Stories

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VIDEO: Guyana's Second FPSO Sets Sail from Singapore

September 9, 2021

Liza Unity FPSO, set to become Guyana's second offshore production unit, has been completed in Singapore and has set sail towards Guyana. Keppel Shipyard, responsible for the construction and integration of the topside modules with the China…

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FPSO Firm BW Offshore Bids to Build Offshore Wind Farms in UK

September 8, 2021

BW Offshore, an Oslo-listed firm best know for its FPSO leasing business in the oil and gas sector, said Wednesday it had, together with U.S. renewable energy and utility company Invenergy, submitted bids to develop up to 5.4 gigawatts of offshore…

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Enauta's Atlanta Field Suffers Another Pumping System Setback

September 6, 2021

Brazilian oil firm Enauta is again experiencing problems with the pump system at its Atlanta field offshore Brazil, with output from one well now interrupted. Enauta said that the output interruption occurred on Sunday, September 5. "At this moment…

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Petrobras Exits Lapa Offshore Oil Field

September 2, 2021

Brazilian oil company Petrobras has sold its remaining stake in the Lapa offshore oil field in Brazil's Santos Basin to the French oil firm TotalEnergies. The Brazilian national oil company said Wednesday said that the deal was concluded with the payment of $49.4 million to Petrobras.

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BW Offshore Secures $1.15 B Loan for Barossa FPSO Construction

September 1, 2021

FPSO supplier BW Offshore has secured a $1.15 billion loan for the construction and operation of the FPSO for Australia-based Santos' Barossa offshore gas field. Earlier this year Santos and BW Offshore signed a contract for the delivery of an FPSO for the Barossa gas field…

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Excelerate, Petrobras Reach Deal on Bahia Terminal FSRU

August 30, 2021

Excelerate Energy will deploy one of its FSRUs in Bahia, Brazil, having recently successfully concluding negotiations with Petrobras over the tender process for the lease of the Bahia Regasification Terminal. Excelerate will deploy one of its…

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Near-term Outlook for Deepwater Floating Production Systems is Excellent

August 27, 2021

Near-term prospects for the deepwater sector are excellent. That’s the conclusion of an in-depth market analysis of the floating production market just completed by IMA/WER in the August 2021 Floating Production Systems Report. Asked what is driving the positive sentiment…

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Brazil's Enauta in Exclusive Talks with Yinson for "New" Atlanta Field FPSO

August 26, 2021

Brazilian oil company Enauta said Thursday it has signed a Memorandum of Understanding (MoU) with Malaysia's FPSO specialist Yinson for direct and exclusive negotiation of FPSO supply contracts for the "Definitive System" of the Atlanta field in the Santos Basin, offshore Brazil.

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Gabon: VAALCO to Replace Etame Field FPSO with FSO to Lower Cost

August 26, 2021

Africa-focused oil firm VAALCO Energy has signed a binding letter of intent with World Carrier Offshore Services Corp. for the provision and operation of a Floating Storage and Offloading (“FSO”) unit at VAALCO’s Etame Marin field offshore Gabon.

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Enauta: Atlanta Field Resumes Full Production as Repairs Complete. New Well Planned for 2022

August 25, 2021

Brazilian oil firm Enauta said Wednesday that its Atlanta field in the Santos Basin, offshore Brazil, had resumed full production  following a recent pumping system failure. Enauta said Wednesday that all the wells tied to the early production…

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Brazil: Petrobras Starts Production from FPSO Carioca in Sepia Field

August 24, 2021

Brazilian oil firm Petrobras said Monday it had started producing oil and gas from the FPSO Carioca, the first FPSO in the Sépia field, located in the Santos Basin pre-salt, offshore Brazil. The Carioca FPSO is located around 200 km off the coast of the state of Rio de Janeiro…

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ABS to Class FPSO Pair Being Built for Petrobras Buzios Field

August 19, 2021

The American Bureau of Shipping said Thursday that an FPSO duo being built for Brazil's Petrobras would be constructed to ABS Class. The sister FPSOs are currently named P-78 and P-79 and will be deployed at the giant Buzios pre-salt offshore oil field in Brazil's Santos Basin.

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Guyana, Suriname Eye Further Frilling from Oil Majors After Discoveries

August 18, 2021

Guyana and Suriname expect continued exploratory drilling over the next two years by oil majors in their joint offshore basin after a string of recent discoveries, government officials and corporate executives said at a conference on Wednesday.

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Cenertech's New FPSO to be Built to ABS Class

August 18, 2021

ABS said Wednesday that the new FPSO ordered by China National Offshore Oil Company Energy and Technology Services  Company (Cenertech) to serve the Lu Feng 12-3 Oilfield would be built to ABS Class. The 100,000 DWT FPSO is the center of a development…

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Guyana Vows to Develop Its Oil in an Environmentally Safe Manner

August 17, 2021

Guyana will develop its massive oil and gas discoveries with full environmental protections, a top official told a U.S. energy conference on Tuesday, pushing back against calls for energy providers to halt new exploration. The tiny South American…

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Chevron Sees Brazil's Pre-salt Oil as Prize Asset

August 17, 2021

Chevron Corp is hoping to play a role in Brazil's pre-salt oil discoveries, the U.S. oil major's Brazil chief said on Tuesday at the Offshore Technology Conference (OTC) in Houston. The "pre-salt chapter" might be the most important development in Chevron's more than century-long presence in Brazil…

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OPEC+ Sees No Need to Meet US Call for More Supply

August 16, 2021

OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters. The price of international…

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VIDEO: Prosperity FPSO Hull Arrives in Singapore

August 12, 2021

The hull of the FPSO Prosperity, which will be Guyana's  third offshore oil production unit once delivered, has arrived at the Keppel yard in Singapore, where it will be fitted with topside modules. SBM Offshore, which will deliver the FPSO  to end client ExxonMobil…

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Guyana Earns Nearly $80 Mln from 7th Crude Cargo

August 9, 2021

Guyana earned nearly $80 million from the seventh crude cargo allocated to the government from the offshore Liza project, the highest figure since exports began in early 2020, the Ministry of Natural Resources said on Monday. The cargo of 1…

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Oil Headed for Big Weekly Loss on Demand Worries

August 6, 2021

Oil prices tumbled on Friday, closing out a week of losses on worries that travel restrictions to curb the spread of the Delta variant of COVID-19 will derail global economic gains. Daily new COVID-19 cases in the United States have climbed…

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15 Bids in To Market Guyana Governent Crude

August 5, 2021

Guyana received bids from 15 different companies aiming to market the government's share of the crude produced off the South American country's coast, according to Guyana's National Procurement and Tender Board Administration website on Wednesday.

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