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Africa's FPSO Market Destined for Growth
Despite the lingering volatility of global commodity prices, Africa's offshore oil and gas industry has continued to expand, albeit not as fast, opening up more market opportunities for floating production storage and offloading (FPSO) vessel manufacturers and suppliers.
Oil Surges 8% After Steep Slide
Oil surged on Wednesday, posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017. Both U.S. and Brent crude rose about 8 percent, their largest one-day increase since Nov.
Prelude FLNG Starts Production in Australia
Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.
Floating Production Systems Report And Online Database
- Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the 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 240 planned projects, 370 installations in service, 70+ floaters on order and 20+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
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Ghana Exploration Licensing Round Attracts Global Majors
Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country's first exploration licensing round, its energy ministry said. The interest is a major vote of confidence in Ghana…
BP Green-lights Greater Tortue Ahmeyim Project
BP and its partners announced on Friday that the green light has been given for the first phase of the Greater Tortue Ahmeyim project off the coast of Mauritania and Senegal. The cross-border development, a first for the two West African nations and Africa's deepest offshore project at 2…
Vår Energi Awards Jotun FPSO FEED to Aker Solutions
The newly formed exploration and production (E&P) company Vår Energi is progressing the redevelopment of the Balder and Ringhorne area offshore Norway and a FEED contract for the Jotun FPSO life extension has now been signed with Aker Solutions.
US Crude Inventory Drops for Third Week
U.S. crude inventory declined again last week. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates an inventory fall of 0.5 million barrels in the week ended December 14. While only a small drop, it is the third decline in a row. While EIA data include only U.S.
Ocean Installer Clinches Johan Castberg Deal
Norwegian subsea contractor Ocean Installer and Norwegian multinational energy company Equinor ASA have signed a contract that covers the FPSO mooring installation, tow out and hook-up of the Johan Castberg FPSO in the Barents Sea. Johan Castberg…
Lithuania Plans to Buy an FSRU
Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas. Klaipedos Nafta is currently…
BP Nears FID at Platina Field Offshore Angola
Angola’s Sonangol and British supermajor BP on Monday signed an agreement to progress to final investment decision (FID) for the development of the Platina field in the BP-operated deepwater Block 18, offshore Angola. Platina would be BP’s first…
First Contracts Awarded for Senegal FPSO Project
Woodside and Cairn Energy awarded front-end engineering contracts for Senegal's first oil project, a key step before a final investment decision expected in mid-2019, Woodside said on Monday. The project's first phase targets the unlocking of…
Uniper intensifies LNG plans with Japan's Mitsui OSK
Mitsui OSK Lines to own, fund FSRU in Wilhelmshaven; FSRU could be operational in H2 2022. Energy group Uniper on Monday entered agreements with Japanese shipping group Mitsui OSK Lines to handle potential deliveries of liquefied natural (LNG) gas into Germany.
Norne FPSO Extended Through 2036
Norway's Petroleum Safety Authority has given Equinor the green light to extend the operation of the Norne floating production storage and offloading vessel (FPSO) and associated facilities until the end of 2036. "The consent has been granted…
Norway Postpones Decision on Arctic Oil Terminal
The Norwegian government has postponed a decision on whether to mandate the construction of an oil processing terminal near the Arctic tip of northern Europe until the third quarter of next year, it said on Friday. If built, the onshore Veidnes…
Western Gas Chooses McDermott, BHGE for Equus Project
Western Gas announced Wednesday it has signed a Memorandum of Understanding (MOU) with oil and gas service and technology providers McDermott International and Baker Hughes, a GE company (BHGE), for the development of the Equus Gas Project offshore Western Australia.
Brazil Reaches Deal with Petrobras Over Transfer of Rights Area
The Brazilian government has reached an agreement with state-controlled oil company Petróleo Brasileiro SA over the so-called transfer of rights area, Finance Minister Eduardo Guardia said on Wednesday. Guardia declined to disclose values nor who is owed what under the terms of the agreement.
Eni Must Improve Safety in the Arctic -Norway Watchdog
Italian oil company Eni must do more to improve safety at its Arctic Goliat oilfield, which produces up to 100,000 barrels of crude per day, Norway's oil safety watchdog said on Tuesday. The world's northernmost oilfield has suffered a number of incidents since it started production in March 2016.
Husky Energy ‘Deeply Sorry’ for Oil Spill off Newfoundland
Canada's petroleum company Husky Energy submitted a preliminary report about the largest-ever oil spill in Newfoundland and Labrador and said it is “deeply sorry” for the incident. According to local media reports, the oil and gas vcompany admitted that on November 16…
Tailwind Energy Hits First Oil From UK North Sea
New UK North Sea-focused oil and gas company Tailwind Energy has announced first oil from the 100% owned Gannet E redevelopment to the Triton FPSO. The London-based contracts services company for North Sea work said in a press note that the…
BW Offshore Recycling FSO Belokamenka
The provider of floating production services to the oil and gas industry BW Offshore has signed an agreement to dispose of the FSO Belokamenka for recycling in compliance with the Hong Kong Convention. The Oslo-listed company said in a press…
Eni Makes New Oil Find Offshore Angola
Italy's Eni said it ha struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola. The discovery, estimated to contain between 170 and 200 million barrels of light oil in place, was made in the Afoxé-1 NFW well located in the southeast area of Block 15/06…