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INPEX Files $970M Claim Against DSME for Ichthys Venturer FPSO Work

August 10, 2022

Japanese oil and gas company INPEX has filed a $970 million claim against South Korean shipbuilder Daewoo Shipbuilding Marine & Engineering, seeking compensation for alleged delays and construction issues related to a 2012 FPSO order. DSME said…

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ExxonMobil Taps Acorn for EIA Work on Fifth Offshore Development in Guyana

August 9, 2022

ExxonMobil has hired Acorn International, an environmental and risk management consultancy with offices in Boston and Houston, to perform an Environmental Impact Assessment (EIA) and lead the public consultation program for the Uaru Project, Exxon's fifth offshore development project in Guyana.

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MODEC, Toyo to Form Engineering JV for Large-Scale FPSOs

August 8, 2022

FPSO leasing specialist MODEC and Toyo Engineering Corporation have executed a deal to form a joint venture company for the Engineering, Procurement, Construction and Installation (EPCI) business of FPSO vessels. The establishment of the joint venture company…

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
  • Monthly reports - Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In our May report we revisit the annual forecast and make revisions as needed.
  • Online database - The online database is updated every day – with information direct from primary sources. In the database are details for 200+planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. Data are easily exported to excel spreadsheet.
  • Customer support - We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

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Exxon Accelerates Production in Guyana, Makes Two New Discoveries

July 27, 2022

Exxon Mobil Corp said on Tuesday it has made two new oil discoveries offshore Guyana and that it has already exceeded its original year-end daily production target for the South American country. The announcements are part of Exxon's efforts…

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Drydocks Orders Kanfa FPSO Topside Module

June 29, 2022

UAE-based shipyard Drydocks World has signed a contract with Norway-based Kanfa to deliver a topside module for a floating production storage and offloading vessel. In what will be the first collaboration between Drydocks World and Kanfa, the M10 module will be placed on the main deck of the FPSO.

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Webinar: How oil & energy firms can gain a competitive advantage by embracing the digital future

June 27, 2022

While the sector has typically been slow to adopt digital innovations, today’s offshore energy markets are fluid and fast-changing, and the ‘business as usual’ model will not necessarily yield the best future results. AI, automation and data…

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Digitalization: Leveraging Digital Innovation in Offshore Energy

June 20, 2022

There is an increasing expectation that oil and gas firms can demonstrate their value and efficiency through more data-centric processes, managing costs and reacting more quickly to changing market conditions. While the sector has typically been slow to adopt digital innovations…

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First Hydrocarbons Introduced into Coral South FLNG Offshore Mozambique

June 18, 2022

Italian oil and gas company Eni said Saturday that the first hydrocarbons had been introduced  from the Coral South reservoir offshore Mozambique into the Coral South FLNG unit. Eni operates the offshore Area 4 where the Coral South FLNG is located.

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IEA Says World Oil Demand to Rise 2% in '23

June 15, 2022

World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook.

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Saipem Confirms Shell's Gato do Mato FPSO LNTP

June 15, 2022

Italian oilfield services firm Saipem has confirmed it has recently been awarded a limited notice to proceed (LNTP) by BW Offshore, for the early-stage engineering services for the supply of an FPSO unit to be supplied to Shell for the development of the Gato do Mato field offshore Brazil.

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U.S. Natgas up 2% on Higher Demand, Soaring Global Prices

June 14, 2022

U.S. natural gas futures edged up about 2% on Tuesday on record power demand in Texas, forecasts for more gas demand over the next two weeks than previously expected, a reduction in gas output, low wind power and much higher global gas prices.

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Demand Grows for OSVs in the Offshore Floating Production and Storage Energy Sector

June 13, 2022

Over the last year we have seen an upswing in floating production and storage systems ordering after many years of low activity. According to our colleagues at World Energy Reports, “The global oil and natural gas markets are contending with…

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Lebanon's Hezbollah Says Could Disrupt Start-up of Energean's Karish Gas Field Over Maritime Dispute with Israel

June 10, 2022

The head of Lebanon's Hezbollah said on Thursday that his group could stop Israel from extracting gas from a maritime field that Beirut says lies in disputed waters, adding Hezbollah is "not afraid of war." Lebanon warned Israel on Sunday against…

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International Seaways Sells Stake in Al Shaheen Oil Field FSOs to Euronav

June 8, 2022

Oil tanker operator International Seaways has sold its 50% stake in two floating storage and offshore (FSO) vessels, the FSO Asia and FSO Africa, to its joint venture partner Euronav NV. The purchase price values the two FSO vessels at $300 million in total.

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Naming Ceremony Held for Yinson's Anna Nery FPSO

June 8, 2022

Malaysian FPSO provider Yinson, with its project partner Sumitomo Corporation named the new FPSO Anna Nery, during a naming ceremony held concurrently in Jiangsu, China and Kuala Lumpur, Malaysia. The FPSO Anna Nery is currently undergoing final…

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Indigenous Australians Seek to Block $3.6 billion Santos Offshore Gas project

June 7, 2022

A group of Indigenous Australians has filed a lawsuit seeking to stop Santos Ltd from developing a $3.6 billion gas project off northern Australia, saying they were not consulted about the drilling. Traditional land owners from the Tiwi Islands…

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BW Offshore Sells FPSO Joko Tole

June 3, 2022

FPSO leasing company BW Offshore has completed the sale of the FPSO BW Joko Tole. The FPSO was sold to PT Bahari Inti Tanker and PT Cahaya Haluan Pasifik, both of which are Indonesian companies, in consortium with PT Buana Lintas Lautan Tbk, a company publicly listed in Indonesia.

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Korean Shipbuilder Can't Accept New FSRU Orders as Capacity Full

June 2, 2022

Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied natural gas (LNG) sector, a senior company executive said. With U.S.

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Europe's Dash for Gas & FSRUs Puts Australia's LNG Import Plans at Risk

June 1, 2022

Europe's race to replace Russian gas supply has threatened Australia's plans for five gas import terminals as they compete for key infrastructure, raising the risk of a supply shortfall in Australia's populous southeast in the next two years.

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Italy's Snam Buys Golar Tundra FSRU for $350M

June 1, 2022

Italian gas group Snam has agreed to buy Golar LNG's floating storage regasification unit (FSRU) Golar Tundra for $350 million. The Golar Tundra can operate both as an LNG carrier and as an FSRU. The vessel, built in 2015, has a storage capacity of around 170…

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Poland Could Build Second FSRU Amid Czech, Slovak Interest

May 30, 2022

Poland could build a second floating storage and regasification unit (FSRU) next to an already planned installation because the Czech Republic and Slovakia are interested in buying more liquefied natural gas (LNG), the Polish climate minister said.

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