FPSO Europe Roundtables-3.5

25 October 2016
Millennium Gloucester Hotel, London
The FPSO Europe Roundtables are an exclusive day of closed-door, solution-
oriented discussions for senior stakeholders from oil companies, FPSO contractors and
financiers to engage in open and honest industry dialogue.
CLOSED-DOOR, SOLUTION-ORIENTED DISCUSSIONS
FOR EUROPE’S FPSO LEADERS
www.fpsoeuroperoundtables.com
Pierre Carassus
Director, LNG
Shipping and
Offshore
SOCIETE GENERALE
Antoine Saint Olive
Head of Offshore
Infrastructure
NATIXIS
Erwin Nederkoorn
Global Head Offshore
Oil/Gas Services
ING Bank
Hugo Diogo
Head of Energy
ABN AMRO
Project Financing
COMPLIMENTARY
BY INVITATION
ONLY EVENT*
Kevin Bourgeois
Project Director
ENQUEST
Khalid Lachheb
Head of Contracts
& Claims
TOTAL
Contracts & Risk
Peter Burridge
Naval Architect/
Structural TA-3
MAERSK OIL
David Hartell
Senior Development
Manager
PREMIER OIL
Market Intelligence Partners
Simon Bradbury
Chief Operating Officer
THE STEAM OIL
PRODUCTION COMPANY
FPSO Redeployment
*Participation is complimentary for oil companies and FPSO contractors. £39 admin fee applies.
Francis Armengaud
VP Engineering,
BU Floaters
SAIPEM
Severine Baudic
Group Engineering
& Technical Director
SBM OFFSHORE
Engineering & Conceptualisation
Maintenance & OPEX Reduction

2 T: +65 6722 9388 | F: +65 6720 3804 | E: enquiry@iqpc.com.sg | W: www.fpsoeuroperoundtables.com
WELCOME TO THE
FPSO EUROPE
ROUNDTABLES
Dear FPSO Colleague,
Following the success of the 2nd annual FPSO Europe Congress, came
feedback from both oil operators and FPSO contractors that there would
be significant value in holding closed-door, face-to-face roundtable
discussions for senior decision makers to discuss key issues that
emerged from the Congress.
This October, you have the unique opportunity to continue those
conversations and participate in a series of in-depth discussions
between your industry peers and subject-matter experts.
I’m delighted to welcome you to the FPSO Europe Roundtables, your
closed-door industry platform for interactive, insightful and open
discussions with Europe’s key FPSO stakeholders.
No doubt you have felt market pressures over the past 12 months, and
now more than ever oil companies, vessel contractors, banks and other
stakeholders are open to engaging as a community to advance robust
and cost-effective FPSO projects.
So take your seat at the table and join us at the FPSO Roundtables to
meet key players, have your voice heard and help shape the future of the
industry.
Best,
Jasmine Whiting
Project Director
FPSO Europe Roundtables
NOPOWERPOINTS.
NOPITCHES.
JUST CRITICAL AND
INSIGHTFUL PERSPECTIVES
AND TAKEAWAYS DESIGNED
BYTHE FPSO INDUSTRY FOR
THE FPSO INDUSTRY.
Featuring 8 roundtables led
by industry experts, the FPSO
Europe Roundtables
are unlike any other event.
As an exclusive, by-invitation-
only event for oil companies and
vessel contractors, participation
is complimentary* pending
approval. Get in touch today to
secure your seat at the table!
*£39 administrative fee applies
Who will you meet at the FPSO Europe Roundtables?
70+ specially selected key stakeholders from across the FPSO industry, including:
¢ C-Level / MD / SVP / Executive
Directors................................................. 10%
¢ Engineering / Construction / Technical
/ Maintenance / Asset Integrity
Managers................................................ 25%
¢ Development / Production / Projects /
Operations Directors & Managers....35%
¢ Commercial / Contracts / Tenders
/ Procurement / Legal Directors &
Managers. ...............................................30%
 Oil Operators.................35%
 Vessel Owners...............35%
 Shipyards and EPCs ...20%
 Banks, Law Firms,
Consultants....................10%
Job Function FPSO Primary Market Profile

