Marine industry event to debate oil price effects
Seatrade Offshore Marine & Workboats Middle East – the region’s leading event for offshore marine-related industries, workboat operators, builders and equipment suppliers – has revealed details of its 2015 conference programme for the biennial event.
The event, now in its fifth edition, returns to Abu Dhabi National Exhibition Centre (ADNEC) from 5-7 October 2015.
“The workboat and offshore industry is incredibly dynamic and complex, and with the existing low oil price situation dominating the market environment, the high level of unpredictability affecting operators, owners and the marine sector as a whole is forcing players to re-evaluate their strategies to mitigate negative commercial repercussions,” said Vanessa Stephens, managing director, Middle East & Indian Subcontinent, Seatrade.
Leading the opening keynote session will be Eng. Shamis Al Dhaheri, chairman, Ali & Sons Marine Engineering & MD, Ali & Sons Group; Dr Khaled Al Mazrouei, CEO, Abu Dhabi Shipbuilding Company and Rene Kofod-Olsen, CEO, Topaz Energy & Marine.
They will discuss the current business environment and market outlook, as well as effective resource allocation in a competitive market environment.
The Marine and Offshore Leaders Forum will take place on day one and aims to examine the future direction of the workboat and offshore sector, as oil and gas price volatility continues to destabilise market conditions.
"While previously high energy prices have been a successful catalyst for supply growth, lower oil prices have sparked a major shake-out of cost in the industry.
"The big question is whether lower oil prices will be sustainable if the needed upstream investment fails to come through.
"Not a problem for the next year or two, but will certainly be an issue at the back end of the decade,” asserted Bill Farren-Price, CEO, Petroleum Policy Intelligence, and one of the forum speakers.
Ian Hugo, regional managing director, Middle East & Indian Subcontinent, Smit Lamnalco, added: “There has been significant investment into new on and offshore facilities, services and technology in recent years as our clients demand ever higher standards of quality, safety and security.
"This is all reasonable, as is their demand for cost efficiency but as we look to the long-term profitability of our sector with depressed oil prices and pressure to reduce prices, the future looks challenging.
"So, with oil price low, we need to change and adapt to the new environment and the forum is a fantastic opportunity to lock heads and debate effective strategies to address the issues as key service supplies to the wider oil and gas industry.
The various forum sessions will analyse supply and demand drivers in relation to order book potential; look at solutions for success and securing new contract wins; the perspective of national oil companies versus contractor expectations; the shipyard outlook; and regional insight/opportunities from the Red Sea to the Caspian, Africa and South Asia.
Day two and three sessions include The Shipbuilding Technology Forum; The Human Element; a Finance Forum as well as two special regional ‘power hours’ about operational issues in the Caspian, with another dedicated to Africa.
Seatrade Offshore Marine & Workboats Middle East 2013 generated $850 million in onsite orders and attracted almost 5,000 participants from 54 countries.