Emergence Of Renewable Energy Will Not Affect FPSO Sector

Top Quote The 11th Annual FPSO Congress confirms over 40 speakers from 13 different regions. Top executives from Statoil, SNEPCo, BW Offshore and Sevan Marine would be slated as keynotes for the congress which will be held in September 2010. End Quote
  • (1888PressRelease) August 07, 2010 - And with more than 12 FPSO contracts to be awarded in 2010, the FPSO industry has seen increasing optimism in terms of new projects. Carl Krogh Arnet, Chief Executive Officer of BW Offshore, believes that this number is bound to increase. "The FPSO industry will see good and steady growth with an average of 15 units per year in the coming 10 years," he said.

    But even with the push towards renewable energy Arnet doesn't seem to worried about the future of FPSO's. "World oil production is naturally declining with 4-6% annually according to analysts. Considering the importance and portability of liquid hydrocarbons, we don't see any change in the prospects for the FPSO industry going forward caused by a shift to renewable. We expect renewable to substitute other energy sources locally," said Arnet.
    JC Hueber, Technical Development and Marketing Manager for SSP Offshore doesn't disagree. "While we should pursue our quest and increase our effort for renewable and cleaner energy, we do believe it will take years - perhaps decades - until renewable would represent more than a tiny share of the current world energy mix, and in the meantime the world would need to keep the lights and the factories humming," he said.

    "Therefore, the emergence of renewable energy is being considered as a long term challenge, and the FPSO industry will have ample time to realistically and effectively plan and adapt to the energy shift, and certainly support certain green energy in the process such as offshore wind power and other technologies," he added.

    JC Hueber and Carl Arnet will be speaking at the 11th Annual FPSO Congress, which will be held at Marina Bay Sands on the 28th & 29th of September. For more details on the congress please visit www.fpsoasia.com or email us at bryan.camoens ( @ ) iqpc dot com dot sg

    About IQPC Worldwide:
    For over thirty years, IQPC has helped the world's leading corporations solve their business challenges through the sharing of practical industry solutions and global best practice. In the process, the company has built a formidable reputation for quality and value. The world's most progressive companies have benefited from IQPC's unrivalled global reach, which has connected international expertise with regional and local leaders.

    For media enquiries, please contact:
    Bryan Camoens
    IQPC Worldwide
    Tel: +65 6722 9406
    Email: bryan.camoens ( @ ) iqpc dot com.sg

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