AGENDA AT-A-GLANCE
8:30 Registration & Coffee
8:50 Welcome Address by Chairman
9:00 Outlook for Oil Markets and FPSO Projects in 2017 and Beyond
While oil markets have made a tentative rally from the lows of early 2016, the industry is by no means out of the woods. This
session will analyse global oil price trends and their effect on investment appetite and FPSO projects ahead.
n Reviewing the current oil price scenario: has the market finally bottomed out?
n How is US shale production impacting investment decisions offshore?
n Assessing the implications of a prolonged low oil price on FPSO project investment, contracting, execution and operations
n Examining the global FPSO market climate and appetite for 2017 and beyond with a focus on the North Sea and West Africa
Mark MacLean, Senior Vice President Head of UK, Rystad Energy
9:30 Panel Discussion: Bringing FPSO Projects To Fruition Through Reassessing Contracts Financing Mechanisms
As the enduring medium-term reality for the hydrocarbons industry, the low oil price environment has forced all FPSO stakeholders
to take a hard look at their current processes and plans for the future. This panel discussion will review the biggest issues in reducing
FPSO project costs and explore the various contracting and financing solutions in bringing projects to fruition.
n How are oil companies assessing potential field developments for 2017 and beyond, and is the FPSO supply chain capable of
assuming the risks and costs of new projects?
n How is the investment appetite for FPSO projects and what kind of financing alternatives are available?
n Cost Reduction: Are we looking at the right places? Where can costs be reduced in the debt financing and contracting
phases?
n What are the key stakeholder perspectives on optimal contracting models, and how can the risk profile for all stakeholders
be better balanced?
Panelists:
David Hartell Khalid Lachheb Hugo Diogo Erwin Nederkoorn
Senior Development Manager Head of Contracts Claims Head of Energy Global Head Offshore Oil/Gas Services
Premier Oil Total ABN AMRO ING Bank
10:15 Morning Refreshment Break
10:45 Roundtable Session 1
Delegates will be pre-assigned to the first roundtable discussion based on job function. Each table will seat between 7-10
participants, to facilitate a healthy and engaging discussion.
Delegates will be free to choose the roundtable of their choice. Each table will seat between 7-10 participants, to facilitate a
healthy and engaging discussion. Please see pages 4-6 for the full list of roundtable topics and hosts.
12:45 Lunch Networking Break
15:45 Closing Remarks from Chairman
16:00 Happy Hour Begins
Unwind over a drink or two and get to know your FPSO peers better at our free-flow FPSO Roundtables happy hour!
17:00 End of Happy Hour Roundtables Dialogue

ROUNDTABLE
TOPICS
70+ specially invited delegates will participate in a series of in-depth discussions with vessel owners, oil operators,
EPCs, financiers, and other key stakeholders to address critical issues in propelling robust and cost-effective
projects forward amidst the current market reality.
Each of the 8 roundtables will be hosted by subject matter experts and leading industry players, who will initiate
and moderate the discussions on their respective tables. Discussion sessions will occur simultaneously during 4
allocated sessions over the course of one day. Invited delegates will be free to pick and choose up to 4 roundtables
according to their professional expertise and interests.
Building Innovative Risk-
Sharing Mechanisms into
Contracts to Propel FPSO
Projects Forward
Recognising which party in an FPSO
contractassumesmoreprojectriskisoften
a subjective debate. FPSO contractors see
prescriptive requirements as barriers to
timely and cost-effective projects, while
oil companies are reluctant to relinquish
control that could compromise the
billions of dollars invested in their field
development. This roundtable will discuss
how to structure FPSO contracts to make
them more palatable for oil operators and
FPSO contractors.
n Exploring innovative ways to
share project scope and risk, such
as assuming oil price risk with
fluctuating returns or re-assessment
of fixed charter rates: where are the
opportunities?
n Identifying and agreeing to a realistic
quantification of risk between parties
n Assessing mechanisms to developing
a win-win contracting model:
liquidated damages and bank
guarantees; programme management
vs extension of time; time at large vs
time bar clauses
n Making the most of contract
renegotiations for existing projects:
balancing lease contract lengths and
day rates with upside allowance for
vessel contractors
Roundtable Host:
Khalid Lachheb
Head of Contracts Claims
Total
Developing “Bankable”
FPSO Projects from a
Financier’s Perspective
Banks often claim that financing is
readily available for FPSO projects that
can demonstrate a robust balance sheet
and contract. However, FPSO contract
structures can only be discussed within
what financiers consider commercially
sound. This roundtable will discuss how
financiers measure project bankability
and what they require from an FPSO
project and contracting model in order
to reach FID.
n How can the FPSO supply chain work
collaboratively to obtain financing
for operators and advance projects?
How can debt financing be reduced
through working together?
n Overcoming challenges such as
a lack of bank guarantees for
smaller operators, JV partners in
less financially stable regions and
mitigating the risk of project overruns
n Assessing more collaborative ways
to reduce costs through financial
streamlining vs. vessel contractors
proposing a financing and execution
plan for approval or rejection by the
client
n Exploring innovative opportunities to
obtain financing for small-to-mid-cap
oil companies: does private equity have
confidence in the offshore sector?
Roundtable Hosts:
Pierre Carassus
Director
LNG Shipping and Offshore
Societe Generale
Antoine Saint Olive
Head of Offshore
Infrastructure
Natixis
Developing an Equitable
Model of Risk Sharing
Across the Supply Chain
From conceptualisation to contracting
and execution, much of the front-end
activity in an FPSO project revolves
around risk. This session will discuss how
oil companies perceive, plan and manage
the risk-related costs of both traditional
and alternative FPSO award models.
It will further look at opportunities for
risk reduction and equitable risk sharing
in the supply chain through trust and
collaboration.
n Understanding project risks and
associated costs: country-based
(local content, regulatory compliance
and political stability), execution and
technical
n Assessing available risk-management
strategies: pros and cons of transfer,
insurance and budget provision
n Mitigating the compounding of costs
down the supply chain – where some
50 percent of project costs are held
– through early engagement with
subcontractors and supply chain
innovation
Roundtable Host:
Kevin Bourgeois
Project Director
EnQuest
ROUNDTABLE 1 ROUNDTABLE 2 ROUNDTABLE 3

