Stories

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EnQuest to Take Over Operatorship of Bressay Field from Equinor

July 31, 2020

Norwegian oil and gas company Equinor will sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to UK-based EnQuest. The initial consideration is GBP 2,2 million (USD 2,8 million)…

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ExxonMobil Finds More 'High-quality' Reservoirs Off Guyana, Hess Says

July 29, 2020

The U.S. oil major ExxonMobil has recently discovered two more high-quality oil reservoirs offshore Guyana, Hess, the company's partner in the prolific Stabroek block said Wednesday. To remind, back in January, ExxonMobil said it had struck its 16th oil discovery in the offshore block in Guyana…

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Hess' 2Q Loss Deepens. Oil Output Jumps

July 29, 2020

U.S. oil and gas producer Hess Corp reported a bigger quarterly loss on Wednesday, hurt by lower oil prices as the COVID-19 pandemic sapped global energy demand. Crude prices sank to historic lows in April as economic activity plummeted across…

Floating Production Systems Report And Online Database

  • Annual five year outlook and forecast – At the start of each year we prepare a detailed assessment of future deepwater development and forecast the pace of orders for floating production systems over the next five years. Our 2021 annual report looks at market conditions likely to prevail through 2025 and provides our assessment of which of the 200+ floater projects in the planning queue will reach the final investment decision by end-2025
  • Monthly reports - Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In our May report we revisit the annual forecast and make revisions as needed.
  • Online database - The online database is updated every day – with information direct from primary sources. In the database are details for 200+planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. Data are easily exported to excel spreadsheet.
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Woodside Weighs Blocking Lukoil from Joining Senegal Oil Project

July 27, 2020

Australia's Woodside Petroleum is considering whether to block Lukoil from becoming a partner in the $4.2 billion Sangomar oil project off Senegal, after the Russian firm agreed to buy Cairn Energy's Senegal assets . Woodside, 35% owner and operator of the Sangomar project…

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Var Energi Seeks $1B for Jotun FPSO

July 27, 2020

Norwegian oil and gas producer Var Energi, backed by Eni and private equity firm HitecVision, is seeking around $1 billion for its Jotun production ship, a source with direct knowledge of the matter told Reuters. Var would then lease the floating production…

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Russia's Lukoil Buys Cairn's Stake in Sangomar Field Offshore Senegal

July 27, 2020

Russian oil company Lukoil has signed an agreement with Cairn Energy to acquire a 40% interest in the Rufisque, Sangomar and Sangomar Deep) - RSSD - project offshore Senegal for $300 million in cash. The agreement also provides for potential…

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Webinar: Floating Production Forecasts & Analysis

July 24, 2020

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector. Floating Production Systems: 2020 Forecasts & Analysis…

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Petrobras Launches Tender for Buzios FPSO Trio

July 24, 2020

Brazilian state-controlled oil company Petrobras said on Friday it has approved the start of a tender to build three new floating platforms, known as FPSOs, in the Buzios oilfield, one of the biggest deepwater discoveries this century. Earlier in July…

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Exxon Names Country Head in Emerging Hot Spot Guyana

July 24, 2020

Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future. Alastair Routledge takes over after the company…

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Suncor Moves Terra Nova FPSO to Conception Bay

July 23, 2020

Canadian oil operator Suncor has moved its Terra Nova FPSO and docked it shoreside in Newfoundland after its planned drydock in Spain was canceled due to the COVID-19 outbreak. Suncor and its partners in the Terra Nova field in the Atlantic Ocean off Canada…

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Webinar: Floating Production Forecasts & Analysis

July 21, 2020

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector. Floating Production Systems: 2020 Forecasts & Analysis…

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Coronavirus Outbreaks Hit Petrobras' Quarterly Output

July 21, 2020

Coronavirus outbreaks at a number of platforms operated by Brazil's Petrobras hit production in the second quarter, the company said on Tuesday, though the firm indicated output may improve in certain regions. In a securities filing, Petroleo Brasileiro SA…

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VAALCO Energy Extends Charter for FPSO Petróleo Nautipa

July 21, 2020

Norwegian floating production vessel provider BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Petróleo Nautipa. The FPSO, deployed at the Etame field offshore Gabon for VAALCO Energy, will now have a contract until the third quarter of 2022.

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Shipments Resume from Pemex FPSO After Collision

July 19, 2020

An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge of the matter and data from Refinitiv Eikon.

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Westwood Expects 40 FPSOs to be Ordered in 2020-2024 Period

July 16, 2020

Energy industry analysts seem to agree that the future is bright, or at least brighter, when it comes to the contracting activity for the floating production systems, from 2021 onwards after COVID-19 and low oil prices hit the market in 2020.

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"Good Level of Interest" in Far's Sangomar Field Stake

July 16, 2020

Australia's FAR Ltd said on Thursday it has received a "good level of interest" in the sale of its 15% stake in the $4.2 billion Sangomar oil and gas project being developed off Senegal. FAR said in March it had failed to secure debt to fund…

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Keppel to Deliver Components for Two MODEC FPSOs

July 15, 2020

Singapore's Keppel O&M has received orders from Japan's FPSO leasing company MODEC to deliver components for two FPSO units. The orders are worth S$73 million (USD52,5 million) in total. In Singapore, Keppel Shipyard will fabricate, complete…

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Petrobras Reports Buzios Field Production Record

July 14, 2020

Brazil's Petrobras said production from four of its floating production, storage and offloading units (FPSO) in the Buzios field located in the Santos Basin, off the coast of Rio de Janeiro, combined to achieve a daily record output on Monday.

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Norway-linked Firms Might Bid for Petrobras' Golfinho Field Offshore Brazil

July 10, 2020

Norway's BW Offshore Ltd and DBO Energy are among the firms mulling a bid for Petrobras' Golfinho  oil field cluster, two sources said, as Brazil's state-run  oil  company seeks to re-spark its asset sale program in the wake of this year's crude price crash.

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LR to Create Digital Twin for Bluewater's Glas Dowr FPSO

July 9, 2020

Lloyd's Register has won a contract with FPSO specialist Bluewater, to provide a comprehensive digital twin and evaluation of an FPSO’s structure, using historical and real-time data of the asset. The company said the digital twin and evaluation…

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After Sumitomo, Another Japanese Firm Takes Stake in Yinson's Brazil FPSO Project

July 9, 2020

Malaysian FPSO specialist Yinson has welcomed another Japanese investor to its Marlim 2 FPSO project. Yinson is building the Anna Nery FPSO (conversion from Falcon VLCC) to be deployed at Petrobras Marlim II project offshore Rio de Janeiro, under a 25-year lease contract.

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