Stories

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SOFEC Cuts First Steel for Sangomar FPSO Turret

January 5, 2021

Mooring systems provider SOFEC has cut the first steel for the turret mooring system being built for the Senegal-bound Sangomar field FPSO. SOFEC is responsible for all engineering, procurement, and construction (EPC) activities related to the…

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Eni Extends Abo FPSO Contract

January 4, 2021

Italian oil company Eni has extended the contract for BW Offshore's Abo Floating Production Storage Offloading (FPSO) vessel. BW Offshore, the owner of the FPSO, said Monday it had signed the extension with Eni's subsidiary Nigerian Agip Exploration.

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Oil Slips, Set for 20% Annual Drop in Tumultuous 2020

December 31, 2020

Global crude prices slipped on Thursday and lost more than a fifth of their value in volatile trade in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and slammed fuel demand. Still, Brent and U.S. crude benchmarks have more than doubled from April's decade lows.

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
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ABS Rubberstamps MODEC's New FPSO Hull Repair Method

December 24, 2020

Japanese FPSO contractor MODEC's new offshore repair method for FPSO hulls has received approval by the American Bureau of Shipping (“ABS”) as an original standard repair method. The offshore repair method was developed by MODEC and Toray Industries.

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Wison's FLNG Designs Get ABS AiP

December 24, 2020

Wison Offshore and Marine's standardized 1.3MTPA and 3.0MTPA floating liquefied natural gas (FLNG) designs have received Approval in Principle from the American Bureau of Shipping (ABS). ABS Vice President, Global Gas Solutions, Patrick Janssens…

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SBM Offshore, Shell Extend Brazil FPSO Term. SBM in Talks with Exxon Over Guyana Extensions

December 23, 2020

Oil giant Shell has extended the contract for the lease of SBM Offshore's Espirito Santo FPSO in Brazil. SBM Offshore is also in talks with ExxonMobil to extend the FPSO terms in Guyana. The Dutch FPSO operator said Wednesday that the lease…

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Brazil: Enauta Takes Ownership of Atlanta Offshore Field, as Barra Exits

December 22, 2020

Brazilian oil company Enauta has agreed to take full ownership of the working interest in Block BS-4, offshore Brazil, where the producing Atlanta field is located. The company, previously known as Quireoz Galvao, opted to take over an additional…

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Nakilat Takes Over Management of FSRU Exquisite

December 21, 2020

Qatar-based energy shipping company Nakilat said Monday it had assumed the technical ship management and operations of the Floating Storage and Regasification Unit (FSRU) Exquisite from Excelerate. The FSRU is jointly owned by Nakilat and Excelerate through a joint venture established in 2018.

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Aker BP to Develop Gray Seal Discovery via Skarv FPSO

December 18, 2020

Norwegian oil and gas company Aker BP has decided to develop the Gråsel (Gray Seal) discovery in the Norwegian Sea. Aker BP, with its  Skarv field partners Equinor, Wintershall Dea and PGNiG approved the final investment decision for the Gråsel development on December 17.

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Husky, Cenovus Ahareholders Approve $4.78 Billion Merger Deal

December 15, 2020

Cenovus Energy Inc's C$6.07 billion ($4.78 billion)deal to buy Husky Energy Inc was approved by the shareholders of the two companies on Tuesday, creating Canada's No. 3 oil and gas producer in a rapidly consolidating industry. Cenovus said…

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Modec Nets Sangomar FPSO Operations and Maintenance Deal

December 14, 2020

Japanese FPSO contractor Modec has won a contract with Woodside for the operations and maintenance of the Sangomar FPSO in Senegal. The deal follows a contract signed in January for Modec to deliver the FPSO for Sangomar field development  - Senegal's first offshore development.

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Video: The Floating Production Market Faces Headwinds, But Opportunities Exist

December 11, 2020

Jim McCaul, head of International Maritime Associates and World Energy Reports, gives an update on the offshore floating production sector.

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Total Taps Norco for UPS, Battery Support on Offshore Angola FPSOs

December 10, 2020

French oil major Total has awarded a maintenance contract to energy storage equipment manufacturer and service provider Norco Group for its offshore assets in Angola. Norco Group will support Uninterruptible Power Supply (UPS) systems and standby…

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Woodside's CEO Coleman to Retire in 2021

December 8, 2020

Woodside Petroleum Ltd said on Tuesday it has started looking for a successor for its long-time chief executive Peter Coleman who plans to retire in the second half of 2021. The change in guard comes at a tricky time for Australia's top independent gas producer.

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VIDEO: Floating Offshore Wind: Opportunities & Challenges

December 7, 2020

The floating offshore wind industry, still considered nascent with around 100MW installed capacity - and minuscule compared to the installed capacity of its „older brother,“ - that is the conventional, fixed bottom offshore wind industry (29GW…

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Vietnam: FSO Golden Star Receives First Condensate

December 4, 2020

Malaysia Vietnam Offshore Terminal's FSO Golden Star has received the first condensate at the Sao Vang and Dai Nguyet (SVDN) Project offshore Vietnam. MVOT is a 51% MISC Berhad (MISC) owned joint venture with PetroVietnam Technical Services Corporation (PTSC).

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Keppel Offshore & Marine Wins $74,7M FPSO Conversion Work

November 26, 2020

Singapore's Keppel Offshore & Marine has won a contract from an unnamed repeat customer worth about S$100 million (USD 74,7 million) for the fabrication and integration work on a Floating Production Storage and Offloading vessel (FPSO). Scheduled for delivery in 4Q 2022…

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Tullow Oil Shifts Its Focus to West Africa

November 25, 2020

Britain's Tullow Oil will commit 90% of its investments in coming years on its producing offshore oilfields in West Africa and put exploration on the back burner to reduce debt. Tullow, which was set up in the 1980s produce oil and gas in Africa…

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Exxon Lowers Oil Price Outlook for Much of the Next Decade

November 25, 2020

U.S. oil major Exxon has lowered its expectations for oil prices for much of the next decade, the Wall Street Journal reported on Wednesday, citing internal company documents. As part of an internal financial-planning process conducted this fall…

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ARMS Reliability Wins Contract with MODEC

November 23, 2020

ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production…

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BW Offshore, New Zealand Gov't Reach Umuroa FPSO Settlement

November 20, 2020

FPSO operator BW Offshore has reached a settlement with the New Zealand government over the FPSO Umuroa, which has been stuck at the Tui field, around 50 kilometers off the coast of Taranaki, for months. BW Offshore has been unable to remove…

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