ROUNDTABLE
TOPICS
Commercialising FPSO
Redeployment as an
Alternative Solution
for Marginal Field
Developments
Once one of the notable benefits of
FPSOs as a field development solution,
the concept of redeployment has fallen
out of favour over the past several
years as $100/bbl oil prices allowed
clients to spring for increasingly
complex vessels. Yet through balancing
the field development plan with
FPSO deliverables, redeployment can
be a robust and cost-effective field
development solution. This discussion
will explore some of the challenges of
FPSO redeployment as well as the key
elements of a successful redeployment
strategy.
n Assessing project risk and
understanding when a redeployment
makes sense
n What benefits can a redeployed FPSO
offer small-to-mid-cap oil companies?
How strong is the appetite to
adopting one?
n UnderstandingtheFPSOmodifications
and upgrades necessary to ensure a
productive and sustainable service life
n Balancing oil company and FPSO
contractor expectations and the
necessary field development
concessions to gain maximum asset
value from a redeployment
n Understanding the regulatory
requirements to redeploying an
FPSO, particularly in the North Sea
Roundtable Host:
Simon Bradbury
Chief Operating Officer
The Steam Oil Production
Company
Aligning Project
Conceptualisation and
Execution to Reduce Costs
An FPSO project conceptualised in
the front-end planning stage of a
development can often vary widely
from what is executed in practice. If
spiralling timelines and costs are to
be held under control, it is essential
that conceptualisation and execution
are aligned in order to deliver a robust
and cost-effective FPSO project.
This roundtable will examine how
engineering and technical strategies
can be incorporated into the entire
project execution plan to optimise FPSO
execution and reduce costs.
n Developing a holistic project picture
during conceptualisation to establish
a clear path for where costs can
be reduced in the overall project
execution
n Establishing a strong basis of design
before beginning project execution
n Creating clear communication across
all stakeholders and breaking silos
between drilling, subsea and FPSO
contractors
Roundtable Host:
Severine Baudic
Group Engineering
Technical Director
SBM Offshore
Reducing CAPEX through
Value Engineering in Early
Concept Development
As the design of FPSOs became
increasingly complex over the past
several years, corresponding escalation
of costs have strained project budgets,
particularly in light of current market
conditions. This round table will address
how the FPSO industry can leverage
value engineering through early
collaboration between oil companies and
contractors return to reduce CAPEX and
hold down OPEX on FPSO projects.
n What aspects of FPSO design can
be refined and improved to enhance
operational efficiency and cut costs?
n How can CAPEX be reduced through
lighter, more compact topsides?
n Can new technologies be applied
to simplify design, standardise and
reduce overall expenditure?
n In what ways can stakeholders
identify and align technical and
budgetary targets to monitor
progress and work towards common
goals?
Discuss how FPSO design and
engineering philosophies can be
aligned in the early phase of concept
development with functional, cost-
effective objectives in mind.
Roundtable Host:
Franics Armengaud
VP Engineering,
BU Floaters
SAIPEM
ROUNDTABLE 4 ROUNDTABLE 5 ROUNDTABLE 6

