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Swan, EXMAR Partner for India’s First FSRU Terminal
EXMAR has entered into a binding Term Sheet with Swan Energy Limited for the joint development and operation of the Jafrabad LNG Port project, to be located in the State of Gujarat, India. The Jafrabad LNG Port will be a 5 million tons per annum (MTPA) LNG receiving terminal…
Baksht Succeeds Swent as Ensco CFO
Ensco plc has named Jon Baksht the company’s new chief financial officer based in London, succeeding Jay Swent, who will retire at year end. Baksht was most recently vice president - finance after joining Ensco as vice president - treasurer.
Petrobras Cuts Planned Investment in 2015
Brazil's state-run oil firm Petroleo Brasileiro SA plans to invest $23 billion in 2015, less than the $25 billion expected previously, the company said in a presentation of its third-quarter earnings on Thursday. Petrobras said it expected to end the year with $22 billion in cash on hand…
SBM Offshore Hit By Slowing Industry Spending
SBM Offshore the world's top oil production ship leaser, said on Wednesday a fall in orders hit its third-quarter revenue as clients trimmed spending amid ongoing low oil prices. The Amsterdam-based company, which generates roughly 60 percent of its business in Brazil…
Engine Overhaul Aboard North Sea FPSO
Bluewater-owned offshore floating production, storage and offloading (FPSO) vessel Haewene Brim has undergone an engine overhaul at the hands of a team of diesel power specialist Royston Limited. The 252m, 103,000dwt FPSO, powered by main generating…
PFLNG2 Keel Laid at Korea’s SHI Yard
Petronas has laid keel for its second floating liquefaction plant, Petronas Floating LNG2 (PFLNG2), in Geoje Island, South Korea. Petronas, together with JGC Group and Samsung Heavy Industries (SHI), the consortium leading the engineering, procurement…
Roncador Field Still Flowing Despite Strike
Production from the giant Roncador offshore oil field in Brazil's Campos Basin continued on Wednesday after workers on the field's production vessels joined a four-day strike, an oil workers' spokesman said, denying media reports of an output shutdown.
SBM Offshore CEO Signs on for 4 More Years
Floating production services provider SBM Offshore N.V. announced that its chief executive officer Bruno Chabas has been reappointed to serve a second four-year term on the company’s management board. Chabas was reappointed today during a shareholders meeting for a term running into 2020…
Worst Petrobras Strike in 20 Years Endangers Debt Plan
A four-day strike against Petrobras gathered steam on Wednesday, cutting crude and natural gas output from the No. 2 South American oil producer and threatening to become the most disruptive walkout at the state-run oil company in 20 years.
Golar and WAGL Ink Ghana FSRU Contract
Golar LNG Limited announced today that it has executed a firm contract to provide West African Gas Limited (WAGL) with floating storage and regasification unit (FSRU) services to support their liquefied natural gas (LNG) import operations in Ghana.
FSP LNG Containment System Construction To Begin Soon
The joint venture group FSP LNG BV stated that it is taking the FSP LNG Flat Panel Semi-membrane Prismatic Type B containment system through General Design Approval (GDA) with the American Bureau of Shipping in Houston, and is projecting that…
RINA Group Widens Gas Sector Services
International classification, certification and engineering group RINA said it has widened its services to the global gas industry. While its traditional classification society arm RINA Services has recently approved a new Compressed Natural Gas carrier to aid the exploitation of marginal fields…
Golar Secures FSRU Golar Tundra Financing
Golar LNG Limited announced today that it has received an underwritten financing commitment for the December 2015 delivering newbuild FSRU Golar Tundra. Based on the current cost of the Tundra, the facility of up to $216 million, to be provided by China Merchants Bank Leasing…
First FSRU "Made-in-China"
Wison Offshore & Marine Ltd. held a ceremony to celebrate the keel-laying of the EXMAR FSRU project, a barged-based floating LNG regasification unit, in the dry-dock of Wison Offshore & Marine on October 20 in Nantong, China, marking the first important project milestone achieved by the company.
Brazil Gives SBM Ultimatum in $250M Bribery Settlement
Brazil has told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oilship market, a government source told Reuters.
FPSO Guide to Life Extension
There are new-builds, and there are conversions. In lean times, there’s also “life-extension” for FPSOs increasingly seen as the best hope of developing oilfields too pricy as platform projects. Life extension is about making first-time money…
SBM Offshore Nets FLNG Turret Contract
SBM Offshore in a statement informed that Technip SA (Technip) has awarded the Company the Front-End Engineering and Design (FEED) contract for three, large-scale turret mooring systems associated with the proposed Browse Floating Liquefied Natural Gas (FLNG) Development in Australia.
Golar Cameroon FLNG Project Update
Golar LNG Limited announced its Cameroon FLNG project has received approval and signature of the binding Tolling Term Sheet thereby confirming the commercial terms for the FLNG vessel Golar Hilli. Cameroon's state owned oil and gas company Société Nationale des Hydrocarbures (SNH)…
SBM Offshore Says Petrobras Discussions Ongoing
Floating production services provider SBM Offshore responded to media reports of a potential settlement with Petrobras regarding tenders in Brazil, stating the discussions are presently ongoing and a conclusion has not been reached. SBM Offshore…
Shell Starts Bonga Phase 3 in Nigeria
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) announced the start-up of production from the Bonga Phase 3 project. Bonga Phase 3 is an expansion of the Bonga Main development, with peak production expected to be some 50,000 barrels of oil equivalent, Shell said.
MOL, Gas Sayago to Continue Uruguay FSRU Project
Mitsui O.S.K. Lines, Ltd. today announced that the company has reached a basic agreement with Gas Sayago, a joint venture between Uruguay’s state oil company ANCAP and state power company UTE, to continue the floating storage and regasification unit (FSRU) project led by Gas Sayago.