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Kvaerner Invests in New Quay at Stord

Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and…

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Singapore Marine Fuel Sales Surge 7.2%

Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed.

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Sberbank, Sovcomflot Sign $106m Finance Deal

The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years. The funds will finance the construction of a high ice class Arctic shuttle tanker (Arc7) for the Novy Port project…

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
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IKM Subsea Singapore Starts 2018 with Multiple Contracts

IKM Subsea Singapore said it has kicked off 2018 with a double contract award. The first is a contract to provide two remotely operated vehicles (ROV) for a floating liquefied natural gas (FLNG) mooring installation in Bangladesh. IKM Subsea…

High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship

Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman…

Chevron Mulling Participation in Brazil's March Oil Auction

Chevron Corp is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Tuesday on its website. The auction, slated for March 29, will offer 70 blocks in the offshore Ceará…

Petrobras CEO Sees Few Board Changes This Year

Brazilian state-controlled oil company Petroleo Brasileiro SA's board of directors should change little this year, Chief Executive Officer Pedro Parente said on Monday, amid meetings with government officials in Brasilia on the subject. "It…

Mero Field to Produce 40,000 bpd by End of Feb

Brazil's Mero field in the offshore Libra area should begin producing 40,000 barrels of oil per day by the end of February as part of a long duration test, an official at state-controlled oil company Petroleo Brasileiro said on Friday. Fernando Borges…

Total Announces Major Deepwater Oil Discovery in US Gulf

French oil and energy group Total said on Wednesday that it had made a significant oil discovery at the Ballymore prospect in the deep offshore in the U.S. Gulf of Mexico, its largest discovery in the area. "This major discovery gives us access…

Petrobras Making 'Interesting Discoveries' in Campos Basin -CEO

Brazil's state-controlled oil company Petroleo Brasileiro SA is making 'interesting discoveries' in blocs at the Campos basin, off the Rio de Janeiro coast, where it is drilling deeper to reach the pre-salt layer, Chief Executive Pedro Parente said on Wednesday.

Shell Makes Big Deepwater Oil Discovery in Gulf of Mexico

Oil major Royal Dutch Shell said its U.S. unit had made one of its biggest oil discoveries in the past decade in the Whale deepwater well in the U.S. Gulf of Mexico. The Whale is operated by Shell and co-owned by U.S. oil giant Chevron Corp.

Petrobras Settles Taxes Owed for Vessel Leasing Contracts

Brazil's state-controlled oil company, Petroleo Brasileiro SA, said on Monday it adhered to a federal tax refinancing program to settle taxes owed on vessel leasing contracts. Petrobras, as the company is known, said in a securities filing the…

Brazil Expects $1.1 Bln from Two Oil Auctions this Year

Brazilian oil regulator ANP expects to raise 3.5 billion reais ($1.1 billion) in signing bonuses in two oil auctions planned for this year. Decio Oddone, head of ANP, said on Monday the regulator estimates receiving 3.5 billion reais, below…

TMC to Equip FPSO Newbuild

Oslo based compressor supplier TMC Compressors said it has won a contract to supply the marine compressed air system for a new floating production storage and offloading unit (FPSO) currently being built in China for Dutch firm SBM Offshore.

Petrobras to Join Oil and Gas Climate Initiative

Brazilian state-controlled oil company Petróleo Brasileiro SA will join the Oil and Gas Climate Initiative (OGCI), becoming the 10th member of the group which aims to lead the industry's response to climate change. Petrobras' entry is subject to the approval of the OGCI and Petrobras' board…

Golar Agrees 15-year LNG Import Terminal Deal for Jamaica

Norwegian shipping company Golar LNG Partners will deploy a floating storage and regasification unit (FSRU) to Jamaica for up to 15 years from the fourth quarter of 2018, according to industry sources. An FSRU allows for the import of liquefied natural gas. On Jan.

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Golar LNG Bags New Long-term FSRU Contract

Golar LNG Partners announced that it has executed a 15-year charter with an energy and logistics company for the provision of an FSRU (floating storage and regasification unit) and related services in the Atlantic Basin. The charter provides…

Petrobras: Fire Contained on Platform in Lula Field

Brazil's state-controlled oil company Petróleo Brasileiro said on Tuesday a fire at a platform in the Santos Basin was contained and did not cause injuries or environmental damage. Production there remains halted until safety tests can be completed, the company said.

Shell Announces Plan for Penguins Filed Redevelopment

Shell announced the final investment decision for the Penguins field redevelopment project in the U.K. sector, which includes the construction of a new-build Sevan Marine designed cylindrical floating production, storage and offloading ( FPSO) vessel.

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SBM Offshore Hands over FPSO Turritella to Shell

SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V. Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017.

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