Stories

Technip Energies Hires Havfram for Tortue Ahmeyim FPSO Work

June 10, 2021

Norwegian offshore services company Havfram, previously known as Ocean Installer, has won a contract with Technip Energies in Africa. The contract is for the pre-installation and subsequent hook-up of the subsea mooring system for a natural…

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Yinson to Conduct pre-FEED for TotalEnergies' Suriname, Angola FPSOs

June 9, 2021

Malaysian FPSO specialist Yinson has been selected by TotalEnergies, to conduct preliminary Front-End Engineering Design (“pre-FEED”) for two FPSOs to be installed in Block 20/21 in Angola and Block 58 in Suriname. The Angola project FPSO is…

Siccar Point Applies for Cambo Field Development Consent

June 7, 2021

UK-focused oil and gas company Siccar Point Energy has made an application for consent to the Oil and Gas Authority for an environmental statement for the Cambo field development located near the UK/Faroe Island transboundary line. The Cambo…

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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Hurricane Energy Seeks Shorter FPSO Charter to Avoid Business Wind-down

June 4, 2021

Hurricane Energy plc, an oil and gas company that produces oil from the Lancaster field off the UK, is facing business wind-down unless it agrees a shorter charter extension for the Aoka Mizu FPSO than originally agreed. The company, which started…

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Excelerate's FSRU Starts Operations in Argentina's Bahia Blanca

June 3, 2021

Excelerate Energy’s floating storage and regasification unit (FSRU) the Exemplar has begun operations in Bahia Blanca, a port city located 400 miles south of the Argentine capital Buenos Aires. The Exemplar, with a storage capacity of 150,900 m3…

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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.

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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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