Stories

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Ocyan Aims for Bigger Offshore Platforms to Cement Comeback

August 4, 2020

Offshore oil industry supplier Ocyan plans to participate in bids for much bigger platforms than it currently has in Brazilian waters, the world’s largest market for floating platforms, Chief Executive Roberto Bischoff told Reuters. He said…

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Shell's Crux Gas Field Development Proposal Accepted

August 4, 2020

Australian offshore oil and gas safety regulator NOPSEMA has accepted Shell's offshore project proposal for the development of the Crux gas field in the Browse Basin, off the north coast of Western Australia. Consisting of a normally unmanned platform and five production wells…

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Brazil's Petrobras Posts $500M Loss Despite Record Exports to China

July 31, 2020

Brazilian state-run oil firm Petroleo Brasileiro SA on Thursday posted a loss of 2.7 billion reais ($524 million) in the second quarter, hurt by tumbling oil prices despite record export volumes to China. The result, down from a record quarterly profit of 18.9 billion reais a year ago…

Floating Production Systems Report And Online Database

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Cyprus Gets EBRD Loan to Buy FSRU

July 31, 2020

The European Bank for Reconstruction and Development (EBRD) will provide an €80 million loan ($94,7 million), alongside EU and EIB financing, for a floating storage and regasification unit in Cyprus The EBRD is providing an €80 million loan…

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UK: Oil and Gas Production Efficiency Hits 80% Three Years ahead of Target

July 31, 2020

Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target, the UK Oil and Gas Authority (OGA), said Thursday. Production efficiency is…

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EnQuest to Take Over Operatorship of Bressay Field from Equinor

July 31, 2020

Norwegian oil and gas company Equinor will sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to UK-based EnQuest. The initial consideration is GBP 2,2 million (USD 2,8 million)…

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ExxonMobil Finds More 'High-quality' Reservoirs Off Guyana, Hess Says

July 29, 2020

The U.S. oil major ExxonMobil has recently discovered two more high-quality oil reservoirs offshore Guyana, Hess, the company's partner in the prolific Stabroek block said Wednesday. To remind, back in January, ExxonMobil said it had struck its 16th oil discovery in the offshore block in Guyana…

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Hess' 2Q Loss Deepens. Oil Output Jumps

July 29, 2020

U.S. oil and gas producer Hess Corp reported a bigger quarterly loss on Wednesday, hurt by lower oil prices as the COVID-19 pandemic sapped global energy demand. Crude prices sank to historic lows in April as economic activity plummeted across…

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Woodside Weighs Blocking Lukoil from Joining Senegal Oil Project

July 27, 2020

Australia's Woodside Petroleum is considering whether to block Lukoil from becoming a partner in the $4.2 billion Sangomar oil project off Senegal, after the Russian firm agreed to buy Cairn Energy's Senegal assets . Woodside, 35% owner and operator of the Sangomar project…

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Var Energi Seeks $1B for Jotun FPSO

July 27, 2020

Norwegian oil and gas producer Var Energi, backed by Eni and private equity firm HitecVision, is seeking around $1 billion for its Jotun production ship, a source with direct knowledge of the matter told Reuters. Var would then lease the floating production…

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Russia's Lukoil Buys Cairn's Stake in Sangomar Field Offshore Senegal

July 27, 2020

Russian oil company Lukoil has signed an agreement with Cairn Energy to acquire a 40% interest in the Rufisque, Sangomar and Sangomar Deep) - RSSD - project offshore Senegal for $300 million in cash. The agreement also provides for potential…

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Webinar: Floating Production Forecasts & Analysis

July 24, 2020

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector. Floating Production Systems: 2020 Forecasts & Analysis…

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Petrobras Launches Tender for Buzios FPSO Trio

July 24, 2020

Brazilian state-controlled oil company Petrobras said on Friday it has approved the start of a tender to build three new floating platforms, known as FPSOs, in the Buzios oilfield, one of the biggest deepwater discoveries this century. Earlier in July…

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Exxon Names Country Head in Emerging Hot Spot Guyana

July 24, 2020

Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future. Alastair Routledge takes over after the company…

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Suncor Moves Terra Nova FPSO to Conception Bay

July 23, 2020

Canadian oil operator Suncor has moved its Terra Nova FPSO and docked it shoreside in Newfoundland after its planned drydock in Spain was canceled due to the COVID-19 outbreak. Suncor and its partners in the Terra Nova field in the Atlantic Ocean off Canada…

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Webinar: Floating Production Forecasts & Analysis

July 21, 2020

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector. Floating Production Systems: 2020 Forecasts & Analysis…

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Coronavirus Outbreaks Hit Petrobras' Quarterly Output

July 21, 2020

Coronavirus outbreaks at a number of platforms operated by Brazil's Petrobras hit production in the second quarter, the company said on Tuesday, though the firm indicated output may improve in certain regions. In a securities filing, Petroleo Brasileiro SA…

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VAALCO Energy Extends Charter for FPSO Petróleo Nautipa

July 21, 2020

Norwegian floating production vessel provider BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Petróleo Nautipa. The FPSO, deployed at the Etame field offshore Gabon for VAALCO Energy, will now have a contract until the third quarter of 2022.

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Shipments Resume from Pemex FPSO After Collision

July 19, 2020

An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge of the matter and data from Refinitiv Eikon.

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Westwood Expects 40 FPSOs to be Ordered in 2020-2024 Period

July 16, 2020

Energy industry analysts seem to agree that the future is bright, or at least brighter, when it comes to the contracting activity for the floating production systems, from 2021 onwards after COVID-19 and low oil prices hit the market in 2020.

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