EPOCH 2019: Overcoming the Challenge of Weather Extremes in Offshore Projects
It’s been a tough few years for the oil & gas industry. The low-price environment, combined with operational pressures resulted in testing times across the board. But the future is now looking brighter for the sector, due, in large part, to more stable oil prices. The challenges now for offshore companies is to adapt their business models to this period of recovery.
At EPOCH 2019, these challenges - and the related opportunities - were the key topics on everyone’s mind.
What is EPOCH 2019?
EPOCH 2019 is an offshore industry congress held at Thessaloniki, Greece on 16th - 17th September 2019. Speakers included experts from drilling and rigging, offshore asset equipment manufacturers, oil & gas majors, government bodies, and solutions providers. Collectively, they shared their opinions on the likely trends and outcomes for the industry over the next decade.
New Growth Potential in Offshore
New growth potential was a major theme throughout the event. It’s predicted that previously underutilized regions will offer new opportunities. In particular, West Africa and the Mediterranean are highly rated because of their rich resources in subsea oil & gas.
Alongside this, technology and digitization promise to unlock opportunities in both new & existing markets.
Prepare for all (weather) conditions
As part of EPOCH 2019, MeteoGroup presented a session exploring the growing challenges that weather extremes present during the offshore project lifecycle.
In the offshore industry, timely, accurate and actionable weather data is critical. No matter where you are working globally, metocean conditions affect all areas operations. Therefore, reliable and accurate forecasting essential to increase operating thresholds and maximize vessel operability on a project.
At the same time, offshore companies around the world are being challenged to do more with less. The priority for many is to optimize operations, without compromising on safety at sea. Many offshore companies are, therefore, exploring how more accurate weather forecasts can help minimize expensive weather-related downtime and capitalize on the expected growth opportunities in the industry.
Weather data has a vital role in unlocking cost benefits in an offshore project, at in every phase of the project lifecycle. However, to use weather data strategically, raw weather data is only part of the solution. Making sense of the weather for your company or project also relies on knowing historical weather data and forecasting the future. In short, the more you know about weather patterns, the more strategic your decision making will be.
To find out more, download The Offshore Weather Forecasting Guide: How It’s Made