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Aoka Mizu FPSO Hooks Up to Lancaster Field
Hurricane Energy's floating production, storage and offloading (FPSO) vessel has been connected to the group's North Sea Lancaster oilfield, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.
Petrobras Prices $3 Bln in Bonds
Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday. Petrobras, as the state-run company is known…
Petronas FLNG Relocates to Sabah
Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) said on Wednesday it had relocated its floating liquefied natural gas facility to the eastern state of Sabah, nearly two years after it began operations. The Petronas FLNG (PFLNG) Satu is now moored in the Kebabangan cluster field…
Eni Makes Major Oil Find Offshore Angola
Italian oil major Eni said on Wednesday it has made a major discovery in Block 15/06, in the Agogo exploration prospect, in the deep waters offshore Angola. The find is Angola's largest offshore discovery in years. Eni said the discovery is estimated…
Petrobras Plans to Slash Opex by $8.1 Bln
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday. Petrobras said…
First US FLNG Project Moving Ahead
Plans to construct a U.S. floating liquefied natural gas (FLNG) vessel in China, which may also provide funding and buy part of its output, are moving ahead despite trade tension between the countries, an executive at one of the partners said on Thursday.
FPSO Market to Reach $66Bln by 2026
The global floating production storage and offloading (FPSO) market was valued at around US$ 25 Bn in 2017 and is anticipated to expand at a CAGR of around 12% from 2018 to 2026, said a new report. Based on type, the global FPSO market can be divided into converted…
BW Offshore Cleared to Buy Brazil Oilfield
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday. Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake.
BW Offshore May Buy Brazilian Oilfield
Norway's BW Offshore is considering whether to buy Brazil's Maromba oilfield from Petroleo Brasileiro (Petrobras) and Chevron, for an undisclosed price, the Oslo-listed company said on Monday. A final deal is subject to board approvals and other conditions…
TechnipFMC Wins EPCIC Contract for Tortue/Ahmeyim FPSO
TechnipFMC announced Friday it has been awarded a contract from BP for the engineering, procurement, construction, installation and commissioning (EPCIC) of the floating production storage and offloading (FPSO) unit to be deployed for the Greater Tortue Ahmeyim project offshore West Africa.
Yinson, First E&P in USD902mln FPSO Deal
Malaysia’s floating production storage and offloading (FPSO)-operator Yinson and Nigerian oil company First Exploration & Petroleum Development Company Ltd (First E&P) have executed a contract for an FPSO to be deployed offshore Nigeria. The…
Brazil to Offer Areas with 'Significant' Oil Volumes
The Brazilian government will offer in an auction in October production sharing contracts for companies to explore areas that it says hold "significant volumes of oil and gas", the country's energy council CNPE said on Thursday. After a meeting in Brasilia…
Petrobras: First Annual Profit in 5 Years
Brazilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday as it swung to a net profit in the fourth quarter, although one-time provisions and writedowns led it to miss estimates. In a securities filing…
Global FPSO Market to Hit USD30Bln by 2025.
The floating storage and offloading (FSO) vessel market is anticipated to surpass USD 30 billion by 2025, said a study. The FPSO market is set to witness vigorous growth on account of shifting trends toward offshore exploration & production driven by depleting onshore oil & gas reserves…
Golar to Supply FLNG for BP
Golar LNG Limited announced Tuesday that its newly incorporated subsidiary Gimi MS Corporation has entered into a 20-year Lease and Operate Agreement (LOA) with BP for the charter of a floating liquefied natural gas (FLNG) unit, Gimi, to service…
Petrobras P-58 Spill Under Investigation
Brazil's oil regulator said on Monday that is has started an investigation into an oil spill at an offshore platform owned by Petroleo Brasileiro SA. On Saturday, about 188 cubic meters of oil leaked from the offshore P-58 platform, which is located in the Campos basin…
Woodside Selects MODEC for SNE Field
Australian petroleum exploration and production company Woodside Energy has awarded MODEC International the front-end engineering design (FEED) contract for the SNE Field Development Phase 1 floating production storage and offloading (FPSO) facility.
Australia Leads FPSO Deployment in AsiaPac
A total of 67 floating production, storage and offloading (FPSOs) vessels are expected to start operations globally by 2025, with Australia leading the Asia-Pacific region. Globally, 67 planned and announced FPSOs are expected to start operations between 2019 and 2025…
Petrobras Kicks Off Third Buzios FPSO
Brazil's state-run oil company Petroleo Brasileiro SA (Petrobras) has started producing oil and gas from the P-76 FPSO in the Búzios field in the Santos Basin, offshore Brazil. The oil and gas company said that with a daily capacity to process up to 150…
Babcock Wins BW Catcher Contract
Babcock said it has been awarded a four-year framework contract for brownfield fabrication and modification projects on the BW Catcher, a floating production, storage and offloading vessel (FPSO) owned by BW Offshore. The scope of the contract includes engineering…
2021 to See 33 More FPSOs
A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021 as oil and gas activity picks up in the offshore sector. Norwegian oil and gas intelligence firm Rystad Energy reports that 15 of…