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Yinson Gets Extension for Vietnam FPSO

June 25, 2019

Malaysian floater company Yinson  Holdings Bhd has secured another extension of its floating production storage and offloading (FPSO) with Petrovietnam Technical Services Corp (PTSC) for operations at the Lam Son Field. According to the second addendum to the interim contract…

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Teekay, Alpha Petroleum FPSO Deal Terminated

June 22, 2019

Teekay Offshore Partners, midstream services provider to the offshore oil production industry, said that the agreement with Alpha Petroleum signed in October 2018 for Teekay’s Petrojarl Varg vessel to operate on Alpha’s 100%-owned Cheviot field was terminated.

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Brent Oil Climbed 5% This Week

June 21, 2019

Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output. Brent crude was up $0.69…

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SubseaPartner Tallies FPSO Work in the UK

June 20, 2019

Norwegian diving contractor SubseaPartner announced it has secured a contract from floating production, storage and offloading unit owner and operator Teekay Offshore for dive work offshore the UK. The contract includes ongoing subsea work on the FPSOs Petrojarl Foinaven and Hummingbird.

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Addax Signs FPSO Charter with Yinson

June 19, 2019

Malaysia's  Yinson Holdings has secured a four-year extension of its floating production storage and offloading (FPSO) charter contract worth $137.5 million with Sinopec subsidiary Addax Petroleum. Yinson said in a stock exchange annoucement…

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Hurricane Sells First Cargo from Lancaster

June 18, 2019

UK based oil and gas company Hurricane Energy said it has sold its first cargo lifted from the Aoka Mizu floating production, storage and offloading unit (FPSO) at its Lancaster field offshore Scotland. The cargo was marketed by BP Oil International…

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Brazil Postpones Santos Basin Bid Round

June 13, 2019

Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP.

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Worley, Enaval Form Brazil Brownfield JV

June 12, 2019

Australian-based engineering firm Worley said it has entered into a 50:50 joint venture with Brazilian services company Enaval. The new joint venture, Worley Enaval (WE) Integrated Solutions, combines Worley’s global engineering and brownfield…

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Libra Partners Launch Mero Phase 2

June 11, 2019

Project partners have taken the investment decision for the second phase of the Mero project in the deepwater Libra block of the pre-salt Santos Basin offshore Brazil, Brazilian state-controlled oil company Petrobras announced on Tuesday. Brazilian state-controlled oil company Petrobras…

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Jedstone Starts RLWI Work at Montara

June 10, 2019

Asia Pacific focused Jadestone Energy announced Monday it has begun a riserless light well intervention (RLWI) campaign at the Montara complex, offshore Australia. The Sapura Constructor light well intervention vessel was mobilized to the field on May 30…

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Oil Rises on Likely OPEC+ Supply Cuts

June 10, 2019

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures…

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ExxonMobil to Redevelop Angola Block 15

June 6, 2019

American multinational oil and gas corporation ExxonMobil and its partners said that they will further invest in Block 15 offshore Angola to increase production as part of an agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels.

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US Crude Inventory Above Average

June 5, 2019

US crude inventory now 6% above the five year average – Brent crude price down 17% over past 10 days Recent government data indicate a US crude inventory surplus has been forming. The latest EIA survey shows 483 million bbls in inventory as…

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Hurricane Achieves First Oil at Lancaster

June 5, 2019

Hurricane Energy has announced first oil at its Lancaster field off Scotland, the first such success for so-called fractured basement reservoirs in Britain and a major milestone for the company within its guided schedule. Hurricane specializes…

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Equinor Plans Rosebank FID by 2022

June 4, 2019

Equinor and its partners expect to reach a final investment decision (FID) for Rosebank, one of the largest undeveloped oil and gas fields on the UK continental shelf, by May 2022, the Norwegian major said on Tuesday. The Rosebank field was…

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Eni Makes Fifth Oil Find Offshore Angola

June 4, 2019

Italian oil and gas company Eni has made the fifth oil discovery in one year in Block 15/06, through the Agidigbo-1 NFW well in Angola's deep offshore. It follows the discoveries of Kalimba, Afoxé, Agogo and Ndungu. The five discoveries altogether…

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Brazil Approves Petrobras Oilfields Sale

May 31, 2019

Brazilian antitrust regulator Cade has approved the purchase by independent oil firm PetroReconcavo of 34 oilfields owned by Petroleo Brasileiro SA , the government's official bulletin showed on Friday. Cade said the sale did not reduce competition…

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Ocean Yield Extends FPSO Deal with Aker Energy

May 29, 2019

Norway-based shipping company Ocean Yield has entered into an option agreement with Aker Energy for a long-term bareboat charter of the FPSO Dhirubhai-1. The option period expired on the 1st of May but was extended until the 30th of May 2019.

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Petrobras Nears Sale of Offshore Oilfields

May 28, 2019

Brazil's Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt. Petrobras, as the company is known, has set a June 5 deadline to receive…

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Banff FPSO Contract Extended

May 23, 2019

Teekay said it has entered into an agreement with Canadian Natural Resources (CNR) to extend the employment of the Petrojarl Banff FPSO unit on the Banff field in the UK North Sea for a period of one year to the end of August 2020. According to Teekay…

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