OSEA2016 Presents Tech Innovations and Solutions to Improve Business Sustainability in a Challenging Market
Singapore, 29 November 2016 – The industry’s search for capital efficiency and business sustainability amid depressed oil prices is spotlighted at OSEA2016 – Asia’s pinnacle oil and gas exhibition and conference. The four-day industry event featuring more than 1,000 exhibitors from 48 countries/regions including 17 international group pavilions opened today and will run till Friday, 2 Dec 2016 at Marina Bay Sands, Singapore.
“Undoubtedly the last two years have been challenging, as the industry has had to get used to a new environment of lower oil prices. Over this period, we have seen a major shift to firms streamlining operations and seeking out efficiency to drive costs down and survive in this market. With that in mind, we have ensured that OSEA2016 is a place where businesses can find innovative technologies, sustainable solutions and insights and strategies that will help ease pressure on the bottom line,” says Chua Buck Cheng, Project Director from OSEA organiser Singapore Exhibition Services.
Tech Innovations at OSEA2016
With reducing operational costs and increasing capital efficiency now a top priority for oil and gas firms in the value chain, many are turning to technology to achieve lower reliance on human capital through automation and mechanisation, increase personal safety to reduce risks and incidences, and improve communication and data networks to elevate asset performance.
At OSEA2016, Rutledge Omni Services one of the leading providers of safety services for upstream drilling and exploration activities in the region will be unveiling an IoT device that allows real-time personnel tracking on an oil rig. It will be the first solution on their digital platform dedicated specifically for safety, health and security for the oil and gas industry. Conceptualised and developed in Singapore, the location tracker is a first of its kind made to overcome challenges and to serve purposes specific to oil rigs.
“The day rate of a rig is the biggest cost to operators, and therefore time saved translates to dollar savings. Mandatory precautionary drills are a weekly activity on any rig, and the IoT device allows for a head count in real time. Another time-saving activity is in the quantification of a contractor’s billable time. This can be automated to provide an independent verification of chargeable time sheets. However, the greatest benefit is improved personnel safety. Locating and rescuing injured rig crew will reduce loss time due to injury. Fatalities may be averted because the time taken by search parties to reach the injured will be very much shortened. Help can be correctly directed to the right location of the injured person,” says Anne Joseph, CEO of Rutledge Omni Services.
Showcasing a fleet of agile and adaptable robotic inspection tools, Inuktun will launch the MicroMag and Versatrax Vertical Crawler in Asia at OSEA2016. Inuktun’s Multi-Mission Modular (IM3) technology allows for the systems to be repurposed in the field for a variety of different applications in air or underwater – from pipe inspection to ship hull examination and PTZ camera applications in wells, pressure vessels and caissons.
Commenting on how firms are able to achieve cost savings through the use of their technology, David Wynne, President and CEO of Inuktun Asia says, “Inuktun’s technology offers a robotic alternative to many applications currently requiring man-entry or rope access, therefore reducing the risk to human life and the expenses associated with those activities. These cost effective benefits are of more interest than ever as producers seek to reduce the costs of extraction. With the expansion of our representation in the ASEAN community, OSEA2016 provides a venue wherein the region’s energy and subsea professionals can gain hands-on experience with our equipment, and further their understanding of our technology and what it can accomplish.”
Developing the LNG Value chain in Asia
Singapore’s ambition to establish itself as the region’s LNG hub, and Asia Pacific accounting for nearly 70 per cent of global LNG demand, provides a promising base for local firms to tap opportunities within this growing sector.
One such example is OSEA2016 exhibitor SSB Cryogenic Equipment, who is a member of Sing Swee Bee Group (SSB Group) – the only Singapore company and one of only four in the world certified by Gaztransport&Technigaz (GTT) – the global leader with a 2/3 market share of new built LNG carriers, to render LNG membrane global tests for GTT’s cargo containment system. SSB Group will sign a joint venture partnership at OSEA2016 with Gabadi – the first company to obtain a license from GTT for outfitting LNG membrane vessels, for the construction of small-scale LNG membrane vessels, and to develop local capabilities in LNG membrane repair.
SSB Group will also be showcasing their capabilities in membrane tank integrity testing and construction of small-scale LNG membrane vessels suitable for ship-to-ship break-bulk LNG coastal distribution and off-shore storage, as well as their small scale LNG supply chain solutions for Southeast Asia, Australia and New Zealand.
“This joint venture will allow SSB Group to bring the engineering technology, expertise and experience in LNG membrane construction to this region, and develop local capabilities in this field. This bodes very well and complements Singapore’s efforts in building a regional LNG hub,” says Peh Lam Hoh, Managing Director of Sing Swee Bee Group.
“With our small scale LNG supply chain solutions, we are looking at bridging the current gaps in supply options between the current LNG bulk supply and the needs of small to mid-size users via break-bulking and to transport smaller volumes of LNG to these users. The thrust is about getting smaller volumes of LNG to those who needs it most,” he adds.
Revamped OSEA2016 International Conference
The OSEA2016 International Conference features 13 masterclass sessions held from 29 Nov to 1 Dec 2016, under three tracks titled Asset Optimisation, Operational Excellence, and Sustainable Growth. The morning plenary session on 30 Nov will open with a keynote presentation titled The Overview of the Oil & Gas Market and Tiding over the Challenges by Mark A. Edmunds, Asia Pacific Oil and Gas Leader, Deloitte. This will be followed by country focused sessions on Norway by His Excellency Tormod C. Endresen, Ambassador of Norway to Singapore, Australia by Mr David Campbell, Minister (Commercial) & Senior Trade & Investment Commissioner, Australian Trade and Investment Commission, The Netherlands by His Excellency Jacques Werner, Ambassador of The Netherlands to Singapore, and The United Kingdom by His Excellency Scott Wightman, British High Commissioner to Singapore.
These country sessions will spotlight oil and gas and offshore/marine technology developments and collaborative opportunities with major firms from the respective countries.
Featured alongside OSEA2016, the second edition of OGmTech is back to present advanced manufacturing solutions for the oil and gas sector, and SUBSEA Asia – the exhibition and conference dedicated to subsea equipment and services, will be held at OSEA for the first time.