How Can The FPSO Industry Change To Optimise Cost

Oil & Gas IQ

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The oil and gas industry is facing one of the biggest challenges for decades, with the price of a barrel halving year-on-year since 2014.

In September 2015, Royal Dutch Shell CEO, Ben van Beurden, told the BBC that a recovery in the price of oil was hard to foresee in the short-term. At roughly the same time, Goldman Sachs forecasted that the average price of oil through 2016 would be $45 per barrel, with a possibility of a dip as low as $20.

The logic follows that FPSO awards will be concomitantly lower, if the current low oil price persists. So, how can the FPSO industry change and adapt to optimize costs and allow for beneficial collaboration?

In the following analysis, we look at five areas in which the "floater" sector can adjust to win in the downturn.