Reducing OPEX
through Robust Front-
End Planning
Increasing market pressures often
see CAPEX as the first target for cost
reduction, with OPEX rising unchecked
over the course of the vessel lifecycle.
Yet the most significant opportunity
for OPEX reduction lies in the front-
end planning phase. This roundtable
will explore the design and planning
factors that can ensure efficient FPSO
operations without exceeding OPEX
budgets.
n What can be done in the design phase
to ensure OPEX is held under control?
n How can personnel on board be
reduced through automation and
digitisation?
n Optimising equipment selection
and supplier relationships to keep
OPEX in check: how “healthcare
contracts” can reduce costs in design,
commissioning and installation
Roundtable Host:
David Hartell
Senior Development
Manager
Premier Oil
Optimising FPSO
Inspection, Repair and
Asset Integrity to Ensure
Safety Operational
Productivity
Just as “every car on the road is a used
car,” every operational FPSO – especially
those in the mid-late stage of their
lifecycle – requires strategic inspection
and maintenance if it is to continue
sustainable productivity. Yet lack of
maintenance can result in increased
planned or unplanned downtime,
impacting FPSO operating efficiency and
productivity. This roundtable will discuss
how to optimise FPSO inspection, repair
and maintenance and increase service
life.
n Developing an early asset integrity
framework through alignment of
client and contractor expectations
and deliverables
n Operating strategies to increase
maintenance intervals while
extending asset life for reliable, cost-
effective service on mature FPSOs
n What role can remote inspection
play in the optimisation of safety
and production efficiency on mature
FPSOs?
Roundtable Hosts:
Peter Burridge
Naval Architect/Structural
TA-3
Maersk Oil
Conrad De Souza
Specialist Structural
Integrity Inspector - Energy
Division – Offshore
UK HSE
ROUNDTABLE
TOPICS
ROUNDTABLE 7 ROUNDTABLE 8
Nicolas Philippe, Offshore
Field Manager, TOTAL
The FPSO Roundtables
are a unique opportunity
to exchange with FPSO
professionals from the entire
value chain. It provides
you with a much-needed
helicopter view.
Paul Hesketh, Principal,
MPE
Excellent programme
structure, highly informative
and left me feeling enthused,
positive and prepared to make
changes for the better. Very
professionally run event.
Krishna Kumar, Interface
Manager, ENQUEST
A good event to exchange
ideas and to understand the
intricacies and important
issues related to FPSOs

