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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.
Equatorial Guinea to Award 7-8 Blocks
Equatorial Guinea's Oil Minister Obiang Lima said on Wednesday that the central African nation would award 7-8 blocks from its current licensing round at the end of November. The country received a total of 21 bids on 13 blocks, out of 27 initially offered, Lima said.
Huge Brazil Oil Round Disappoints
A huge Brazilian oil auction, dubbed one of the largest ever, frustrated expectations on Wednesday, as high prices and tepid demand turned the widely awaited tender into an embarrassing miscalculation for the cash-strapped government. Brazil's…
Total to Sell Stake in Nigerian Offshore Block
Total is seeking to sell its 12.5% stake in a major deepwater oilfield off the coast of Nigeria, industry and banking sources said, in an effort to adjust the energy company's Africa portfolio amid a broad expansion. The stake in Oil Mining Lease (OML) 118…
Moment of Truth for Brazilian Oil Auction is Here
Executives from many of the world's biggest oil companies gathered in Rio de Janeiro on Wednesday to compete in Brazil's long-awaited transfer-of-rights (TOR) oil bidding round, the largest offer of crude and gas reserves in the nation's history.
Pecan Field Development Faces Delays
Aker Energy's planned development of an oilfield in Ghana faces delay due to a disagreement with authorities over regulations, Norwegian investment company Aker ASA said on Friday. Aker said in May it expected Ghanaian authorities to approve…
As Majors Eye Brazil's Deepwater, Smaller Firms Seize Opportunity
As global oil firms make ever-bigger bets on Brazil's massive deepwater fields in its 'subsalt' area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country's crude.
Delfin Delays Final Louisiana FLNG Project
Delfin Midstream Inc has delayed its plan to make a final investment decision on its proposed Delfin Floating Liquefied Natural Gas (FLNG) export terminal in the Gulf of Mexico off Louisiana to 2020 from 2019. Delfin said in a release on Tuesday…
MODEC Wins Barossa FPSO Contract
Partners in the Barossa project have taken another step toward a final investment decision (FID) with the awarding of the contract for the floating production, storage and offloading (FPSO) facility to MODEC International Inc., project partner Santos announced on Tuesday.
CNOOC Orders MacGregor Pull-in System
MacGregor has received an order from the China National Offshore Oil Corporation (CNOOC) to supply the riser pull-in system for a deepwater floating production unit (FPU) located in the Lingshui 17-2 gas field, offshore China. MacGregor, part of Cargotec…
DNV GL to Class Bay du Nord FPSO
Norwegian-based DNV GL said it has been selected as Equinor's certifying authority and classification society for Bay du Nord project, offshore Atlantic Canada. Located approximately 480 kilometers northeast of St. John’s, Newfoundland and Labrador…
Petrobras Says Pre-salt Costs Plummet
Brazilian state-owned oil company Petrobras said on Thursday that some of its costs in a key oil-producing region plunged in the third quarter, a positive sign given that the company is making a huge bet on the region. In a securities filing announcing its third-quarter results…
Brazil to Lead in Global FPSO Deployments
Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData. Brazil is expected to deploy a total of 11 planned and ten announced FPSOs by 2025.
Panoro Exits Nigeria
Panoro Energy said it will no longer operate in Nigeria following a deal to sell its interest in the OML 113 offshore license to PetroNor E&P for $10 million plus a contingent consideration of up to $25 million based on future production volumes.
Jadestone Submits FDP for Vietnam Gas Fields
Independent oil and gas company Jadestone Energy said it has formally submitted the field development plan (FDP) for its Nam Du and U Minh gas fields, offshore southwestern Vietnam, to Vietnam Oil and Gas Group (Petrovietnam), targeting first production in late 2021.
Petrobras Posts Another Major Production Boost
Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater, pre-salt zone showed signs of paying off. Investors and analysts have been watching the firm's production figures closely in recent quarters…
DNV GL Awards HHI AIPs for New FPSOs
South Korean shipbuilder Hyundai Heavy Industries (HHI) has obtained DNV GL's approval in principle (AiP) certificates for three models of its “Standard FPSO” design. Vidar Dolonen, Regional Manager of Korea and Japan at DNV GL – Maritime, presented the AiPs to Jun Sung Park…
Woodside Targets Scarborough FID in Early 2020
Woodside Petroleum Ltd has pushed out the final approval date for its mammoth Browse gas project but slightly brought forward plans to sign off on its smaller Scarborough project as it races to fill an anticipated global supply gap. Woodside…
SBM Secures Liza Unity Financing
SBM Offshore completed the $1.14 billion project financing of Liza Unity floating production, storage and offloading unit (FPSO), the Netherlands-based company announced on Wednesday. The project financing was secured by a consortium of nine international banks.
How Brazil's $26 Bln TOR Auction Works
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area.
Another Near Miss on the Terra Nova FPSO
Suncor Energy reported its third near miss in less than a year on board the Terra Nova floating production, storage and offloading unit (FPSO) stationed approximately 350 kilometers offshore Newfoundland and Labrador, Canadian authorities said.