Stories

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Bad Weather Stalls Bangladesh FSRU Hook Up

August 2, 2018

A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.

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Petronas Appoints Ahmad Nizam Salleh as New Chairman

August 1, 2018

Malaysia has appointed Ahmad Nizam Salleh as the new chairman of state-owned oil company Petroliam Nasional Bhd effective immediately, according to a statement from the prime minister's office on Wednesday. Ahmad Nizam has worked in the oil…

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Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040

July 31, 2018

Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday. The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator…

Floating Production Systems Report And Online Database

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Aker BP Adds More Acreage off Norway

July 31, 2018

Norway's independent oil firm Aker BP has agreed to buy stakes in 11 production licenses off Norway from French Total for a cash consideration of $205 million, the company said on Tuesday. The portfolio includes four discoveries with net recoverable…

Shell to Make Final Investment Call on Nigeria Oilfield in 2019

July 31, 2018

Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company official said on Tuesday. The project, one of the country's largest with an expected production of 180…

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Singapore's Offshore Industry Recovering

July 30, 2018

A big drag on Singapore's growth in recent years, the embattled offshore and marine industry, has broken a three-year losing streak. Yet industry executives aren't betting on a return to the glory days anytime soon. The industry, along with a top-class finance sector…

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Bureau Veritas Issues New FSRU Guidelines

July 30, 2018

Bureau Veritas has issued new and updated notations and guidance to support the construction and operation of both Floating Storage and Regasification Units (FSRUs) and Floating Storage Units (FSUs). Interest in FSRUs and FSUs is growing as floating gas terminals offer operational flexibility…

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SBM Offshore Reaches Settlement in Brazil Corruption Probe

July 27, 2018

SBM Offshore has reached a settlement in a long-running corruption investigation it faced in Brazil, allowing the Dutch marine engineering group to take up new business there. SBM said late on Thursday it would pay approximately $189 million…

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Total Starts Production at Offshore Angola's Kaombo Project

July 27, 2018

French energy group Total said on Friday that it had started production at the Kaombo project, which is currently the biggest, deep offshore development in Angola. Kaombo Norte, the first 'Floating Production Storage and Offloading' (FPSO) unit…

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CNIV Module Installed on Erha FPSO in Nigeria

July 27, 2018

The Jumbo Javelin and her team have successfully installed a 100t Calcium Nitrate Injection Vessel (CNIV) module on the ERHA FPSO offshore Nigeria for Mobil Producing Nigeria (MPN). For this assignment the Jumbo Javelin had the Fly-Jib installed in Singapore.

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Wison Wins FEED Contract for Canadian FLNG Project

July 27, 2018

Wison Offshore & Marine announced it has been awarded a contract to carry out front-end engineering design (FEED) for a proposed floating liquefied natural gas (FLNG) project sited in British Columbia, Canada. Wison said it has entered into…

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Equinor Q2 Core Earnings Lag Forecasts

July 26, 2018

Norwegian oil and gas firm Equinor said on Thursday second-quarter adjusted operating income rose from a year ago but missed forecasts due to higher maintenance costs at its Norwegian fields. The company formerly known as Statoil also said it was too early to follow peers…

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ConocoPhillips Raises FY18 Capex, Output Target

July 26, 2018

Oil and gas producer ConocoPhillips topped Wall Street estimates for quarterly profit on Thursday and raised its capital budget and annual production target for 2018, as it seeks to take advantage of higher crude prices. Houston-based ConocoPhillips…

FPSO La Noumbi on Track for Q3 Delivery

July 26, 2018

Keppel Offshore & Marine said its Keppel Shipyard subsidiary is on track to deliver a floating production storage and offloading vessel (FPSO) to Dixstone holdings, an affiliate of the Perenco Group, on time in 3Q 2018. The FPSO, named La Noumbi at Keppel Shipyard today…

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Shell Launches $25 Bln Buyback Plan, Q2 Profits Misses

July 26, 2018

Royal Dutch Shell said on Thursday it would launch a long-anticipated $25 billion share buyback program after profits soared and debt pile eased in the second quarter. Shell's net income attributable to shareholders in the quarter, based on…

Plans for Another South Australia LNG Import Plant in the Works

July 23, 2018

A private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports. Venice Energy…

Exxon Expects More Oil from Guyana's Offshore Block

July 23, 2018

Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday. Exxon and U.S.-based partner Hess Corp said more than 4 billion…

Keppel Wins FPSO, FSRU Contracts

July 22, 2018

In Brazil, Keppel FELS Brasil Ltda (Keppel FELS Brasil) has been engaged by MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group, to undertake the topside module fabrication and integration of the FPSO Carioca MV30…

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Petrobras to Start Up Four New Platforms in Q4

July 19, 2018

Brazil's state-controlled oil company Petrobras will start pumping pre-salt oil from four new platforms between October and December, the company's director for production and technology development Hugo Repsold said on Wednesday. Speaking to reporters at an oil industry event…

M2 Subsea Wins Premier Oil Contract

July 18, 2018

Remotely operated vehicle (ROV) services provider M2 Subsea has said it has secured a contract to provide inspection services for Premier Oil’s Balmoral Floating Production Vessel (FPV). M2 Subsea, which has bases in Aberdeen and Houston, will carry out the 2018 inspection of the vessel’s hull…

Petrobras Output in Campos Drops to Lowest Level in 17 Years

July 18, 2018

Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data.

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