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Live from Sea Asia

Falling oil price, sophisticated vessels in focus at Sea Asia Offshore Marine Forum

Falling oil price, sophisticated vessels in focus at Sea Asia Offshore Marine Forum
The falling oil price and the need for sophisticated vessels will be top of the agenda at Sea Asia 2015 Offshore Marine Forum next week.

Among the leading industry executives sharing their insights will be Neil Glenn, managing director, Swire Pacific Offshore Operations and Alessandro Ciocchi, vice president offshore for V.Group.

Looking ahead to the discussion Glenn said: “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.

“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.”

V.Group’s Ciocchi meanwhile highlighted the need for the sector to equip itself with more sophisticated vessels.

“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,” he said.

“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.”

Established as one of Southeast Asia’s largest maritime conferences and leading forum for analysis and debate on the challenges and opportunities facing the sector, Sea Asia will take place in Singapore next week from 21-23 April 2015.