Stories

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Hoegh Gallant Leaves Egypt, Sets US Destination

October 18, 2018

Liquefied natural gas (LNG) tanker Hoegh Gallant has left its mooring in Egypt, where it had been used as a floating import terminal since 2015, and set course for the U.S. Sabine Pass production facility, according to Refinitiv Eikon data.

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LNG Investment Set to Grow

October 18, 2018

Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as…

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Hoegh LNG Vessel to Leave Egypt Before Weekend

October 16, 2018

Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals. The minister…

Floating Production Systems Report And Online Database

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Shell Attains Break-even costs of $30-$35 per Barrel in Brazil

October 16, 2018

Royal Dutch Shell, Brazil's No. 2 oil producer, has attained break-even costs of $30-$35 per barrel in the South American country, its Brazil manager Andre Araujo said on Tuesday. (Reporting by Alexandra Alper; Editing by Bernadette Baum)

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Hurricane FPSO Leaves Dubai After Upgrade, Shetlands First Oil Seen in H1

October 15, 2018

The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.

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HHI to Build FPS for LLOG Exploration

October 11, 2018

South Korean shipbuilder Hyundai Heavy Industries (HHI) has been awarded a contract to build a floating production system (FPS) for LLOG Exploration of the U.S. HHI, the world's biggest shipbuilder by orders, said in a stock exchange announcement…

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Tullow Hires Subsea 7 for Offshore Ghana

October 11, 2018

Subsea 7 S.A. announced the award of a contract by Tullow Ghana Limited on the Jubilee field, offshore Ghana, in water depths of up to 1000 meters. According to a press release from the London-headquartered subsea engineering company, the engineering…

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Shell Sees Nigeria Corruption Trial Lasting Many Months

October 11, 2018

Royal Dutch Shell expects a landmark corruption trial over a Nigerian oil deal to last many months, warning staff of continued critical media coverage in the $1.3 billion case, according to an internal memo seen by Reuters. Shell's Legal Director…

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AGL LNG Import Project Slowed by Environment Review

October 10, 2018

Plans by Australia's AGL Energy to start importing liquefied natural gas from 2021 will be delayed after the state of Victoria called for the company and its pipeline partner to submit a full environmental assessment of their project. The review process typically takes nine to 12 months…

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Yinson's Knock Allan FPSO Contract Terminated

October 10, 2018

Malaysia’s Yinson Holdings Bhd has received the termination of an FPSO contract for its Knock Allan FPSO located on the Olowi field offshore Gabon. The oil and gas services company said in a press release that the contract with Canadian Natural Resources (CNR) International (Olowi) Ltd…

Natural Gas is Here to Stay, Big Oil Says

October 9, 2018

Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy. Top oil companies including Royal Dutch Shell,…

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New Book Release: Why Only Two FPSOs in the U.S. Gulf of Mexico?

October 9, 2018

The Late Start and Twenty Year Saga. More than 40 years have passed since the trailblazing Shell Castellon started operation as the first floating production storage and offloading (FPSO) unit in 1977. Ever since, hundreds of these vessels have operated worldwide…

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British North Sea Oil Costs, Spending on the Rise

October 9, 2018

The costs and operating expenditure needed to produce oil and gas in the British North Sea are set to rise both in overall and in per-barrel terms this year compared with 2017, the country's regulator for the sector said on Tuesday. Overall…

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DOF Bags Contract Extension in Brazil

October 8, 2018

Norwegian supply shipping company DOF ASA said its vessel Skandi Hav has been granted a 226-day extension by Petrobras in support of work offshore Brazil. The 1983-built Skandi Hav is now secured firm until June 8, 2019. The vessel is currently…

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Alfa Laval to Suppy Pumping Systems for China-built FPSO

October 5, 2018

Alfa Laval won an order to supply Framo pumping systems to an FPSO (Floating Production, Storage and Offloading) vessel to be built in China. The provider of specialized products and engineering solutions based on its key technologies of heat transfer…

Petrobras Repays 2 Bln Real Loan, Opens Fresh Credit Line

October 5, 2018

Brazil's state-controlled oil company Petroleo Brasileiro said on Friday it prepaid a 2 billion real ($516.13 million) loan due in 2020 from Banco do Brasil, and opened a new credit line for the same amount with the same bank due in 2025. The…

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Aker Solutions to Supply Subsea Production System for Mero 1

October 5, 2018

Aker Solutions said it has secured an order from Petrobras to provide a subsea production system and related services for the Mero 1 project, the first full production project within the major Mero field development, one of the largest oil discoveries in Brazil's pre-salt area.

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Aker Solutions to Provide Brownfield Services for BP in Angola

October 4, 2018

Aker Solutions has been awarded a five-year agreement to supply brownfield modifications, maintenance and operations support for BP's Greater Plutonio and PSVM fields offshore Angola. The work scope covers the supply of engineering, procurement…

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Norway's Goliat Oilfield to Restart by Friday

October 4, 2018

Oil production at Eni's Arctic Goliat field off the coast of Norway will restart by Friday following maintenance, the company told Reuters on Thursday. The restart had originally been planned for Oct. 1, but Eni extended the outage to carry…

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IEA boss urges oil producers to ease supply concerns

October 4, 2018

Major oil producers must take "the right steps" to ease supply concerns that have lifted crude prices to a four year-high, the head of the International Energy Agency told Reuters on Thursday. "It is now high time for all the players, especially those key producers and oil exporters…

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IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market

October 4, 2018

International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports , is the most detailed analysis yet made of this growing business sector.

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