President Lu Jianzhong visited F&G Houston in early May, during which he held talks with a delegation led by Huang Qingfeng, General Manager of ZPMC on how to deepen cooperation in current market environment, and attended the 2018 Offshore Technology Conference (OTC 2018).
On April 30, Pres. Lu met with Paul Geiger and other senior executives of F&G at F&G's headquarters office. Paul analyzed oil prices and the latest trend of the offshore engineering market. Then Pres. Lu discussed with F&G's management on comparative advantages of F&G's different products, the reduction in operating costs of F&G's owners, F&G's cooperation with ZPMC, the situation of F&G's key competitors and the situation of internal human resources.Pres. Lu encouraged F&G to seek feasible and diversified paths while consolidating its competitive advantage, pay close attention to the trend of oil prices, make timely response to market changes and work out rational R&D plans.
On May 2, Pres. Lu, the ZPMC delegation and F&G's management held a tripartite meeting. ZPMC and F&G exchanged views on market needs for different products and in different areas, and exchanged ideas on the previous cooperative projects and potential fields for cooperation, including R&D cooperation (multi-purpose platforms and drilling ships), upgrading and renovation of jacking systems based on customer needs (existing jointly designed and manufactured products and new extended products), and future market development cooperation (Brazilian market, deep sea scientific drilling ships and decommissioning unit). Both sides have arranged focus group to coordinate different projects, and will strive to advance information sharing, joint market surveys and early customer visits, tap cooperation potential and seize market opportunities in the future.
During OTC, Pres. Lu visited booths of oil & gas companies, offshore engineering manufacturers, offshore engineering suppliers, consulting enterprises and other professional companies, listened to relevant exhibitors' presentations on market prospect and technology trend, and acquired further knowledge of the latest market trend and development concepts of top-tier offshore engineering enterprises.