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Panoro Exits Nigeria
Panoro Energy said it will no longer operate in Nigeria following a deal to sell its interest in the OML 113 offshore license to PetroNor E&P for $10 million plus a contingent consideration of up to $25 million based on future production volumes.
Jadestone Submits FDP for Vietnam Gas Fields
Independent oil and gas company Jadestone Energy said it has formally submitted the field development plan (FDP) for its Nam Du and U Minh gas fields, offshore southwestern Vietnam, to Vietnam Oil and Gas Group (Petrovietnam), targeting first production in late 2021.
Petrobras Posts Another Major Production Boost
Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater, pre-salt zone showed signs of paying off. Investors and analysts have been watching the firm's production figures closely in recent quarters…
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DNV GL Awards HHI AIPs for New FPSOs
South Korean shipbuilder Hyundai Heavy Industries (HHI) has obtained DNV GL's approval in principle (AiP) certificates for three models of its “Standard FPSO” design. Vidar Dolonen, Regional Manager of Korea and Japan at DNV GL – Maritime, presented the AiPs to Jun Sung Park…
Woodside Targets Scarborough FID in Early 2020
Woodside Petroleum Ltd has pushed out the final approval date for its mammoth Browse gas project but slightly brought forward plans to sign off on its smaller Scarborough project as it races to fill an anticipated global supply gap. Woodside…
SBM Secures Liza Unity Financing
SBM Offshore completed the $1.14 billion project financing of Liza Unity floating production, storage and offloading unit (FPSO), the Netherlands-based company announced on Wednesday. The project financing was secured by a consortium of nine international banks.
How Brazil's $26 Bln TOR Auction Works
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area.
Another Near Miss on the Terra Nova FPSO
Suncor Energy reported its third near miss in less than a year on board the Terra Nova floating production, storage and offloading unit (FPSO) stationed approximately 350 kilometers offshore Newfoundland and Labrador, Canadian authorities said.
MODEC, Yinson Win FPSO Charters from Petrobras
Brazilian state-run oil company Petróleo Brasileiro S.A. (Petrobras) has signed letters of intent with Japan’s MODEC and Malaysia’s Yinson for charter contracts for two floating production, storage and offloading units (FPSO) for the Marlim field offshore Brazil.
Veolia to Equip Liza Unity FPSO
Veolia Water Technologies said its VWS Westgarth subsidiary has been awarded a multimillion dollar contract by SBM Offshore for the supply of a seawater treatment package for the Liza Unity floating production, storage and offloading unit (FPSO), to be deployed in the Stabroek block offshore Guyana.
Teekay Extends Hummingbird Spirit FPSO
Teekay Corporation, a provider of crude oil and gas marine transportation services, has entered into an agreement with the Chestnut Joint Venture to extend the employment of the Hummingbird Spirit FPSO unit (Hummingbird) on the Chestnut field in the North Sea until March 2023.
Chestnut Field Extended Up to Three Years
Partners Spirit Energy and Dana Petroleum will invest £140 million ($177 million) to extend the life of the Chestnut field in the UK North Sea by as much as three years. The companies announced on Friday that they reached a deal with Teekay…
Total Says It Will Skip Brazil TOR Auction
Fance's Total SA, the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for November 6 of the so-called Transfer of Rights area in Brazil's pre-salt region.
Brazil Oil Auction Draws $2.2 Billion
Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions. The most heavily sought after…
Brazil Oil Bidding Points to Future Auction Success
Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find. Minister…
BW Energy IPO Awaits 'Right Window'
Norway's BW Offshore will wait for markets to stabilize before launching a planned initial public offering of its oil production arm, BW Energy, an executive said on Thursday. "We are generally ready to go to the market for a listing... however…
Brazil Court Green Lights TOR Mega Auction
Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a "transfer of rights" (TOR) area off the country's southeastern coast. The government expects…
Majors to Bid in Brazil's $800 Mln Oil Auction
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks. Combined, the minimum…
Maersk Supply Service Wins Brazil Project
Maersk Supply Service said it will provide an integrated mooring lines life extension solution for Shell’s floating production, storage and offloading unit (FPSO) Fluminense, including project management, engineering, interface management and offshore execution off the coast of Rio de Janeiro.
Keppel, Sembcorp Reach Deal with Embattled Brazil Firm
Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs. Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras)…