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FPSO Vessel Revenue to Reach $8.30Bln by 2026
The global floating production storage and offloading (FPSO) vessel market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO vessel market is projected to reach up to US$8.30bn by the end of 2026.
SBM Acquires Constellation's Stakes in 5 FPSOs
SBM Offshore announced on Friday it has completed the purchase of Constellation’s equity ownership in the lease and operating companies related to five Brazilian floating production, storage and offloading units (FPSO). The Netherlands based…
Sarawak Seeks to Recoup Tax from Petronas
Malaysia's state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports. National news agency Bernama reported that the company…
Straightpoint, Crosby Partner on FPSO Project
PT. Dalaz Teknik Utama used a 12t capacity Radiolink plus Straightpoint (SP) load cell and a Crosby shackle of the same capacity to complete a series of tests during fabrication of a power generator module at a Wasco Energy fabrication yard in Indonesia. PT.
Petrobras on Track to Become World's Top Producer
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts. Brazil’s biggest-ever oil auctions in November were generally deemed to be disappointing…
Petrobras Sees Major Deepwater Shift in 2020
Brazil's state-owned oil firm Petroleo Brasileiro SA expects deep offshore areas to account for 88% of its exploration and production activities next year, up from 55% currently, an executive for the company said on Tuesday. The major shift…
NOV Wins Balder Pipe Work
Oilfield services firm NOV said it will provide more than 90 kilometers of flexible pipe systems for the Balder field in the Norwegian North Sea. NOV Flexibles, part of Subsea Production Systems within NOV's Completion & Production Solutions segment…
Jadestone Buys Operating Stake in Maari
Independent oil and gas producer Jadestone Energy announced it has entered a deal with OMV to acquire its 69% operational stake in the shallow water Maari project offshore New Zealand for $50 million. The Maari Project is a mid-life producing asset located in permit PMP 38160…
P-68 FPSO Starts Production
The Petrobras-operated P-68 floting production, storage and offloading unit (FPSO) has begun producing oil and natural gas from the Berbigão field, in the Santos Basin pre-salt, in the deep waters offshore Bazil. P-68 is the fourth unit to come into operation for Petrobras in 2019…
SBM Offshore Lifts Guidance
Dutch oil and gas services firm SBM Offshore on Thursday raised its full-year core profit and revenue outlook on better-than-expected performance in its turnkey division. For 2019, SBM Offshore now expects earnings before interest, tax, depreciation…
Foreign Players Unlikely to Bid in Brazil -BP Brazil Head
Foreign oil companies that have not joined Brazil's last two auctions of offshore "pre-salt" fields are also unlikely to bid next year, BP Plc's Brazil president told newspaper Valor Economico in an interview published on Wednesday. Adriano Bastos argued that…
Tullow Oil Shares Sink
Tullow Oil cut its outlook for production and cash flow because of persistent problems in Ghana, while revealing that the quality of oil recently discovered in Guyana was heavy in nature, sending its shares down more than 20%. Commenting for…
Japanese Firms in Brazilian FPSO Gig
Japanese companies have decided to proceed with the deepwater floating production, storage, and offloading system (FPSO) charter project for the Petrobras-operated Búzios pre-salt oil field located offshore Brazil. MODEC, Mitsui & Co., Mitsui O.S.K.
BMT Delivers Real Time Monitoring for Helang FPSO
BMT has delivered a Mooring Line Monitoring (MLM) system to London Marine Consultants (LMC) for the Helang floating production,s storage and offloading unit (FPSO) project on the JX Nippon-operated Layang gas/condensate field offshore Sarawak, Malaysia.
Partners Green Light Ærfugl Phase 2
The Ærfugl partners have decided to proceed with Phase 2 of the Ærfugl project in the Norwegian Sea, three years ahead of the original plan, operator Aker BP announced on Monday. The Norwegian energy company and its partners Equinor, Wintershall…
Petrobras Has No Interest in Farming out Buzios
Brazil's state-run oil firm Petrobras, which dominated this week's disappointing offshore oil auctions, has no interest in farming out its Buzios block to be operated by another firm, its head of exploration and production said on Friday. Major…
SBM Wins Guyana FPSO Contract from Exxon
SBM Offshore announced on Thursday that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the company contracts to perform front end engineering and design (FEED) for a third floating production, storage and offloading vessel (FPSO) in Guyana.
Big Oil Stuns Brazil in Back-to-back Auction Flops
Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA.
Brazil Govt Says Auction Rule Change Needed
One of the last big pre-salt rounds in Brazil finished on Thursday with only one block awarded, in another blow for authorities who have been criticized over the high cost of access to the areas. State-run Petrobras and a unit of China National Petroleum Corp were awarded the Aram block…
Goldwind Wins Certification LiDAR Tech
Chinese wind turbine manufacturer Goldwind is the world’s first OEM to receive DNV GL’s Component Certification for its LiDAR Assisted Control system. The certificate is issued according to DNV GL’s own Type and Component Certification Service…
Ghana Energy Official Calls for Regulatory Changes
Ghana's Deputy Energy Minister Amin Adam said on Wednesday that domestic laws must be changed to allow companies already producing to further explore offshore areas for more oil. "We're changing our law to allow companies that are already producing in a certain area to continue with exploration.