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KNOC Aims to Sell Stake in Dana Petroleum
State-run Korea National Oil Corp (KNOC) is considering upping the stake it is planning to sell in its British unit Dana Petroleum after failing to lure a buyer for the 30% previously on offer, banking and industry sources said. KNOC had hired…
Petrobras Reports Higher Q2 Production
Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade. In an early Friday securities filing, Petrobras…
BP Inks JOA for Gambia Offshore Block
BP has signed an agreement with Gambia's national oil company to jointly operate the disputed deepwater Block A1 License offshore the West African country. In April, Gambia said it awarded BP the A1 block , one of two that the government taken…
Floating Production Systems Report And Online Database
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Eni Finds More Oil Offshore Angola
Italy's Eni reported good results in its first appraisal well of the Agogo discovery in Block 15/06, offshore Angola. The Agogo-2 well results confirm 650 million barrels of oil in place at the Agogo field and indicate further upside in its…
Suncor Posts Higher Upstream Production
Suncor Energy Inc, Canada's second-largest oil and gas producer, on Wednesday reported a 5% rise in second-quarter operating profit and higher upstream production. Suncor's total production rose to 803,900 barrels of oil equivalent per day (boepd) in the quarter, which was a record.
Husky Energy Beats Profit Estimates
Husky Energy Inc reported a better-than-expected quarterly profit on Thursday, as higher Canadian crude prices following Alberta government's mandatory output cuts more than offset the company's lower production and weak refining margins. The…
Tullow Decides $33 Mln Interim Payout
The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least $100 million a year. The dividend…
EM&I Bags Japanese FPSO Operator Contract
International asset integrity specialist EM&I Group received an order from a major Japanese FPSO operator for an FPSO based offshore New Zealand. The order initially for tank inspection during which time EM&I’s ‘NoMan’ robotic tank inspections…
FPSO Liza Destiny Sets Sail for Guyana
The very first production vessel destined for operations offshore Guyana has departed Singapore en route to the ExxonMobil-operated Stabroek block off the northeastern coast of South America. The Liza Destiny floating, production, storage and…
Premier Oil Cuts Operating Costs Forecast
Britain's Premier Oil on Wednesday reduced its forecast for its 2019 operating costs to $12 per barrel of oil equivalent (boe) from $13 and expects debt reduction to reach the upper end of its $250-$350 million target by year-end. Premier, which had debt of around $2.3 billion in December…
Keppel Wins Yinson FPSO Modification Work
Singapore-based Keppel Offshore & Marine (Keppel O&M) has through its wholly-owned subsidiary Keppel Shipyard, secured a contract from repeat customer Yinson for the modification of a floating production, storage and offloading vessel (FPSO).
Leviathan natural gas platform starts voyage to Israel
The gas platform for the Leviathan natural gas field is on its way to Israel from the Gulf of Mexico, the partners in the project said on Sunday. The first of four barges transporting the production structure units has left Texas and the other three will set sail in the coming weeks.
North Sea FPSO Goes on Remote Control
Fugro said it has provided remote positioning services on board a floating production storage and offloading (FPSO) vessel for Bluewater during a scheduled subsea inspection, repair and maintenance campaign in the North Sea. The recent week…
Siemens to Power Eni Mexico Area 1 FPSO
Tech conglomerate Siemens said it will provide three 34-megawatt (MW) SGT-A35 gas turbine power generation packages to power a floating production, storage, and offloading unit (FPSO) that will operate for Eni off the coast of Mexico. The Eni…
Hurricane Raises 2020 Production Guidance
Hurricane Energy's shares recorded their biggest daily rise since 2017 on Thursday, jumping more than 13% after the group upped its production guidance for 2020 on positive results from its so-called fractured basement reservoirs in Britain.
Oil at Six-week High
Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm , while an incident with a British tanker in the Middle East highlighted tensions in the region. Brent crude futures were up 32 cents at $67.33 a barrel by 1153 GMT.
Near Miss on the Terra Nova FPSO
Canada's offshore safety regulator said it is monitoring Suncor Energy’s continued investigation into a potentially fatal incident on board the Terra Nova floating production, storage and offloading unit (FPSO) that occurred on June 24. The incident…
Woodside Starts Commissioning at Greater Enfield
Australia's Woodside Petroleum Ltd has started commissioning activities at the $1.9 billion Greater Enfield oil project off the state of Western Australia, two people with knowledge of the matter said on Wednesday. Oil from the project is expected to be sought after by traders in Asia.
Oil Rises Toward $65
Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand. OPEC and its allies led by Russia agreed last week to extend their supply-cutting deal until March 2020.
Floater Sector Active Despite Market Volatility
Activity in the floating production sector has not been slowed by the recent volatility seen across global oil markets, according to a recent report by World Energy Reports (WER). Brent oil, which had reached as high as the mid $70 range earlier this year…
NOV to Supply STP for MJ FPSO
APL, a business unit within NOV's Completion & Production Solutions segment, has secured the contract from South Korean builder Samsung Heavy Industries to supply a large submerged turret production (STP) system for a newbuild floating production…