on-budget project execution and delivery

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Simon Bishop

Services and Digital Solutions Manager
Dunlop Oil & Marine

Stream B | Re-defining Project Execution & Operations

2:50 PM - 3:30 PM Striving for “on-time and on-budget” delivery through stronger value-chain collaboration

Richard Bowcutt, Sales and Services Director, Heatric
  • Examining the importance of meaningful collaboration and strategic partnerships for cost reductions and increased productivity
  • Engaging project stakeholders early to accurately understand project expectations, requirements and deliverables
  • Encouraging collaboration (not competition) by formulating strategic guidelines and scope of work for all project teams
Content to be confirmed

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Richard Bowcutt

Sales and Services Director
Heatric

3:30 PM - 4:00 PM Afternoon Break

Stream A: Streamlining Processes for Enhanced Project Conceptualisation, Execution & Deployment

4:00 PM - 4:40 PM Working Group | Challenge: How do you leverage on innovative contracting and leasing models to push projects forward in the current oil price environment?

Stream A: Streamlining Processes for Enhanced Project Conceptualisation, Execution & Deployment

4:40 PM - 5:20 PM Revisiting commercial models, risk sharing, funding and contractor roles in future FPSO projects

Oskari Jaakkola, Vice President, Business Development and Sales, Africa, Europe & South America, Bumi Armada
  • Understanding the optimal utilisation of contractor capabilities and production service
  • Improving payment security to obtain contractor funding
  • Facilitating contractor cooperation and reducing interfaces

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Oskari Jaakkola

Vice President, Business Development and Sales, Africa, Europe & South America
Bumi Armada

Stream B | Re-defining Project Execution & Operations

4:00 PM - 4:40 PM Working Group | Challenge: How do you increase safety, reduce downtime and lower costs in FPSO crew and cargo transfer?

Stream B | Re-defining Project Execution & Operations

4:40 PM - 5:20 PM FPSO projects are “too big to fail” – How can we headline good concept definition to reduce whole-of-lifecycle costs?

Simon Bradbury, Chief Operating Officer, Steam Oil Production Company
  • Demonstrating how concerted engineering and proper planning at the start allows for efficient project executions
  • Achieving reduced CAPEX and OPEX by ensuring that the FPSO project is fit-for-purpose
  • Understanding the dynamics and integration between the facility, reservoir and economics

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Simon Bradbury

Chief Operating Officer
Steam Oil Production Company

5:20 PM - 5:30 PM State of the FPSO Nation 2018

In the 2018 State of the FPSO Nation address, gain a macro outlook of the FPSO market and the wider oil and gas industry. This includes a comprehensive assessment of current market situations and the implications of a $50-$60/bbl price range on the industry.

5:30 PM - 5:30 PM Chairman’s Closing Summary

5:30 PM - 8:00 PM Cocktail Reception hosted by Teekay Offshore Production

All delegates are invited to join us for the annual FPSO Europe Congress Cocktail Reception proudly hosted by Teekay Offshore Production. After a long day of networking and intensive discussions, kick back, relax and enjoy a beverage while you network with your peers in a relaxed and sociable environment.

Sponsored by: Teekay Offshore