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Future Thinking: Geopolitical forecast for 2024


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In this episode we speak to a company at the heart of a major operation to transfer more than a million barrels of oil from a decaying floating storage and offloading unit (FSO) off the coast of Yemen.

The operation to remove the oil from the FSO Safer was sanctioned by the United Nations and took place to prevent a major environmental disaster. It meant months of planning, as well as negotiations with the local Houthi leaders, to ensure the transfer could take place safely.

A team from SMIT Salvage, part of Boskalis, led the operation. We hear from Operations Manager Paul Van ‘t Hof and Robert Meijer, who is Manager of Projects, who were both in Yemen as the transfer took place. We are also joined by Joseph Divis, Underwriting Director, Offshore & Renewables at NorthStandard, to look at how NorthStandard helped ensure this operation could take place.

Highlights:

01:52 North Standard's Role and Relationship with Smit Salvage

03:03 Challenges and Complexities of the FSO Safer Project

04:45 Security Concerns in a War Zone

06:01 Multi-Agency Coordination and Approval

09:27 Personal Reflections and Safety Measures

13:30 Technical Aspects of the Oil Transfer Operation

15:00 Execution and Completion of the Operation

18:42 Lessons Learned and Final Thoughts

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AlongsideBy NorthStandard