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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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SBM Offshore Upbeat on New FPSO Projects after Q1 Revenue Drop

May 12, 2021

A string of new projects will help boost revenues at SBM Offshore, the oil and gas services company said on Wednesday, after reporting an expected 15% drop in the first quarter due to weakness at its turnkey business. The Dutch-based company's…

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BHP Selects McDermott for Trion Floater FEED

May 11, 2021

McDermott, an offshore engineering and construction firm, has been chosen by Australia's BHP Billiton, in collaboration with Mexico's Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion field development offshore Mexico.

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.
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BW Offshore Taps NOV's APL for Barossa FPSO STP System

May 11, 2021

FPSO specialist BW Offshore has awarded NOV's APL a contract to supply a large submerged turret production (STP) system for the FPSO to be deployed at Santos' Barossa gas and condensate field located offshore of Australia. The Barossa field…

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Korea Shipbuilding & Offshore Engineering Confirms $764,5M FPSO Hull Order

May 11, 2021

Korea Shipbuilding & Offshore Engineering has through its subsidiary Hyundai Heavy Industries secured a ~$764,5 million order for the construction of an FPSO Hull. In a stock exchange filing on Tuesday, KSOE said it had secured a KRW 854,7 billion.

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Petrobras Orders Seventh FPSO for Buzios Field

May 10, 2021

Brazilian oil company Petrobras has ordered an FPSO from Singapore's Keppel Shipyard, in what will be the seventh FPSO unit installed in the Búzios field, in the Santos Basin. The FPSO, to be named P-78, will have a processing capacity of 180…

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BP Hires Petrofac for Greater Tortue Ahmeyim Operational Procedures Work

May 10, 2021

Oil major BP has hired oilfield services company Petrofac to develop operational procedures for the company's  Greater Tortue Ahmeyim  project offshore Mauritania and Senegal. Centered on minimizing risk and harm to personnel, plant and the environment…

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Total Brings Online Zinia Phase 2 Offshore Angola

May 6, 2021

French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO. The  Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40,000 barrels of oil per day by mid-2022.

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Long-term Contract: Axess to Inspect Altera's FPSOs

May 5, 2021

Norway-based Axess Group has signed an offshore support services contract with FPSO operator Altera Infrastructure. Axess said this week that the long-term global contract would see Axess provide offshore support services to FPSO assets located…

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Brazil: Petrobras Invites Bids for Ninth Buzios Field FPSO

May 3, 2021

Brazilian oil company Petrobras on Friday started the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt area, offshore Brazil. Called P-80, the FPSO will be the ninth unit to operate in the field…

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Petrobras Will Bid for Atapu and Sepia Oil Fields

April 29, 2021

Brazil's Petroleo Brasileiro SA will exercise its rights of first refusal and bid for the deepwater oil fields Sepia and Atapu, the company said in a filing. Petrobras, as the state-controlled producer is known, is aiming at a 30% stake in each field…

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Petrobras Q1 Production Buoyed by Atapu

April 27, 2021

Brazil's Petrobras produced 2.196 million barrels of oil a day in the first quarter, the state-run company said on Tuesday, an increase from the fourth quarter, but a decline in yearly terms. Petroleo Brasileiro SA, as the company is formally known…

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Eni Starts Gas Production at Merakes Project off Indonesia

April 27, 2021

Italian supermajor Eni said it has commenced gas production from the deepwater Merakes project, located in the East Sepinggan block in the Makassar Strait, offshore East Kalimantan, Indonesia. The development sits in approximately 1,500 meters water depth in the Kutei Basin.

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Santos Green Lights TechnipFMC for Barossa Subsea Scope

April 27, 2021

TechnipFMC said it received a notice to proceed for a subsea production system contract from Australian gas producer Santos for the Barossa field development project, located 300 kilometers north of Darwin. The contract scope covers the supply of subsea trees and associated control systems…

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ExxonMobil Makes Oil Discovery at Uaru-2 Offshore Guyana

April 27, 2021

U.S. oil major ExxonMobil said on Tuesday it made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana. Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently…

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Fugro Assisting Jumbo with Mero 1 Offshore Work in Brazil

April 21, 2021

Dutch offshore services provider Fugro has won a deal with offshore transportation and installation firm Jumbo Maritime to provide providing positioning and construction support services on the Mero 1 deepwater field development, offshore Brazil.

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Equinor: Several Factors Behind Faulty Welds on Johan Castberg FPSO Hull

April 19, 2021

Norwegian oil and gas giant Equinor last year said that the delivery of an FPSO, being built for the Johan Castberg field development in the Barents Sea, would be delayed after the company discovered issues with the weld quality of the hull of the FPSO under construction in Singapore.

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VIDEO: After Modest 2020, the Years 2021 and 2022 Could Be 'Pretty Good' for FPS Orders

April 19, 2021

There's one thing that's certain about the price of oil, it goes up and it goes down, but nobody knows when that will happen, Jim McCaul, an expert in the offshore floating production sector for 30 years, recently said in an interview for Offshore Engineer TV…

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Keppel in Talks with Petrobras to Build FPSO for Buzios Field

April 19, 2021

Singapore's Keppel Corporation has confirmed it has been in talks with the Brazilian oil company Petrobras to built an FPSO vessel for the Buzios field offshore Brazil. In a statement on Friday, responding to an article by Upstream Daily News, Keppel Corp.

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BP Suspends Output from Foinaven Fields as Long-Serving FPSO Petrojarl Foinaven Nears End of Life

April 15, 2021

British oil major BP has suspended production from the Foinaven fields west of Shetland in the UK, as the long-serving FPSO Petrojarl Foinaven through which the fields are producing oil is nearing the end of its 25-year design life, and will be removed from site.

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Australia: Santos Looking to Sell Down Stake in Dorado Offshore Oil Project

April 8, 2021

Australian gas producer Santos has hired Goldman Sachs to sell a 20%-30% stake in its Dorado oil project and Bedout exploration portfolio offshore western Australia, according to a sales document seen by Reuters and confirmed by the group. Dorado…

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