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FLNG Production Bows out as US Exports Roil Market
Once considered the future of gas production, floating liquefied natural gas (FLNG) projects have been firmly relegated to the backburner as global gas producers seek cheaper ways to compete with a surge in U.S. shale supplies and slumping prices.
Libya: Air Strikes Aimed to Regain Oil Ports
East Libyan forces carried out air strikes around major oil ports on Saturday as they sought to regain control of the area from a rival faction, a military spokesman said. The eastern-based Libyan National Army (LNA) and allied forces retreated on Friday from Es Sider and Ras Lanuf…
Seadrill Could Be Heading for Bankruptcy
The oil rig owner SeaDrill could be forced into bankruptcy protection soon, if it fails to reach a restructuring agreement with its lenders, reports Reuters. The rig firm, controlled by John Fredriksen, is battling with $14 billion in debt and liabilities.
Shell Approves New Gulf of Mexico Project
Royal Dutch Shell has given the go-ahead to develop its Kaikias deepwater field in the Gulf of Mexico, the first such project the oil and gas company has approved in 18 months. Oil companies around the world are emerging from one of the longest…
Sparrows Group Bags 5-year Maersk Oil Contract
Sparrows Group has secured a five year contract to deliver hydraulic, lifting and rigging services for Maersk Oil’s UK floating assets. The agreement will see Sparrows support the operator in strengthening its lifting operations for the Global…
HHI's FSRU Unit equipped by GTT
GTT has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. This order includes a firm vessel and one option. The FSRU of 170…
DOF Vessel Awarded Prelude FLNG Work
TechnipFMC in Australia awards contract for the supply of MSV Geoholm to DOF's subsidiary DOF Subsea The DOF Group said its subsidiary DOF Subsea Australia Pty Ltd has been awarded a contract by Technip Oceania Pty Ltd, part of TechnipFMC in Australia…
First Iran FPSO Heading to South Pars Oil Layer
The CEO of Petroiran Development Company, Roham Ghasemi, said that the first Floating Production, Storage and Offloading (FPSO) vessel entered Iran’s territorial waters in the Persian Gulf. According to a report in MNA the official said the…
SBM Offshore Raises Dividend
Dutch oil-ship lessor SBM Offshore's full-year core profit (EBITDA) jumped 67 percent, driven by growth in its Lease and Operate business, the company said on Wednesday. SBM, which has been seeking a settlement after being accused of paying…
GTT Receives Order to Equip a New FSRU
GTT has received an order from Daewoo Shipbuilding & Marine Engineering (DSME) to equip a floating storage and regasification unit (FSRU) with its NO96 cryogenic membrane containment system. The vessel will be built at DSME's shipyard in Geoje…
Keppel Delivers FPSO for Brazil
Keppel Offshore & Marine’s shipyard in Brazil, BrasFELS, has delivered P-66, the first of the Replicante series of floating production storage and offloading (FPSO) units, to Tupi BV. Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly owned subsidiary…
Petrobras:P-66 leaves shipyard for Lula field
On Saturday (February 4), the floating production, storage and offloading vessel (FPSO) P-66 left the Brasfels shipyard in Angra dos Reis, Rio de Janeiro. It is now heading to the Lula Sul module in the Lula field, Santos Basin pre-salt, where it is expected to arrive in the next few days.
GTT Receives Order to Equip FSRU
GTT said it has received an order from Samsung Heavy Industries (SHI) to equip a floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. The new order also includes three optional FSRUs. The vessels will be built at SHI's shipyards in South Korea…
Diamond Offshore Sees Recovery when Oil 'Well over $60'
Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling. The company's shares reversed course and were down 2.3 percent at $16.67…
Keppel Shipyard to deliver FPSO
Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad…
Teekay, GTT Extend Technical Service Agreement
The shipowner Teekay and GTT have recently signed a Technical Service Agreement (TSA) extended with new advisory services. This agreement applies to 23 vessels equipped with the GTT technologies Mark III and NO96. In addition to the assistance…
Keppel Shuts Down Three Yards in Singapore
Keppel Corp , the world's biggest oil rig builder, is still hard hit by the downturn in the oil industry and will now shut down three yards in its homeland. Singapore-based offshore company Keppel reduced its direct work force by about one third.
ABS Issues RP for Hybrid Riser Systems
ABS has published the ABS Guidance Notes on Subsea Hybrid Riser Systems, the first set of recommended practices for hybrid riser systems in the offshore industry. “The introduction of new approaches like those being considered for hybrid risers has the potential to positively impact safety…
GTT Bags Order to Equip Höegh’s New FSRU
GTT said it has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. The vessel will be built at Hyundai's shipyard in Ulsan, on behalf of Höegh LNG Holdings Ltd.
Shell to sell $3B in North Sea Assets
Royal Dutch Shell is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive to reduce debt after buying BG Group. Chrysaor…
Oil Prices Fall as US Drillers Add Rigs
Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, easing the focus on efforts by OPEC and other producers to support prices by cutting supplies. U.S. crude futures for March delivery fell 98 cents…