Negotiations are on with organizers in the city to "continue to bring this great sport to Asia and Singapore", Formula One Chief Executive Officer Chase Carey said in an interview with Bloomberg Television's David Ingles.
This weekend marks the 10th Singapore Grand Prix - the last under the night race's existing contract.
"We're actively engaged in that discussion and it is our goal to reach an agreement that works for the both of us".
On 13 September, Carey confirmed that although nothing has been confirmed yet, the Formula one official is discussing the extension of the contract with their Singapore partners.
The race, along with China, is provisionally part of next season's 21-round schedule but is marked by an asterisk as subject to confirmation by F1's commercial rights holder.
"We're proud of the race, we have a good relationship and our goal is to get to a place where we build on that partnership long-term", Carey, who replaced Bernie Ecclestone as the sport's CEO in January, said in a keynote address at the conference.
"Singapore is one of the gateways into Asia and its incredible story of growth in the last 50 years captures the world's imagination".
Singapore anchors our Asian strategy, it is the signature race for Asia.
"I'm not going to speak for Honda".
The race has become known for its pop concerts and entertainment alongside the grand prix, and Carey praised the organisers for being "ahead of the curve" in the drive to broaden the fan experience.
"We will re-energise TV coverage with graphics and sounds, and make the sport more understandable".
Carey also said he supported a revamp of F1's system of penalties, after laughable scenes in Italy when nine drivers were sanctioned a total of 150 grid places, mainly for technical infractions.
Despite concerns growing that F1 could lose its standing in Asia having seen the Malaysian Grand Prix drop off the 2018 calendar Carey has moved to assure stakeholders the Singapore race will remain a firm fixture in the sport.
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