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Aker Solutions to Supply Umbilicals for Liuhua FPSO
Aker Solutions said it has been contracted to deliver power umbilical systems to China National Offshore Oil Corporation's (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong. The order, which is said to be worth more than NOK 350 million ($36.6 million)…
Woodside Petroleum Half-year Profit Rises
Australia's Woodside Petroleum Ltd said on Wednesday that its first-half net profit rose 6 percent and it raised its 2018 production outlook after strong performances from its Wheatstone and Pluto LNG projects. For the 2018 fiscal year, Woodside…
Global FPSO Market to Exceed USD 115 bln by 2024.
Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth. Increase in the conversion…
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Ampelmann Six New North Sea Contracts
Offshore access solutions provider Ampelmann said it has strengthened its position in the North Sea this year after being awarded four new contracts and two extended scopes of work in the basin. The projects will see six E-type gangway systems…
Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them. The U.S.
De-risking the FPSO Renaissance
Floating production, storage and offloading vessels (FPSOs) are in the ascendancy. The total FPSO market is now expected to grow to over $117 billion by 2024. A combination of factors, such as the recovered oil price and renewed interest in deeper…
Aqualis Offshore to Position Egina FPSO
Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria. EPCIC contractor for the $3.3 billion FPSO, Samsung Heavy Industries…
Kosmos Energy Acquired DGE for $1.23 Bln
Kosmos Energy has agreed to acquire Deep Gulf Energy (DGE) from its private equity owner for $1.23 billion, according to a bourse filing on Monday, expanding the deepwater oil and gas firm's operations into the Gulf of Mexico. Dallas-based Kosmos…
Petrobras Prepays $975 Mln Worth of Bank Debt
Brazilian Petróleo Brasileiro SA has settled three bank loans worth a total of $975 million that were due 2022, the state-controlled oil company said in a securities filing on Monday. Petrobras, as the company is known, paid $325 million to Bank of America Corp…
Höegh LNG Secures Debt Financing for 9th FSRU
Norway's floating storage and regasification unit (FSRU) giant Höegh LNG said it has secured a USD 177 million debt financing for its FSRU delivery unit number 9. The FSRU is scheduled to be delivered in the fourth quarter of 2018. The facility…
Croatia Extends LNG Terminal Gas Bidding Deadline
A deadline for bids on output from a planned offshore liquefied natural gas (LNG) terminal to be built on Croatia's northern Adriatic island of Krk has been extended until Sept. 28, developers LNG Croatia said on Friday. Demand will dictate the capacity of the 250 million euro terminal…
DNV GL Secures Shell Penguins Contract
DNV GL has won a cross-service contract to support Shell's Penguins Field redevelopment on the UK Continental Shelf. The contract with Shell involves a team which will deliver an integrated verification and class project for the operator's Penguins…
Bad Weather Stalls Bangladesh FSRU Hook Up
A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.
Petronas Appoints Ahmad Nizam Salleh as New Chairman
Malaysia has appointed Ahmad Nizam Salleh as the new chairman of state-owned oil company Petroliam Nasional Bhd effective immediately, according to a statement from the prime minister's office on Wednesday. Ahmad Nizam has worked in the oil…
Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040
Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday. The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator…
Aker BP Adds More Acreage off Norway
Norway's independent oil firm Aker BP has agreed to buy stakes in 11 production licenses off Norway from French Total for a cash consideration of $205 million, the company said on Tuesday. The portfolio includes four discoveries with net recoverable…
Shell to Make Final Investment Call on Nigeria Oilfield in 2019
Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company official said on Tuesday. The project, one of the country's largest with an expected production of 180…
Singapore's Offshore Industry Recovering
A big drag on Singapore's growth in recent years, the embattled offshore and marine industry, has broken a three-year losing streak. Yet industry executives aren't betting on a return to the glory days anytime soon. The industry, along with a top-class finance sector…
Bureau Veritas Issues New FSRU Guidelines
Bureau Veritas has issued new and updated notations and guidance to support the construction and operation of both Floating Storage and Regasification Units (FSRUs) and Floating Storage Units (FSUs). Interest in FSRUs and FSUs is growing as floating gas terminals offer operational flexibility…
SBM Offshore Reaches Settlement in Brazil Corruption Probe
SBM Offshore has reached a settlement in a long-running corruption investigation it faced in Brazil, allowing the Dutch marine engineering group to take up new business there. SBM said late on Thursday it would pay approximately $189 million…