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Karoon Reaches FID on Patola Field Development in Brazil

June 3, 2021

Australian oil and gas company Karoon has reached the Final Investment Decision to proceed with the development of the Patola field, offshore Brazil. The Patola field is located within the 100% Karoon-owned and operated BM-S-40 Production Licence in the Santos Basin…

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MODEC Confirms Bacalhau FPSO Order

June 3, 2021

Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development. The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday.

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Subsea Integration Alliance Confirms Bacalhau EPCI Contract

June 2, 2021

Subsea Integration Alliance, a partnership between Subsea 7 and Schlumberger's OneSubsea, has officially received the contract for the delivery of subsea equipment and flowlines for Equinor's recently sanctioned Bacalhau field development offshore Brazil.

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
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  • 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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Equinor's Johan Castberg Offshore Field Start-up Delayed until Q4 2023, Safety Watchdog Says

June 1, 2021

The startup of Equinor's Johan Castberg oilfield in the Arctic Barents Sea will be delayed by one year until the fourth quarter of 2023 due to technical problems, denting its value, Norway's oil and gas safety watchdog said on Tuesday. The Petroleum…

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Equinor Sanctions $8B Bacalhau Field Development in Brazil

June 1, 2021

Norwegian oil and gas company Equnior has made a final investment decision for the development of the  Bacalhau field  offshore Brazil. The development of the field located in the Santos Basin will cost around $8 billion. Arne Sigve Nylund…

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Deepwater Sector “Rapidly Accelerates” out of Downturn

May 27, 2021

World Energy Report’s Jim McCaul estimates up to $40 billion in contracting activity in the coming 18 months in the deepwater market.

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BW Offshore Orders Barossa FPSO Topside Modules from Dyna-Mac

May 24, 2021

Dyna-Mac, a Singapore-based firm building modules for offshore oil and gas facilities, has won a module fabrication deal with FPSO supplier BW Offshore. The contract, valued at S$197 million (around $148 million), is for the supply, fabrication…

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UTM Offshore Taps KBR for Support at Nigeria's First FLNG Project

May 20, 2021

Engineering and construction services giant  KBR has won a contract with Nigeria's UTM Offshore to support the development of Nigeria's first Floating Liquefied Natural Gas (FLNG) facility. Acting as Owner's Engineers, KBR will be responsible…

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Bumi Armada, Shapoorji Pallonji JV to Set Up FSRU in Mumbai Harbour

May 19, 2021

Through a joint venture firm with Shapoorji Pallonji, Malaysian floating production vessel company Bumi Armada has struck a deal to set up and operate a floating storage regasification unit (FSRU) in Mumbai Harbour. SP Armada Clean Energy Ventures Private Limited (SPACEVPL)…

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Some 30 FPSOs Could Go of Hire by 2022 End, Westwood Says

May 19, 2021

The number of FPSO leases set to expire in 2022 is significantly higher than the yearly average of ~3 since 2015, with the potential of 30 units becoming available by end of 2022, energy market research firm Westwood said Wednesday. Westwood…

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Petrobras Reverses Losses. Affirms Deepwater Focus

May 14, 2021

The new executive board of Brazil's Petrobras signaled on Thursday that it would largely follow plans set out by the previous administration, statements likely to ease investor concerns about the firm's tumultuous start to 2021. Chief Financial…

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JGC Lands Pre-FEED Deal for Nigeria's First FLNG Project

May 13, 2021

Japan's JGC has been awarded the Pre-Front End Engineering and Design (Pre-FEED) contract for an FLNG facility project in Nigeria. The project is being run by UTM Offshore Limited, a Nigerian private company engaged primarily in crude oil sales and construction equipment leasing…

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Gallery: Petrojarl Banff FPSO Arrives in Denmark for Recycling

May 12, 2021

Teekay's P etrojarl Banff FPSO completed its final voyage on May 8, 2021, and is now moored alongside the Modern American Recycling Services Europe A/S (MARS) quayside in Frederikshavn, Denmark in preparation for recycling. The decommissioned FPSO, which ceased production in the U.K.

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Invenergy, BW LNG Secure Financing for FSRU Project in El Salvador

May 12, 2021

Sustainable energy developer Invenergy and LNG solutions provider BW LNG have secured a $128.3 million loan from IDB Invest to fund the construction of a floating storage and regasification unit (FSRU), a key part of the Energía del Pacífico (EDP) LNG-to-power project in El Salvador.

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Remazel to Deliver Equipment for SBM Offshore's Prosperity FPSO

May 12, 2021

SBM Offshore, one of the world's largest suppliers of FPSOs, has hired the Italian engineering firm Remazel Engineering for the supply of a mooring tensioning system and riser pull-in package for an FPSO being built for deployment at ExxonMobil's Stabroek block in Guyana.

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Australia: Gov't Stuns Oil Firms with Levy to Decommission Abandoned Timor Sea Field

May 12, 2021

Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed.

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SBM Offshore Upbeat on New FPSO Projects after Q1 Revenue Drop

May 12, 2021

A string of new projects will help boost revenues at SBM Offshore, the oil and gas services company said on Wednesday, after reporting an expected 15% drop in the first quarter due to weakness at its turnkey business. The Dutch-based company's…

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BHP Selects McDermott for Trion Floater FEED

May 11, 2021

McDermott, an offshore engineering and construction firm, has been chosen by Australia's BHP Billiton, in collaboration with Mexico's Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion field development offshore Mexico.

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BW Offshore Taps NOV's APL for Barossa FPSO STP System

May 11, 2021

FPSO specialist BW Offshore has awarded NOV's APL a contract to supply a large submerged turret production (STP) system for the FPSO to be deployed at Santos' Barossa gas and condensate field located offshore of Australia. The Barossa field…

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Korea Shipbuilding & Offshore Engineering Confirms $764,5M FPSO Hull Order

May 11, 2021

Korea Shipbuilding & Offshore Engineering has through its subsidiary Hyundai Heavy Industries secured a ~$764,5 million order for the construction of an FPSO Hull. In a stock exchange filing on Tuesday, KSOE said it had secured a KRW 854,7 billion.

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Petrobras Orders Seventh FPSO for Buzios Field

May 10, 2021

Brazilian oil company Petrobras has ordered an FPSO from Singapore's Keppel Shipyard, in what will be the seventh FPSO unit installed in the Búzios field, in the Santos Basin. The FPSO, to be named P-78, will have a processing capacity of 180…

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