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Petrobras Strikes Oil at Urissanê Well, Off Brazil

January 29, 2021

Brazilian oil firm Petrobras has said it has identified the presence of hydrocarbons in the wildcat well in the block C-M-411, in the pre-salt region in the Campos Basin, off Brazil. The well 1-BRSA-1377-RJS, informally known as Urissanê, is located approximately 200 km from the coast…

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Transborders' 'Stranded Gas' FLNG Moves Step Closer to Reality with Multi-Party Deals Signed

January 28, 2021

Transborders Energy, an Australian company working to develop a 1.5 mpta FLNG solution for marginal field development, on Wednesday said it had signed a multi-party and multi-project FLNG Solution Agreement with multiple contractors, bringing the FLNG unit closer to reality.

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Bulgartransgaz Takes 20% Stake in Greece's Gastrade

January 28, 2021

Bulgartransgaz, the operator of the national natural gas transmission network of Bulgaria, has officially taken a 20% share in Greek company Gastrade that is developing an LNG floating storage and regasification unit (FSRU) offshore Alexandroupolis.

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.
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PetroRio Nears Full Takeover of Frade Offshore Field. Decom Costs Cut

January 22, 2021

Brazilian oil company PetroRio has received regulatory approval to acquire a 30% stake in the Frade oil field in the Campos Basin offshore Brazil from Petrobras. The company expects that the procedures for the assignment of 30% interest to PetroRio will be completed in the upcoming days.

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FAR, Woodside Sign Senegal Assets Sale Deal

January 20, 2021

Australian oil and gas company FAR has executed the sale agreement with Woodside for its interest in the Senegal RSSD Project to Australia's Woodside. FAR had agreed to sell its Senegal interests, containing the Sangomar development , to India's ONGC Videsh in November 2020.

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Petrojarl Banff FPSO to Be Recycled in Denmark

January 18, 2021

M.A.R.S. Europe said it has been awarded a contract by Teekay Petrojarl Floating Production UK Ltd. for dismantling and recycling of the Petrojarl Banff floating production, storage and offloading unit (FPSO). The deal includes engineering, preparation…

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Exxon Strikes Out at Hassa-1 Offshore Guyana

January 15, 2021

Exxon Mobil Corp said on Friday that its latest exploration well in the prolific Stabroek block off Guyana's coast did not find oil in its target area, the second setback to its drilling campaign in recent months. Exxon, which operates the Stabroek…

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VR Training for BP's Greater Tortue Ahmeyim Personnel

January 15, 2021

Oil major BP has hired Aberdeen-based offshore training company, Survivex, to develop and deliver a four-week training program for the operational personnel on the Greater Tortue Ahmeyim development project in Senegal/Mauritania offshore area.

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Two Die in Incident Aboard BW Offshore FPSO in Ivory Coast

January 15, 2021

Two people died Thursday in an incident aboard BW Offshore's FPSO Espoir Ivoirien, offshore the Ivory Coast, the FPSO owner has informed. "At 13:30 local time today, an incident occurred whilst work was being performed in a cargo tank onboard…

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Oil Rises to 11-month High

January 12, 2021

Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia's plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand. Brent crude settled up 92 cents, or 1.7%, at…

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Shell's Prelude FLNG Restarts LNG Shipments

January 11, 2021

Shell's Prelude LNG, the world's largest floating  liquefied natural gas (FLNG) project, offshore Australia, has resumed LNG cargo shipments,  almost one year after a shutdown caused by an electrical trip. In a brief statement sent to Offshore Engineer…

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TMC to Deliver Compressors for Shell's Bonga FPSO

January 11, 2021

TMC Compressors (TMC), a Norway-based provider of compressed air systems for the marine and offshore industry, has won a contract to supply a complete offshore topside compressed air system to Shell's Bonga Main FPSO in Nigeria. TMC will deliver…

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Petrobras Says 2020 Oil Output Averaged Record 2.28 Million BPD

January 7, 2021

Brazil's state-run oil company Petrolero Brasileiro SA produced a record 2.28 million barrels of oil per day on average in 2020, according to a securities filing on Thursday. The combined oil and natural gas output of Petrobras, as the company is known…

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Suncor to Record Impairment Charge on White Rose Assets

January 7, 2021

Canadian energy company Suncor will record in the fourth quarter of 2020 a non-cash after-tax impairment charge of approximately $425 million on its share of the White Rose asset and West White Rose Project in the Jeanne d’Arc basin off Newfoundland and Labrador.

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Saudi Cuts Drive Oil to 11-month High

January 7, 2021

Oil prices were steady on Thursday after hitting fresh 11-month highs on a fall in U.S. stockpiles and in the wake of a pledge by Saudi Arabia to cut output by more than expected. Brent crude was up 5 cents to $54.35 a barrel at 1231 GMT after touching $54.90…

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Chiyoda to Design Floater for Kumul Petroleum in PNG

January 5, 2021

Japanese engineering and construction company Chiyoda has won a deal to design, develop, and engineer a Floating, Storage, Re-gasification and Power Generation unit in Papua New Guinea ("PNG") for Papua New Guinea’s national oil and gas company Kumul Petroleum.

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SOFEC Cuts First Steel for Sangomar FPSO Turret

January 5, 2021

Mooring systems provider SOFEC has cut the first steel for the turret mooring system being built for the Senegal-bound Sangomar field FPSO. SOFEC is responsible for all engineering, procurement, and construction (EPC) activities related to the…

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Eni Extends Abo FPSO Contract

January 4, 2021

Italian oil company Eni has extended the contract for BW Offshore's Abo Floating Production Storage Offloading (FPSO) vessel. BW Offshore, the owner of the FPSO, said Monday it had signed the extension with Eni's subsidiary Nigerian Agip Exploration.

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Oil Slips, Set for 20% Annual Drop in Tumultuous 2020

December 31, 2020

Global crude prices slipped on Thursday and lost more than a fifth of their value in volatile trade in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and slammed fuel demand. Still, Brent and U.S. crude benchmarks have more than doubled from April's decade lows.

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ABS Rubberstamps MODEC's New FPSO Hull Repair Method

December 24, 2020

Japanese FPSO contractor MODEC's new offshore repair method for FPSO hulls has received approval by the American Bureau of Shipping (“ABS”) as an original standard repair method. The offshore repair method was developed by MODEC and Toray Industries.

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Wison's FLNG Designs Get ABS AiP

December 24, 2020

Wison Offshore and Marine's standardized 1.3MTPA and 3.0MTPA floating liquefied natural gas (FLNG) designs have received Approval in Principle from the American Bureau of Shipping (ABS). ABS Vice President, Global Gas Solutions, Patrick Janssens…

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