Stories

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Banff FPSO Contract Extended

May 23, 2019

Teekay said it has entered into an agreement with Canadian Natural Resources (CNR) to extend the employment of the Petrojarl Banff FPSO unit on the Banff field in the UK North Sea for a period of one year to the end of August 2020. According to Teekay…

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BW Offshore to Float Energy Unit

May 23, 2019

Oslo-listed BW Offshore said it will float BW Energy this year to help expand the oil and gas business, particularly in Brazil, as its first quarter earnings rose 72%. Shares in BW Offshore, originally an owner of floating production, storage…

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Petrobras Interested in Two TOR Auction Areas

May 22, 2019

Petroleo Brasileiro said on Tuesday it is interested in exercising its preferential right to tender in two areas in an auction of excess oil from the so-called "transfer of rights" (TOR) area, according to a company filing. The Brazilian state…

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Petrobras Eyes $9 Bln Transfer-of-rights Addendum

May 21, 2019

Brazil's state-run oil company Petrobras said on Tuesday its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion, but the deal remains subject to governmental agreement.

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FLNG Satu Achieves First LNG at Kebabangan

May 21, 2019

Petronas has produced its first liquefied natural gas (LNG) from a floating LNG (FLNG) facility at the Kebabangan cluster field, 90 kilometers offshore the eastern state of Sabah, the Malaysian state-owned oil company announced on Tuesday. First…

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Premier Oil Raises Output Guidance

May 16, 2019

Britain's Premier Oil increased its 2019 production guidance on Thursday, saying output had been boosted by efficiency measures and a late sale from its now-divested Pakistan oil fields. The company said it now expects output to reach 75,000 to 80…

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McDermott Scores EPCI Work at Sepia

May 14, 2019

McDermott International said on Tuesday it has been awarded contract from Petrobras for engineering, procurement, construction and installation (EPCI) of subsea risers and flowlines for the first phase of the Sepia field, located 280 kilometers from the Rio de Janeiro coastline in Brazil.

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Hurricane Energy Starts Up Lancaster Field

May 13, 2019

British oil and gas company Hurricane Energy started up its Lancaster field west of Scotland's Shetland Islands, it said on Monday, pushing its shares up 6 percent to a seven-week high. Hurricane specializes in recovering oil from fractures…

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SBM Wins ExxonMobil Guyana FPSO Order

May 13, 2019

Dutch-based floating production and mooring systems (FPSO) provider SBM Offshore has  won a contract to deliver an FPSO for ExxonMobil’s second phase of the Liza development offshore Guyana. Esso Exploration and Production Guyana Limited (EEPGL)…

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Eni Makes Discovery Offshore Ghana

May 10, 2019

Italian supermajor Eni said it has found gas and condensate in the first exploration well drilled in CTP-Block 4, approximately 50 kilometers off the Ghana coast. The well was drilled on the Akoma exploration prospect and proved an estimated…

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Shell to Invest $2 Bln per Year in Brazil

May 10, 2019

Royal Dutch Shell has plans to invest about $2 billion per year in Brazil through 2025, Chief Executive Ben van Beurden told newspaper Valor Econômico in an exclusive interview. Its investment plans could be increased to allow the company to bid in three upcoming oil and gas auctions…

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Timeline: Occidental's Anadarko Victory

May 10, 2019

Before Occidental Petroleum Corp clinched a deal on Thursday to buy Anadarko Petroleum Corp for $38 billion, it pursued its U.S. oil and gas exploration and production rival for nearly two years, culminating in the sector's most high-profile public contest since the 1980s.

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Brazil Sets Parameters for Mega Oil Auction

May 10, 2019

Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup in the refinery sector.

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Ghana's Pecan Field Approval Seen by Q3

May 10, 2019

Aker ASA expects Ghanaian authorities to approve a revised $4.4 billion development plan for the offshore Pecan oilfield by the end of the third quarter of 2019, the Norwegian investment firm's chief executive told Reuters on Friday. The company…

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Semco Chosen for 'Energean Power' FPSO

May 9, 2019

TechnipFMC has chosen Semco Maritime to deliver telecommunication systems, topside firefighting equipment and safety equipment for the ‘Energean Power’ FPSO for the Karish & Tanin fields, offshore Israel. As a total systems integrator Semco…

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Emerson Scores BP Contract

May 7, 2019

Emerson said it  has been awarded a five-year contract with BP to provide predictive maintenance and operational support services to ensure safe, optimized production from its Clair Ridge platform and Glen Lyon floating production, storage and offloading (FPSO) vessel.

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Oxy Would Sell Anadarko Africa Assets to Total

May 5, 2019

France's Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil and gas companies clinch a deal to combine. The agreement with Total…

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Petrobras Production Slips

May 4, 2019

Oil production by Petroleo Brasileiro SA fell 3.5 percent in the first quarter from the same period a year before, according to Brazil's oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages. In a statement…

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Exxon Funds Liza Phase 2 off Guyana

May 3, 2019

ExxonMobil has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals, the supermajor announced on Friday. Exxon said startup at Liza Phase 2 is expected in mid-2022, producing up to 220,000 barrels of oil per day from the deepwater Stabroek Block…

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Shell Outperforms Rivals in Q1

May 2, 2019

Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings. Shell's results outshone those of rivals Exxon Mobil…

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Teekay Gets Refinance for FPSO Fleet

May 1, 2019

The international midstream services provider to the offshore oil production industry Teekay Offshore Partners announced  that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units.

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