Sea Asia 2015 to focus on oil prices and modern vessels

Offshore industry experts will gather for the fifth time at one of the “world’s largest maritime forums”. The main topics of the event will be the impact of falling oil prices and the complex technological challenges of moving into deeper water.

Speaking at the conference’s Offshore Marine Forum session Neil Glenn, Managing Director, Swire Pacific Offshore Operations Ltd and Alessandro Ciocchi, Vice President Offshore, V.Group will share their insights on how these issues affect the industry.

Some of the topics that are going to be covered during the three-days program include the future of Asia’s offshore industry against the background of falling oil prices, and the development of global shipping and offshore finance.

The experts will discuss subjects regarding the fluctuating oil prices and regional demand that will affect Asia’s and the Middle East’s burgeoning offshore oil and gas business.

A sneak preview

Neil Glenn, Managing Director, Swire Pacific Offshore Operations Ltd, gave a preview of what he is going to talk about: “The falling oil prices have undoubtedly impacted the whole offshore oil and gas industry. The downturn of oil prices since June last year has prompted significant cuts in expenditure by the oil and gas companies which in turn has reduced overall activity levels and seen pressure to cut costs across the supply chain.

Regarding the need for sophisticated vessels, he added:“Shipowners and operators face a range of challenges in the current environment and I look forward to exploring how the impact of the challenges with my offshore colleagues next week.”

Alessandro Ciocchi, Vice President Offshore, V.Group, who will share his thoughts on how the mentioned issues affect the industry, pointed out the need for the industry to equip itself with more technically advanced vessels as it is going deeper into water.

“In the last few years, exploration and production (E&P) activities have started to move into deeper water and more challenging environments. As such, more sophisticated vessels, equipment and technologies will be required to enable this new play in E&P.

“At the same time, technically savvy equipment, which is usually designed to be more fuel-efficient, can also enable the industry to reduce its environmental footprint amid growth expectations to ease the industry’s impact on the environment.”

This year’s edition of Sea Asia will take place next week from 21-23 April 2015 in Marina Bay Sands, Singapore.

The event  is co-organised by Seatrade and the Singapore Maritime Foundation and it is an anchor event held in conjunction with the Singapore Maritime Week. Since it is well-attended by the most influential and respected leaders in the industry, the 3-day conference will bring forth the latest relevant discussion and debates, and analyse opportunities and challenges maritime industry is facing.

Image source: Marina Bay Sands

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