Stories

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Hurricane Raises 2020 Production Guidance

July 11, 2019

Hurricane Energy's shares recorded their biggest daily rise since 2017 on Thursday, jumping more than 13% after the group upped its production guidance for 2020 on positive results from its so-called fractured basement reservoirs in Britain.

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Oil at Six-week High

July 11, 2019

Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm , while an incident with a British tanker in the Middle East highlighted tensions in the region. Brent crude futures were up 32 cents at $67.33 a barrel by 1153 GMT.

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Near Miss on the Terra Nova FPSO

July 10, 2019

Canada's offshore safety regulator said it is monitoring Suncor Energy’s continued investigation into a potentially fatal incident on board the Terra Nova floating production, storage and offloading unit (FPSO) that occurred on June 24. The incident…

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Woodside Starts Commissioning at Greater Enfield

July 10, 2019

Australia's Woodside Petroleum Ltd has started commissioning activities at the $1.9 billion Greater Enfield oil project off the state of Western Australia, two people with knowledge of the matter said on Wednesday. Oil from the project is expected to be sought after by traders in Asia.

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Oil Rises Toward $65

July 9, 2019

Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand. OPEC and its allies led by Russia agreed last week to extend their supply-cutting deal until March 2020.

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Floater Sector Active Despite Market Volatility

July 8, 2019

Activity in the floating production sector has not been slowed by the recent volatility seen across global oil markets, according to a recent report by World Energy Reports (WER). Brent oil, which had reached as high as the mid $70 range earlier this year…

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NOV to Supply STP for MJ FPSO

July 3, 2019

APL, a business unit within NOV's Completion & Production Solutions segment, has secured the contract from South Korean builder Samsung Heavy Industries to supply a large submerged turret production (STP) system for a newbuild floating production…

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Eni Awarded License Offshore Ghana

July 3, 2019

Eni and its partners have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana, the Italian supermajor announced of Wednesday. Eni said it will be the operator of the license, and its…

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Eni Starts Producing from Miztón Offshore Mexico

July 2, 2019

Italian supermajor Eni said it has started the early production phase from the Miztón field, located in the Campeche Bay offshore Mexico, marking the first step in the development of Area 1, which is estimated to hold 2.1 billion of oil equivalent in place (90% oil) in the Amoca…

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Aker BP Discovers Oil at Frosk

July 2, 2019

Aker BP ASA, operator of production license 340, has finalized the results after drilling wildcat well 24/9-15 S (Froskelår Nordøst) and appraisal well 24/9-15 A. According to a press note from the Norwegian Petroleum Directorate (NPD), the wells…

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Shell, Exxon Eye Somalia's Offshore

June 28, 2019

Royal Dutch Shell and Exxon Mobil are looking to return to Somalia ahead of an oil block bid round later this year, the East African country's oil ministry said. Shell and Exxon Mobil had a joint venture on five offshore blocks in Somalia prior…

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Guyana's First FPSO Named Liza Destiny

June 27, 2019

Dutch-based global group SBM Offshore said that its FPSO, Liza Destiny, destined for ExxonMobil’s Liza field in Guyana, was named at Keppel Shipyard in Singapore. “This is a very special vessel, which will be the first to operate offshore Guyana.

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IPC Begins Drilling Program in Malaysia

June 26, 2019

The oil and gas exploration and production company International Petroleum Corporation (IPC) has commenced drilling the first well in a planned multi-well drilling program on Block PM307, located offshore Peninsular Malaysia. Canada-based IPC…

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Curlew FPSO Arrives in Dundee for Cleaning Ahead of Scrapping

June 25, 2019

Shell's Curlew floating production, storage and offloading vessel (FPSO) arrived in Dundee, Scotland on Saturday for cleaning and waste disposal in preparation for full decommissioning. The work will be undertaken in the Port of Dundee by Augean North Sea Services (ANSS)…

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Yinson Gets Extension for Vietnam FPSO

June 25, 2019

Malaysian floater company Yinson  Holdings Bhd has secured another extension of its floating production storage and offloading (FPSO) with Petrovietnam Technical Services Corp (PTSC) for operations at the Lam Son Field. According to the second addendum to the interim contract…

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Teekay, Alpha Petroleum FPSO Deal Terminated

June 22, 2019

Teekay Offshore Partners, midstream services provider to the offshore oil production industry, said that the agreement with Alpha Petroleum signed in October 2018 for Teekay’s Petrojarl Varg vessel to operate on Alpha’s 100%-owned Cheviot field was terminated.

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Brent Oil Climbed 5% This Week

June 21, 2019

Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output. Brent crude was up $0.69…

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SubseaPartner Tallies FPSO Work in the UK

June 20, 2019

Norwegian diving contractor SubseaPartner announced it has secured a contract from floating production, storage and offloading unit owner and operator Teekay Offshore for dive work offshore the UK. The contract includes ongoing subsea work on the FPSOs Petrojarl Foinaven and Hummingbird.

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Addax Signs FPSO Charter with Yinson

June 19, 2019

Malaysia's  Yinson Holdings has secured a four-year extension of its floating production storage and offloading (FPSO) charter contract worth $137.5 million with Sinopec subsidiary Addax Petroleum. Yinson said in a stock exchange annoucement…

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Hurricane Sells First Cargo from Lancaster

June 18, 2019

UK based oil and gas company Hurricane Energy said it has sold its first cargo lifted from the Aoka Mizu floating production, storage and offloading unit (FPSO) at its Lancaster field offshore Scotland. The cargo was marketed by BP Oil International…

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Brazil Postpones Santos Basin Bid Round

June 13, 2019

Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP.

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