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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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Flare Structure Installed on Energean Power FPSO

April 6, 2021

Construction of the Energean Power FPSO, destined for Energean's Karish field off Israel, has recently reached what has been described as a "major milestone" with the installation of the flare on the FPSO in a Singapore shipyard. Technip Energies…

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Petrobras Suspends MODEC from Bidding for FPSO Projects

April 5, 2021

Brazilian national oil and gas company Petrobras has suspended Japanese FPSO specialist MODEC from bidding for new floating production storage and offloading vessel projects. The Japanese firm has also named a new CEO. MODEC, which sees Brazil as its main market…

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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Floating Production Systems Market Bounces Back on Recovering Oil Prices

April 2, 2021

Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports. McCaul bases his assessment on data in a new floating…

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CNOOC to Start Production from Lingshui 17-2 Offshore Field in H1 2021

March 26, 2021

China’s offshore oil and gas major CNOOC Ltd is expected to start production at Lingshui 17-2, a large deepwater natural gas deposit in South China Sea, in the first half of 2021, the company executive said on Thursday. Lingshui 17-2 is CNOOC’s first fully-owned deepwater gas project…

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Santos, BW Offshore Sign $4,6B Barossa FPSO Deal

March 24, 2021

Australian oil and gas company Santos has signed a contract with FPSO supplier BW Offshore for the delivery of an FPSO for the Barossa gas field, located 300 kilometers offshore Darwin in Australia. The contract is subject to Final Investment Decision (FID) by Santos and its partners…

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Anita Garibaldi FPSO to Feature TMC Compressors

March 18, 2021

Norway-based TMC Compressors has been awarded a contract to deliver a large marine compressed air system for the Brazil-bound FPSO Anita Garibaldi. The FPSO - to be delivered by Japan's MODEC in 2022- will be deployed at Petrobras' Marlim field in the Campos Basin.

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MODEC Orders Palfinger Cranes for Sangomar FPSO

March 16, 2021

Japanese FPSO company MODEC has ordered Palfinger cranes for an FPSO it is building for deployment at Woodside's Sangomar  development offshore Senegal. Palfinger said Tuesday it would deliver two wire luffing lattice boom cranes for the FPSO.

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Vår Energi Gets Nod to Use Marulk Field Subsea Infrastructure Until 2030 End

March 15, 2021

Norwegian oil and gas company Vår Energi has received regulatory approval to use the subsea facilities on the Marulk field in the Norwegian Sea beyond their original operating life. Vår Energi had consent for the operation of the Marulk field until December 31, 2021.

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FAR to Sell Senegal Oil Field Stake to Woodside, as Lukoil, Remus Offers Incomplete

March 12, 2021

Australian oil and gas company FAR said Friday it would sell its stake in offshore blocks in Senegal to Woodside, subject to the approval of its shareholders, as proposed company takeover offers made by Remus and Lukoil were incomplete. To remind…

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Oil Surges After OPEC+ Extends Cuts

March 5, 2021

Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April. Brent futures rose $2.10, or 3.2%, to $68.84 a barrel by 11:25 a.m. EST (1625 GMT).

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Falkand Islands Gov't Gives More Time to Sea Lion Field Partners

March 5, 2021

The Falkland Islands government has agreed to extend the terms of several offshore oil and gas licenses, including the one containing the undeveloped Sea Lion field, oil and gas company Rockhopper has informed. To remind, Premier Oil, the operator of the Sea Lion development…

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PetroRio Buys Stake in Brazil Offshore Oil Field from Total

March 5, 2021

Brazilian oil and gas company PetroRio on Thursday said it had agreed to buy from Total a 28.6% stake in the Wahoo field, offshore Brazil. The field is located in the BM-C-30 Block, and the acquisition from Total, together with the interest in Wahoo PetroRio agreed to buy from BP…

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Offshore Oil and Gas project Commitments to Hit New Records, Rystad Says

March 4, 2021

Offshore oil and gas project commitments are expected to not only recover going forward, but their number is also set to reach a new record in the five-year period towards 2025 - cumulatively almost 600 projects - Rystad Energy, a Norwegian…

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Guyana: No Oil at Exxon's First Well in Canje Block

March 4, 2021

U.S. oil major ExxonMobil has failed to find commercial quantities of oil at the Bulletwood-1 offshore well in the Canje Block, offshore Guyana. The well, spudded on December 30, 2020, was drilled using the Stena Carron drillship and was the first well drilled in the 4…

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Fifth Petrobras Director to Follow CEO Out

March 4, 2021

A fifth board member at Brazil's Petrobras will step down, the company said as of Wednesday, and the state-run oil producer's shares tumbled more than 3% as management turmoil showed no signs of abating. A day earlier, four other board members stepped down at Petroleo Brasileiro SA…

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Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery

March 2, 2021

Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executive of Saudi Aramco told an oil and gas conference on Tuesday. Global demand for oil is likely to recover from the second half of the year…

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SOFEC Delivers Goods for FPSO Miamte MV34

March 2, 2021

Mooring systems provider SOFEC has informed that it has delivered the Upper Tower and Mooring Support & Yoke Structures for MODEC’s FPSO Miamte MV34 which will be deployed for Eni in Mexico. SOFEC was awarded a contract by MODEC in October 2018…

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ExxonMobil Announces Two Board Appointments

March 1, 2021

U.S.-based oil major ExxonMobil said on Monday activist investor Jeffrey Ubben and Michael Angelakis have joined its board. Angelakis is chairman and CEO of independent strategic investment company Atairos. Prior to founding Atairos, he served…

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Petrobras, SBM Offshore Sign LoI for Giant Búzios Field FPSO

February 25, 2021

Brazilian oil giant Petrobras has signed a letter of intent with Dutch FPSO supplier SBM Offshore for the delivery of an FPSO to be deployed in the Búzios field in the Santos Basin, offshore Brazil. SBM Offshore will be responsible for the engineering…

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OPEC+ to Weigh Modest Output Boost, Sources Say

February 24, 2021

PEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic. The…

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