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ABS Grants AiP for Samsung's FLNG Spread Mooring System

January 10, 2022

The American Bureau of Shipping (ABS) has awarded Approval in Principle (AIP) to Samsung Heavy Industries’ (SHI) design for a one-side spread mooring system for a floating liquefied natural gas (FLNG) facility. The system developed by SHI allows an FLNG to be safely spread moored on one side…

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McDermott Lands Scarborough Floating Production Unit Work

January 10, 2022

Offshore engineering and construction firm McDermott has secured a contract with the Australian oil and gas firm Woodside to deliver hull and topsides for the floating production unit to be installed at Woodside's Scarborough development offshore Australia.

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VIDEO: Bluewater's UK-based FPSO Arrives in Norway for Upgrades

January 10, 2022

Bluewater's Haewene Brim FPSO, normally used for oil production from Shell's Pierce Field in the UK North Sea, has recently arrived in Haugesund, Norway. Norwegian engineering and construction Aibel shared a video of the FPSO arrival in Haugesund, towed by a Maersk Supply Service vessel.

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.
  • 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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Rystad: FPSO Contracts in 2021 Hit Pre-Pandemic Levels. Ten New Orders Expected in 2022

January 10, 2022

According to Rystad Energy research, the market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic's effect in 2021, driven mostly by Brazil demand, and is predicted to continue apace in 2022, with 10 new awards expected.

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Eni Extends BW Offshore's Abo FPSO

January 6, 2022

Italian oil company Eni has extended its contract for BW Offshore's Abo floating production storage and offloading (FPSO) vessel for another year. The FPSO's owner BW Offshore said Thursday it has signed the extension with Eni's subsidiary Nigerian Agip Exploration.

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ExxonMobil Makes Two Oil Discoveries Offshore Guyana. Liza Unity FPSO on Track for First Oil in 1Q

January 5, 2022

Oil and gas major ExxonMobil on Wednesday announced two new oil discoveries offshore Guyana, at Fangtooth and Lau Lau wells, adding to previous recoverable resource estimate of 10 billion oil-equivalent barrels. The Fangtooth-1 well, drilled with the Stena DrillMAX drillship…

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Yinson Gets Charter Extension for FPSO in Vietnam

January 4, 2022

Malaysian FPSO supplier Yinson announced on Monday it secured a six-month extension for the bareboat charter contract for the FPSO PTSC Lam Son The 243 meters long Lam Son FPSO, able to produce 15,000-20,000 barrels of oil per day (bopd), with a storage capacity of up to 650…

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OPEC+ Decision Reflects Easing Concern of Oil Surplus, Omicron Risk

January 4, 2022

OPEC+'s decision this week to stick to its planned increase in oil output for February reflects easing concern of a big surplus in the first quarter, as well as a wish to provide consistent guidance to the market, sources and analysts said.

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Exxon Signals Fourth Quarterly Profit in a Row

December 30, 2021

Exxon Mobil Corp on Thursday signaled a return to annual profit for 2021 as stronger oil and gas prices drove a gain of up to $1.9 billion in operating profits that exceeded one-time charges. The largest U.S. oil producer issued a snapshot of…

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Guyana Approves Wealth Fund, Local Content Rules for Expected Oil Boom

December 30, 2021

Guyana's parliament on Wednesday approved local content rules for oil producers and a sovereign wealth fund to oversee the South American nation's earnings from a budding oil bonanza. International oil producers have discovered 10 billion barrels…

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Petrobras Declares Commercial Viability at Four Offshore Concessions

December 31, 2021

Brazilian state-run oil company Petrobras has declared four offshore concessions in the states of Alagoas and Sergipe commercially viable in presentations to the nation's oil regulator, it said in securities filing on Thursday. The company has…

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Oil Prices Hold Near $80 on Tight Supply and Stocks Drop

December 29, 2021

Oil prices held close to $80 a barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand. Brent crude rose to as much as $79.20 a barrel before retreating to trade 24 cents down on the day at $78.70 by 1427 GMT. U.S.

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How to Reduce Risk Across the Lifecycle of Floating Production Assets

December 28, 2021

Using digital transformation to mitigate risks and increase performance of offshore rigs Floating production storage and offload vessels (FPSOs) are among the largest investment trade-offs an oil and gas producer will make. On the one hand,…

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PetroRio Pressing Ahead with Wahoo Development Offshore Brazil

December 22, 2021

Brazilian oil firm PetroRio has said it has filed with Brazil's National Petroleum Agency (“ANP”) the Declaration of Commerciality of the Wahoo  discovery, as well as the Development Plan in exclusive operations. The Wahoo discovery is located at the C-M-101 Block…

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Yinson, Enauta Pen LoI for Atlanta Field FPSO

December 20, 2021

Malaysian FPSO contractor Yinson has signed a Letter of Intent with the Brazilian oil company Enauta Energia for the provision, operation, and maintenance of an FPSO at Enauta's Atlanta field in the Santos Basin, offshore Brazil. Enauta has…

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TotalEnergies, QatarEnergy, Petronas Win Sépia Field Rights (Brazil)

December 17, 2021

Malaysian oil firm Petronas said Friday it had with its consortium partners won the rights to the Sépia field, located in the Santos Basin, during Brazil’s Second Transfer of Rights Surplus Volume Bidding Round held in Rio de Janeiro. Sépia is a pre-salt oil field in the Santos Basin…

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FPSO for Greater Tortue Gas Project Due in Senegal by end-2022

December 17, 2021

BP's floating, production, storage, and offloading vessel (FPSO) for the Greater Tortue Ahmeyim gas project offshore West Africa is expected in Senegal waters for commissioning and testing by the end of 2022, a company executive said on Friday.

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OMV Exits Barents Sea Oil Field With $320M Sale to Lundin Energy

December 17, 2021

Austrian oil and gas company OMV has completed the sale of its stake in the Wisting oil field in the Barents Sea, offshore Norway, to Lundin Energy. The two companies had signed the sale and purchase agreement in October 2021, and after obtaining the necessary approvals from Norwegian authorities…

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Kongsberg Maritime Upgrades Alvheim FPSO's Safety and Automation Systems

December 16, 2021

Kongsberg Maritime said Thursday it had successfully upgraded the safety and automation systems on Aker BP's Alvheim FPSO in Norway. Formerly a tanker named Odin, the vessel was converted into an FPSO in 2008 and renamed Alvheim in recognition of the oil field in which it operates…

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ABS Launches Floating Production Life Extension Guide

December 14, 2021

American Bureau of Shipping has further developed its approach to aging offshore assets with the publication of the Guide for Life Extension of Floating Production Installations. ABS said that the guidance supported operators looking to extend…

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Excelerate Sequoia FSRU Starts Operations in Brazil

December 10, 2021

Excelerate Energy has started natural gas deliveries to the Brazilian market at the Bahia Regasification Terminal (TR-BA) in Salvador, Bahia, in Brazil. Excelerate's floating storage and regasification unit (FSRU) Excelerate Sequoia, which has an LNG storage capacity of 173…

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