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Aker to explore options for Aker Energy after Ghana plan filing

May 9, 2018

Norwegian investment firm Aker will consider options for its stake in oil startup Aker Energy after the unit has appraised its offshore field in Ghana and submitted a development plan for the site to the Ghanaian government. Aker Energy bought…

Argentina Offshore Auction Attracting Oil Producers

May 9, 2018

International oil firms including Norway's Statoil, U.S. Anadarko Petroleum, China's CNOOC and Malaysia's Petronas have shown interest in Argentina's auction this year of offshore blocks for exploration and production, the country's energy minister said on Wednesday.

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Norway Launches New Licensing Round in Mature Offshore Areas

May 9, 2018

Norway will hold a new licensing round for its offshore oil and gas fields in already opened areas, further expanding the exploration acreage available to energy firms, the oil ministry said on Wednesday. Areas in the North Sea, the Norwegian Sea and the Barents Sea will be offered to oil companies…

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Sanctions spell the end of OPEC output deal

May 9, 2018

President Donald Trump’s decision to withdraw from the nuclear agreement with Iran marks the end of the current output agreement between OPEC and its allies. OPEC is likely to insist the current agreement remains in effect, at least for now…

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Asset Sales Help Boost Petrobras Q1 Profit

May 8, 2018

Brazil's state-controlled oil company Petróleo Brasileiro SA reported a 56.5 percent rise in net profit in the first quarter, helped by asset sales, a filing showed on Tuesday. Petrobras, as the company is known, posted a net profit of 6.961…

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Shell Awards Deepwater Installation Contract in GOM

May 8, 2018

In another sign that activity in the moribund offshore sector is starting to loosen, Jumbo said that it has won the installation contract for the Shell deep-water Vito development in the US Gulf of Mexico. The Vito development is located in the Mississippi Canyon…

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Jumbo Completes Work on Bangladesh FLNG Terminal

May 4, 2018

In 2017 Jumbo was awarded a contract by Geocean for the Moheshkhali Project, which is seeing a floating liquefied natural gas (LNG) import terminal developed off the shores of Moheshkhali Island in the Bay of Bengal, Bangladesh. It will be the…

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India's First FSRU Based LNG Terminal Launched

May 3, 2018

H-Energy Gateway, the energy venture of Hiranandani Group, launched India’s first Floating Storage Regasification Unit (FSRU) based LNG terminal at JSW Jaigarh Port in Ratnagiri District, Maharashtra. The Jaigarh Port is owned & operated by…

Flintstone Secures Contract for Tullow FPSO

May 2, 2018

Flintstone Technology Ltd said it has secured a contract with MODEC for its in-line tensioning and pull through connection mooring system to be deployed off West Africa. The system will be used on Tullow Oil’s Kwame Nkrumah MV21 floating production…

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MISC awards BV contract for Veristar AIM3D

May 1, 2018

Bureau Veritas (BV) has been awarded a contract by MISC Berhad (MISC) to deploy and support the VeristarAIM3D ‘software as a solution’ system to provide asset integrity services on selected MISC FPS systems:the Floating Storage & Offloading (FSO) vessel -FSO Benchama 2and the Floating Production…

Chevron to Idle Gorgon LNG Unit in May

April 30, 2018

Chevron will idle the second production unit at its Gorgon liquefied natural gas (LNG) project in May to carry out modifications already implemented at the other two units, a senior executive said. Pat Yarrington, Chevron's vice president and chief financial officer…

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Heavy Lift: Boka Vanguard to Ship 90,000-ton FPSO

April 30, 2018

Boskalis' mega lift ship Boka Vanguard -- the world's largest semi-submersible heavy lift vessel -- is preparing to load a truly enormous cargo: a 90,000-ton floating production, storage and offloading (FPSO) platform. The FPSO is equivalent to the weight of approximately 300 Boeing 747s…

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Petrobras Seeks Partnerships

April 30, 2018

Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in Northeast and South regions of Brazil. Petrobras intends to sell 60% of its equity interest in each of these new companies .

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BP Names Former Statoil Boss Lund as Next Chairman

April 27, 2018

BP named Helge Lund, a former head of Norway's Statoil, as its next chairman on Thursday, as the British oil major looks to extend a period of rapid growth after recovering from a deadly oil spill in 2010. Lund, who also led BG Group during its acquisition by rival Royal Dutch Shell…

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Changes in Statoil's Top Deck

April 27, 2018

Statoil said on Friday it had expanded its leadership team and changed its corporate structure to reflect the company's increased focus on Brazil. Statoil's Brazilian operations will become a separate business unit headed by Margareth Oevrum…

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Resilient Market Spurs Aker Solutions's Earnings

April 27, 2018

Norwegian oil services company Aker Solutions reported strengthened earnings for the first quarter of 2018 as orders almost doubled from a year earlier amid increasing signs of a market recovery. "We are seeing increasing signs of a market rebound…

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Sembcorp Marine Outlook Subdued on Q1 Profit Slump

April 25, 2018

Singaporean rig builder Sembcorp Marine Ltd said on Wednesday first-quarter profit fell 86 percent, and signaled a subdued outlook for orders and business volumes. Sembcorp Marine said profit came in at S$5.3 million ($4 million) for the three-month period ended March…

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Petrobras starts production of Búzios field, Santos Basin

April 21, 2018

Petrobras started (20/4) the production of the Búzios field, in the pre-salt of the Santos Basin, through the platform P-74. Búzios is the first field in production under an Onerous Assignment regime. The P-74 is located about 200 km off the coast of the state of Rio de Janeiro…

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Petrobras March Production Dips

April 21, 2018

Petrobras reports that, in March its total production of oil and gas, including natural gas liquids (NGL), was 2.66 million barrels of oil equivalent per day (boed), with 2.56 million boed produced in Brazil and 99 thousand boed produced abroad.

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Life Extension for FSO Njord Bravo

April 19, 2018

Statoil, on behalf of the Njord license, awarded a NOK 1.3 billion ($168 million) contract to Aibel to upgrade the Njord Bravo floating storage and offloading (FSO) vessel in the Norwegian Sea. The FSO will be prepared for extended operation of the Njord and Hyme fields…

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ScanReach's In: New Safety at Sea Tech

April 19, 2018

Norwegian start-up technology firm ScanReach is set to redefine safety standards at sea with In:Range, a unique system capable of locating anyone on a vessel or offshore installation in real time. The plug and play technology is simple, easy to install…

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