Stories

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BP Starts Production at Angola's Platina Oilfield

November 25, 2021

BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output. The Platina field will be linked to BP's existing Greater Plutonio floating production…

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SHI Demos SENSE IV, Its Own Natural Gas Liquefaction Process

November 25, 2021

Samsung Heavy Industries announced on November 18 that it successfully held a demonstration ceremony at the Geoje shipyard for "SENSE IV (SAMSUNG Enhanced Nitrogen Split Exapnsion IV)", SHI's in-house natural gas liquefaction system. The demonstration…

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PJV to Equip Brazil-bound FPSO Duo with Valves

November 23, 2021

PJ Valves (PJV), a manufacturer and supplier of valves for the energy industry, has secured orders to supply valves for two FPSOs in Brazil. One of these FPSOs is planned to be one of the largest offshore oil producing units in the world. The FPSO…

Floating Production Systems Report And Online Database

  • Annual five year outlook and forecast – At the start of each year we prepare a detailed assessment of future deepwater development and forecast the pace of orders for floating production systems over the next five years. Our 2021 annual report looks at market conditions likely to prevail through 2025 and provides our assessment of which of the 200+ floater projects in the planning queue will reach the final investment decision by end-2025
  • Monthly reports - Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In our May report we revisit the annual forecast and make revisions as needed.
  • Online database - The online database is updated every day – with information direct from primary sources. In the database are details for 200+planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. Data are easily exported to excel spreadsheet.
  • Customer support - We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

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Guyana to Request Stronger Financial Guarantees from Oil Operators

November 23, 2021

Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters. Guyana currently requires financial assurance…

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80 New Jobs in Aberdeen: PD&MS to Modify Dana Petroleum's FPSOs

November 18, 2021

Engineering and construction company PD&MS Group has secured a contract to carry out modifications on Dana Petroleum's Triton and Western Isles FPSOs in the UK North Sea. The contract, of an undisclosed value, is expected to create up to 80 new jobs at its Aberdeen base.

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SBM Offshore to Build Fourth FPSO for Exxon in Guyana

November 17, 2021

Dutch FPSO specialist SBM Offshore has won contracts to perform Front End Engineering and Design (FEED) for an FPSO for Exxon's Yellowtail development offshore Guyana. The FEED contract for what will be Guyana's fourth FPSO, and fourth delivered by SBM Offshore…

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Hurricane Energy Says Talks with Bluewater Over FPSO Deal 'Positive'

November 16, 2021

Hurricane Energy, a UK-based oil firm producing oil from the Lancaster offshore field in the UK, has said it has had positive talks over the Aoka Mizu contract extension with owner Bluewater. Hurricane Energy, which started producing from the…

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Malaysian FPSO Firm Yinson Signs $5.2B LoIs with Petrobras for IPB FPSO Charter and Operations

November 15, 2021

Malaysian FPSO supplier Yinson has signed two letters of intent with Brazilian oil company Petrobras for the charter, operations, and maintenance of Integrado Parque das Baleias (“IPB FPSO”), a floating, production, storage, and offloading vessel in the North Campos Basin, offshore Brazil.

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Eni: Coral Sul FLNG Complete and Ready to Sail Away to Mozambique

November 15, 2021

Italian energy industry giant Eni said Monday it had held the naming and sail away ceremony for the Coral-Sul FLNG unit, the first floating LNG facility ever to be deployed in the deep waters of the African continent. The event took place at Samsung Heavy Industries shipyard in Geoje…

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Report: Exxon, SBM Offshore in Talks to Build Fourth FPSO for Guyana

November 12, 2021

Exxon Mobil is in discussions with Dutch contractor SBM Offshore NV to build a fourth multibillion-dollar production unit to develop its Guyana oil discoveries, two people close to the negotiations said. The talks include the potential for some future platform assembly in Guyana, the people said.

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SBM Offshore Revises Revenue Guidance on FPSO JV Deferral

November 11, 2021

Oil services group SBM Offshore on Thursday revised its full-year revenue guidance, citing a deferral in the expected timing of a floating production storage and offloading (FPSO) joint venture. The Dutch company, which supplies floating oil and gas production vessels…

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ExxonMobil 'Back on Track' to Meet Target to Double Earnings -CEO

November 10, 2021

Exxon Mobil Corp's chief executive said on Wednesday the company is confident it will hit a target to double earnings and cash flow from operations, adding that consumers and governments must decide how quickly the world moves to cleaner fuels.

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Aker Solutions Wins Wisting FPSO FEED

November 10, 2021

Norwegian oil and gas firm Equinor has awarded Aker Solutions a front-end engineering and design (FEED) contract for an FPSO to be deployed at the Wisting oil field in the Barents Sea, offshore Norway. According to Equinor, valued at around NOK 350 million…

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BW Offshore's FPSO to Stay in Nigeria for One More Year

November 8, 2021

Norwegian floating oil and gas production systems owner BW Offshore has secured a one-year contract extension in Nigeria for one of its FPSOs. The contract, with Addax Petroleum Exploration (Nigeria) Ltd, is for the lease and operation of the FPSO Sendje Berge.

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Coral Sul FLNG Project on Track, Eni Says

November 5, 2021

Claudio Descalzi, CEO of the Italian oil and gas giant Eni on Friday met with Filipe Nyusi, President of Mozambique, where Eni is working to develop giant offshore gas reserves using a floating LNG unit. Descalzi updated President Nyusi on the Eni-led Coral South Project…

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Record Number of Floating Production System Awards Expected Over the Next 18 Months

November 1, 2021

Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER.

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Orcadian Gets Three FPSO Proposals for Pilot Field

October 28, 2021

Orcadian Energy, a UK North Sea-focused oil and gas development company previously known as Pharis Energy, has said it has received three expressions of interest for the provision of an FPSO for its Pilot field development. The company engaged…

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Hess Sees 1 Million bpd Oil Output from Guyana by 2027

October 28, 2021

Hess Corp expects to produce more than 1 million gross barrels of oil per day (bpd) in Guyana by 2027 from at least six production units, the U.S. oil producer said on Wednesday. The projection comes shortly after a second floating production…

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Liza Unity FPSO Reaches Guyana

October 27, 2021

Exxon Mobil Corp's second floating production system for Guyana, the Liza Unity, arrived early on Tuesday in the South American country's waters, the U.S. oil company said. The production storage and offloading (FPSO) facility is expected to add 220…

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LNG Demand to Rise 25-50% By 2030 - Morgan Stanley

October 25, 2021

Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50% by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday. Morgan Stanley has raised its long…

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