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Statoil Likely to Pick Floating Facility for Big Arctic Field
Statoil is more likely to develop the $15.5 billion Johan Castberg field in the Arctic using a floating production storage and offloading (FPSO) installation than via an oil terminal on land, a senior company executive said on Thursday. Last…
Floating Production System Orders Outlook
An EPC contract for a production unit can easily exceed $1 billion – and $3 billion for an FPSO has recently been breached. Overall, this is a $20 to $30 billion annual market. But, as described below, the sector is hitting some headwinds that could impact future business opportunities.
Uganda Repossesses Oilfield From Tullow
Uganda said it repossessed an oilfield that belonged to Tullow Oil Plc after the period allotted to appraise the site expired. The London -listed exploration company said the field was uneconomical. Uganda expects to start pumping…
Kongsberg's integrated control and safety system for Teekay's Gina Krog
Kongsberg Maritime Engineering (KME) has signed a contract with Gina Krog LLC, a subsidiary of Teekay Shipping AS, for supply of an Integrated Control and Safety System (ICSS) and Power package to the Gina Krog FSO (Floating Storage and Offloading) unit…
Petrobras’ Platform P-62 Begins Production
Petrobras announced that production platform P-62, one of the strategic projects of its 2014-2018 Business and Management Plan, started-up on this Monday, May 12, in Roncador field, Campos Basin. P-62, installed at a water depth of 1,600 meters…
KME to Supply Equipment for Gina Krog FSO
Kongsberg Maritime Engineering (KME) has signed a contract with Gina Krog LLC, a subsidiary of Teekay Shipping AS, for supply of an Integrated Control and Safety System (ICSS) and Power package to the Gina Krog FSO (Floating Storage and Offloading) unit…
Japan's JX to Develop Offshore Malaysia Gas Field
JX Nippon Oil & Gas Exploration Corp said on Monday it had decided to develop Layang gas field off the coast of the Malaysian state of Sarawak on Borneo island for an undisclosed sum, aiming to start production in April-June 2016. Layang field…
Lundin Hits North Sea Grieg Field Oil
Swedish oil firm Lundin Petroleum has found oil while drilling an appraisal well at its Edvard Grieg find in the North Sea, the Norwegian Petroleum Directorate said on Monday. Lundin Petroleum is the operator of Edvard Grieg and has a stake of 50 percent.
Nigeria Should Break up Oil Bill to Speed Passage -Minister
Nigeria should break up its long-awaited oil bill to speed its passage through parliament, Oil Minister Diezani Alison-Madueke said on Friday. The Petroleum Industry Bill (PIB) will reform oil taxes and licences and overhaul state-owned Nigerian National Petroleum Corporation (NNPC).
Start-up Deep Sea Installation Enters FPSO Market
Deep Sea Mooring (DSM), a supplier of mooring solutions and services for the offshore industry, is backing the launch of a new, specialist business dedicated to subsea installation solutions. Deep Sea Installation (DSI), which will initially focus on the FPSO segment…
Trelleborg Selected for FPSO Water Injection Package
The pump manufacturer Ruhrpumpen has chosen Trelleborg Gimbal Mountings for its water injection package for LNG in Gjerdrum, Norway. The package is placed on a special designed Floating Production, Storage and Offloading (FPSO) unit from Sevan Marine, the Sevan Voyageur.
HSOG, Chowgule Create India Offshore Service Hub
International oil and gas service specialist HSOG has joined forces with the Chowgule Group, a multi-industrial International conglomerate, to offer a full range of maintenance and modification services to the offshore sector to service the international market.
Lankhorst Mooring Ropes for Western Isles Development FPSO
Lankhorst Ropes won a contract by Aberdeen based Dana Petroleum to provide Gama 98 polyester mooring lines for the Western Isles Development FPSO vessel (Floating Production Storage and Offloading). Given the weather conditions in the North Sea…
Gresik-Semarang Gas Pipeline Project To Start In June
PT Pertamina Gas (Pertagas), a unit of Indonesia 's state oil and gas firm Pertamina , expects work on its 271-kilometer gas pipeline project linking Gresik and Semarang to commence in June, said CEO Hendra Jaya . The $500-million project is expected to be completed within 18 months.
McDermott Fast-Track Indonesia Offshore Heavy Lift Barge
McDermott International, Inc. apprise that the Derrick Barge 101 was recently mobilized to Indonesia to perform fast-track heavy-lift work for a client offshore Indonesia. Response time to fast-track work is just one of the key elements to a successful project outcome…
Exxon Mobil Corporation Declares Q2 Dividend
The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of 69 cents per share on the Common Stock, payable on June 10, 2014 to shareholders of record of Common Stock at the close of business on May 13, 2014.
ABS Reports Continued Successes in 2013
ABS hosted its Annual Meeting in New York on April 29, 2014. ABS Chairman and CEO Christopher J. Wiernicki said, "ABS had another strong performance year and achieved several milestones during 2013 as the global economy began to strengthen."…
The History of Offshore Energy
Offshore exploration is a history of man v. nature, with ever bigger technology and investment Prospecting for oil is a dynamic art. The greatest single element in all prospecting, past, present and future, is the man willing to take a chance…
Spike Increases Barents Sea Presence
Spike Exploration Holding AS (Spike) has recently signed an agreement with Tullow Oil Norge AS to swap a 15% interest in licence PL494/B/C for a 15% interest in PL722. PL722 is located in the Hoop area in the Barents Sea. The prospectivity of the PL722 acreage is very attractive…
XPD8 Seals Ghana FPSO Contract
Asset integrity management specialist XPD8 Solutions said it has continued its recent success in West Africa for work off the coast of Ghana. Over an 18-month period, the company will develop the maintenance program and inventory data for MODEC’s TEN MV25 floating production…
North Sea Crude-Forties Firms on Buzzard Supply Cut
North Sea Forties crude differentials rose on Friday, supported by the ongoing supply cut from Nexen's Buzzard field, which has delayed loading of a number of April and May cargos. Nexen said this week that output from the Buzzard oilfield had…