Stories

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Teekay in Ten-Year FPSO Contract with BP

March 27, 2020

Teekay Corporation has secured a ten-year contract for its 1996-built Petrojarl Foinaven FPSO with Britoil Limited, a BP subsidiary, at the Foinaven field west of the Shetland Islands in the UK. Under the terms of the contract, Teekay is expected…

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Aoka Mizu FPSO Worker Tests Positive for COVID-19

March 27, 2020

Oil and gas firm Hurricane Energy has confirmed that a crew member on the Aoka Mizu FPSO off the UK has tested positive for COVID-19. Hurricane said Friday that the worker "has been evacuated to the mainland for medical reasons and subsequently…

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Woodside Halves Spending Plans. Delays Scarborough, Browse FIDs

March 27, 2020

Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices. Australia's top independent gas producer said…

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Covid-19 and Cheap Oil to Hit African pre-FID Oil Projects

March 26, 2020

Norwegian energy intelligence firm Rystad Energy expects that majority of Africa’s top planned oil and gas projects that were expecting final investment decisions under an oil price assumption of between $55 and $60 per barrel will be hit hard by the current oil prices and coronavirus impact.

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Golar Taps Oceaneering for FLNG Inspection and Maintenance

March 25, 2020

Offshore energy services provider Oceaneering has been awarded a contract by Golar LNG for an FLNG vessel maintenance build, and inspection and maintenance program. The scope of work includes an asset register build, a full maintenance build program…

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Woodside, Partners in Talks over $4.2B Sangomar Project Timing

March 25, 2020

Woodside Petroleum and its partners are in talks on the timing of their $4.2 billion Sangomar oil project off Senegal, with coronavirus restrictions and collapsing oil prices hampering work on the project. Woodside, Cairn Energy Plc, FAR Ltd…

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Only a Handful of FPS to Be Ordered in 2020, Down from 18 Expected

March 24, 2020

Energy intelligence company Wood Mackenzie has downgraded its expectations when it comes to new orders for floating production systems in 2020, citing the oil price crash. Mhairidh Evans, principal analyst in Wood Mackenzie’s upstream supply…

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New Oil and Gas Project Spending to Fall 68% in 2020 if Oil Price Stays Low

March 24, 2020

Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday. "The effect of the COVID-19 virus on global demand for oil and gas…

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Teekay Offshore Changes Name

March 24, 2020

Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name. The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective 24 March 2020.

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U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices

March 22, 2020

The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in…

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China's CNOOC to Load First Cargo of Guyanese Oil Soon

March 20, 2020

China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said. CNOOC has a 25% stake in…

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Energean Power FPSO Hull to Sail Away in "Coming Weeks"

March 19, 2020

Israel-focused oil firm Energean expects the hull of its Energean Power FPSO will set sail from China in the coming weeks, easing concerns of potential further delays, after it last month warned over the possible impact of the coronavirus outbreak in China on the FPSO construction.

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Equinor Puts Off Canadian Offshore Project

March 19, 2020

Norway's Equinor and Canada's Husky Energy have reportedly pulled brakes on the plan to develop the Bay du Nord project offshore Canada, Reuters reported on Thursday. "Equinor and partner Husky Energy have decided to defer the Bay du Nord development…

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Lankhorst Deepwater Mooring Lines for Liza Unity FPSO

March 18, 2020

Lankhorst Offshore reports it has been awarded a contract by SBM Offshore to supply the deepwater mooring lines for the Liza Unity Floating Production Storage and Offloading (FPSO) for ExxonMobil’s Liza oil field offshore Guyana, South America.

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Petrobras China-built FPSO Hull Reaches Brazil

March 18, 2020

China-built hull of Petrobras P-71 FPSO has reached Brazil where topside integration will take place at the Jurong Aracruz Shipyard (EJA). The 316 meters long, 54 meters wide, hull, built by CIMC Raffles, had set sail from China on December 12, 2019. It entered Brazilian waters on Monday, March 16.

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BW Energy Slashes Gabon Spending Plans

March 18, 2020

Oil and gas company BW Energy, with assets in Gabon and Brazil, has decided to cut down its planned Gabon investments by 50 percent, citing coronavirus outbreak, oil price uncertainty, and restriction on international travel. "The impact of…

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BW Pioneer FPSO Stays in Gulf of Mexico for 5 More Years

March 18, 2020

FPSO leasing specialist BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields in the U.S. Gulf of Mexico. The contract was signed with MP Gulf of Mexico, am 80/20 partnership with Murphy Oil and Petrobras.

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Repsol Sinopec to Tie-In Tain to Bleo Holm FPSO

March 17, 2020

UK-based oil and gas operator Repsol Sinopec is planning to apply for permission for the development of the Tain field in the Central North Sea, offshore the UK. The Tain field is located in Block 13/23b. The Tain field will be developed by…

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Petrobras Suspends International Travel Due to Coronavirus

March 16, 2020

Brazilian state-run oil firm Petroleo Brasileiro SA has suspended employees' international travel amid the global health crisis caused by the coronavirus, according to a statement on Monday. Petrobras, as the company is known, also said workers older than 65 years of age will have to work remotely.

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Brent, WTI Fall as Coronavirus Spreads

March 16, 2020

Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.

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