1
www.fps
oworldco
ngress.co
m
INDOMITABLEFPSOs:
IN THE AGE OFUNCERTAINTY
Brought
to you by:
1
2015 PROFILIN
G REPORT
| A SNAPSHO
T OF THE FPSO MARKET
IN 2015/2016
T: (65) 6720 9388
| F: (65) 6720 3804
| enquiry@
iqpc.com.
sg | www.fpso
worldcon
gress.com
2015 PROFILING REPORTA SNAPSHOT OFTHE FPSO MARKETIN 2015/2016
2015 has proved to be a challeng
ing year for the FPSO industry
. The fall in oil prices has severely
impacted the market,
meaning
that industry
stakeholders now need to work together in order
to establish mutually beneficial, sustaina
ble business models and weather
the storm.
To discover
what the key industry
players are planning
over the short to mid-term, we have
compiled the findings
from our latest survey conducted with the attendees for our upcomin
g
event, the FPSO World Congress 2015. The following graphs provide insights
into the
top challeng
es faced by the industry
amid low oil prices, the market outlook
for 2016 and
investment priorities for some of the biggest companies operatin
g in the industry
.
www.fps
oworldco
ngress.co
m
THE FPSO MARKETIN 2016/2017
PROFILING REPORT
2015-2016 has proved to be a challenging year for the FPSO industry.
Sustained low oil prices have severely impacted the market, and
industry stakeholders are finding it critical to work together in order to
establish sustainable business models to push FPSO projects forward.
As the industry looks for opportunity in the downturn, it is now a top
priority to reassess the conventional way of conducting business and
delivery of on-time, on-budget FPSO projects.To discover what the key FPSO industry players are planning
over
the short to mid-term, we have compiled the findings from our latest
survey conducted with the attendees of our upcoming event, the 17th
Annual FPSO World Congress 2016. The following graphs provide
insights into the top challenges faced by the industry amid low oil
prices, the market outlook for 2016-2017 and investment priorities for
some of the biggest companies operating in the industry.
1
www.fpsoa
sia.com/
The floating productio
n, storage and offloadin
g (FPSO) sector is likely to see
between
$80-$12
0 billion-w
orth of investme
nt through
2019, and that is
with the oil industry
experien
cing its worst downturn
in a generatio
n.
With challengi
ng times ahead, we drew upon the best bellwethe
r in times of
industry
upheaval
- our vast and growing
members
hip of FPSO professio
nals
- to see where you believed
that 2015 was going to take us. Below is what we
found, according
to you, the citizens of the global FPSO commun
ity:
$80-$120
billion through
2019
FPSOs - WeatheringThe Storm Or SinkingBeneath The Waves?
THE HERE NOW
What
percentage
of your FPSO
projects are
conversions
vs. new builds?
62%
75-100%
5%
0-25%
6%
25-50%
17%
50-75%
18%
Americas
15%
North Sea
27%
Asia Pacific
29%
Africa
11%
Other
Where is your current geographicalfocus in terms of FPSO projects?
Which phase are yourprojects predominantly in?
PreFEED/F
EED
Execution
Operation
al
40%
46%
14%
Keep your finger on the pulse with the
latest market news and trends, industry
reports, infographics and much more...
Visit www.fpsoeuroperoundtables.com today.
HAVE YOU VISITED OUR
DEDICATED FPSO
DOWNLOAD CENTRE?
AN EXCLUSIVE
BY INVITATION
ONLY EVENT
The by-invitation-only FPSO Europe Roundtables are deliberately
designed to facilitate face-to-face, interactive discussions between
you and your peers. We qualify all attendees on job function and
responsibilityto ensure that you meet and engage with key FPSO
decision-makers that add value to these discussions.
REGISTER!
To request a complimentary invitation, please
contact me directly at +65 6722 9388 or
jasmine.whiting@iqpc.com.sg. Get in touch
today, as spaces are limited and issued on a first
come, first served basis.
THE WORLD’S LARGEST
NETWORK FOR THE FPSO
COMMUNITY
An international resource and content centre for the FPSO
professional, FPSO Network delivers the latest insightful
and unbiased information pertaining to the entire FPSO
value chain.
FPSO Network, part of IQPC and associated with the world-
famous FPSO Congress series, maintains the largest
international database of FPSO professionals offering
strategic partners, members, and contributors an
unparalleled opportunity to network, share ideas and
disseminate best practice information in designing,
executing, delivering and operating FPSOs across the world.
The FPSO Network provides research, training, and
networking for oil company, vessel contractor, EPC,
shipyard, financing, legal and solution provider
professionals from over 50 countries around the world.
Whether you come from an oil operator, upcoming vessel
contractor or established solution provider, FPSO Network
offers you the opportunity to connect, collaborate and
communicate with the global FPSO community.
Launched over a year ago the FPSO Network now has
over 10,000 members. To find out more please email
rani.kuppusamy@fpsonetwork.com
www.fpsonetwork.com

PARTNERSHIP
OPPORTUNITIES
HOW TO BECOME A MARKET
INTELLIGENCE PARTNER
The FPSO Europe
Roundtables is Not
Your Ordinary Event—
Can You Add Value to
the Discussions?
 Other than pre-qualified
and handpicked solution
providers who can prove
that they add value to the
roundtable discussions, this
event is closed to vendors
 Discussions will center
around efficiency
optimization, cost reduction
and pushing forward
projects in the current
market environment, with
leading project directors and
decision-makers highlighting
their challenges over 8 tables
Why is This Event
Valuable to You?
 Position your company
as a credible and valued
partner to 70 of your
hottest prospects from
oil companies, vessel
contractors and EPCs
 Respond to critical challenges
in the FPSO industry by
demonstrating how you
add value in face-to-face
discussions
 Meet and interact with key
prospects in the market
including Total, Premier Oil,
Enquest, SBM Offshore, and
many more
Becoming a Market
Intelligence Partner:
Partnership opportunities are
deliberately limited for this
exclusive roundtable dialogue.
Again, whether your company
qualifies to attend will depend
on whether you can add value to
our roundtable discussions.
Send us an executive summary
of your company and track
record to see if our VIPs and
end-user delegates approve of
your participation.
Call us at +65 6722 9388
or email enquiry@iqpc.com.sg
for more details.

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