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Woodside, Partners in Talks over $4.2B Sangomar Project Timing
Woodside Petroleum and its partners are in talks on the timing of their $4.2 billion Sangomar oil project off Senegal, with coronavirus restrictions and collapsing oil prices hampering work on the project. Woodside, Cairn Energy Plc, FAR Ltd…
Only a Handful of FPS to Be Ordered in 2020, Down from 18 Expected
Energy intelligence company Wood Mackenzie has downgraded its expectations when it comes to new orders for floating production systems in 2020, citing the oil price crash. Mhairidh Evans, principal analyst in Wood Mackenzie’s upstream supply…
New Oil and Gas Project Spending to Fall 68% in 2020 if Oil Price Stays Low
Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday. "The effect of the COVID-19 virus on global demand for oil and gas…
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Teekay Offshore Changes Name
Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name. The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective 24 March 2020.
U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices
The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in…
China's CNOOC to Load First Cargo of Guyanese Oil Soon
China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said. CNOOC has a 25% stake in…
Energean Power FPSO Hull to Sail Away in "Coming Weeks"
Israel-focused oil firm Energean expects the hull of its Energean Power FPSO will set sail from China in the coming weeks, easing concerns of potential further delays, after it last month warned over the possible impact of the coronavirus outbreak in China on the FPSO construction.
Equinor Puts Off Canadian Offshore Project
Norway's Equinor and Canada's Husky Energy have reportedly pulled brakes on the plan to develop the Bay du Nord project offshore Canada, Reuters reported on Thursday. "Equinor and partner Husky Energy have decided to defer the Bay du Nord development…
Lankhorst Deepwater Mooring Lines for Liza Unity FPSO
Lankhorst Offshore reports it has been awarded a contract by SBM Offshore to supply the deepwater mooring lines for the Liza Unity Floating Production Storage and Offloading (FPSO) for ExxonMobil’s Liza oil field offshore Guyana, South America.
Petrobras China-built FPSO Hull Reaches Brazil
China-built hull of Petrobras P-71 FPSO has reached Brazil where topside integration will take place at the Jurong Aracruz Shipyard (EJA). The 316 meters long, 54 meters wide, hull, built by CIMC Raffles, had set sail from China on December 12, 2019. It entered Brazilian waters on Monday, March 16.
BW Energy Slashes Gabon Spending Plans
Oil and gas company BW Energy, with assets in Gabon and Brazil, has decided to cut down its planned Gabon investments by 50 percent, citing coronavirus outbreak, oil price uncertainty, and restriction on international travel. "The impact of…
BW Pioneer FPSO Stays in Gulf of Mexico for 5 More Years
FPSO leasing specialist BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields in the U.S. Gulf of Mexico. The contract was signed with MP Gulf of Mexico, am 80/20 partnership with Murphy Oil and Petrobras.
Repsol Sinopec to Tie-In Tain to Bleo Holm FPSO
UK-based oil and gas operator Repsol Sinopec is planning to apply for permission for the development of the Tain field in the Central North Sea, offshore the UK. The Tain field is located in Block 13/23b. The Tain field will be developed by…
Petrobras Suspends International Travel Due to Coronavirus
Brazilian state-run oil firm Petroleo Brasileiro SA has suspended employees' international travel amid the global health crisis caused by the coronavirus, according to a statement on Monday. Petrobras, as the company is known, also said workers older than 65 years of age will have to work remotely.
Brent, WTI Fall as Coronavirus Spreads
Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
Cairn Confident of Securing Sangomar Funding
London-listed oil and gas company Cairn Energy has provided an update of its operations including the progressing of the Sangomar Field Development offshore Senegal despite the having yet to attract the necessary funding for its share of the costs.
Cairn Ups Kraken Reserves Estimate
Cairn Energy on Tuesday revised up reserves at its British North Sea Kraken oil field, which is majority-owened by EnQuest, effectively reversing a $163 million impairment it had booked on a Kraken downgrade a year ago. Cairn, which owns 30% of Kraken…
BW Energy Boosts Tortue Phase 2 Output with New Well
BW Energy has brought online the second oil well (DTM-4H Gamba) drilled as part of the Tortue Phase 2 development project in the Dussafu Marin Permit offshore Gabon. The well was put online on Saturday, March 7. "The start of production from…
Global Mariner Offshore Sues Yinson, THHE, Floatech
Malaysian oil and gas services provider Global Mariner Offshore has launched legal action against TH Heavy Engineering, Floatech, Yinson, and several other parties, seeking RM74,800,000 plus interest in damages. Global Mariner is a 20 percent owner of Floatech…
Hurricane, Spirit Update GWA Farm-In Terms
Hurricane Energy and Spirit Energy, partners in the Greater Warwick Area offshore the Shetland Islands, have updated the terms of the farm-in the companies had entered in September 2018. The two companies originally agreed on a phased work program…
Premier Oil Targets Carbon Neutral Operations by 2030
British North Sea-focused oil and gas producer Premier Oil has committed to carbon-neutral operations at its fields by 2030, reporting a record free cash flow of $327 million last year, up around 30% and boosted by its flagship Catcher field.