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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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Report: SBM Offshore Only Bidder for Petrobras' Mero 4 FPSO

February 24, 2021

Brazil's state-controlled  oil  company Petrobras received only one proposal, from Dutch SBM Offshore, in a bid to contract construction of the Mero 4  oil  platform [FPSO] in the Santos Basin pre-salt, two sources with knowledge of the matter told Reuters.

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Bumi Armada Amends Loan Maturity Date. Cites Coronavirus Impact

February 23, 2021

Malaysian FPSO specialist Bumi Armada has amended the maturity of a portion of the $660 loan from 2019, citing the impact of the coronavirus pandemic on its business. Bumi Armada said the loan agreement has been amended on to extend the final…

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.
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Enauta Resumes Output from Atlanta Field after Corrosion-Induced Halt

February 22, 2021

Brazilian oil and gas company Enauta has resumed production from its Atlanta offshore oil field, in the Santos Basin, in Brazil. Enauta, previously known as Quireoz Galvao, had in November 2020 announced the "preventive suspension" of Atlanta field’s production…

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UK: Tailwind Sanctions Evelyn Development

February 22, 2021

UK-focused oil company Tailwind has reached a final investment decision (FID) on its Evelyn field project in the North sea, following approval by the UK oil and gas regulator OGA last week. The Evelyn field is part of the Triton Cluster. Tailwind…

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Petronas' Floating LNG Facility PFLNG Dua Produces First LNG

February 15, 2021

Malaysian oil and gas giant Petronas said Monday that its PFLNG Dua floating LNG facility has recently produced its first LNG. This is the company's second FLNG Unit, and its first deepwater FLNG facility. The PFLNG Dua is located at the Rotan gas field, 140km off Kota Kinabalu, Sabah, Malaysia.

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FPSO Firm BW Offshore Eyes Entry into Floating Offshore Wind

February 12, 2021

BW Offshore, a company known for its FPSO leasing business in the oil and gas sector, is looking to diversify by entering the floating offshore wind space and has started talks with floating wind firm Ideol over a potential investment. The move…

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Palfinger to Deliver Lifeboats, Cranes for Anna Nery FPSO

February 12, 2021

Palfinger has won an order to deliver cranes, lifeboats, a rescue boat, and davits for Malaysia-based Yinson's Anna Nery FPSO, which will, once complete be deployed at Petrobras' Marlim 2 field offshore Brazil. Under the order, Palfinger will…

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ABS Approves HHI's Design for Mexico-targeted FSO

February 11, 2021

Maritime and offshore classification society American Bureau of Shipping (ABS) has granted Approval in Principle (AiP) to South Korea's Hyundai Heavy Industries’design for a Floating Storage and Offloading (FSO) vessel that is planned for operations in Mexican waters.

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SBM Offshore Expects Lower 2021 Earnings as Clients Cut Spending

February 11, 2021

SBM Offshore forecast that 2021 core earnings will be slightly below market expectations, the multinational oil firm said on Thursday, noting 2020 challenges will spill into 2021 as many of its clients had to cut budgets. The Dutch company, which supplies floating oil and gas production vessels…

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Höegh LNG Nets LNG Carrier Charters with Trafigura, Cheniere

February 9, 2021

Oslo-listed LNG tanker operator Höegh LNG has reached an agreement with Trafigura for an extension of a charter for LNG carrier Hoegh Gannet. It also signed a new interim time charter for Höegh Gallant vessel with the same company. The existing…

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Brazil: Petrobras, PetroRio Complete Frade Field Transaction

February 8, 2021

Brazilian oil giant Petrobras has sold its 30 percent stake in the Frade offshore oil field to PetroRio. With the completion of the transaction, PetroRio now fully owns the field, located in the Campos Basin, north coast of the state of Rio de Janeiro.

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Woodside Issued Enforcement Action over Nganhurra RTM Decommissioning

February 5, 2021

Australian offshore oil and gas regulator NOPSEMA on Friday said it was taking compliance action against oil firm Woodside Energy Ltd to ensure safe and responsible decommissioning of the Nganhurra riser turret mooring. The regulator said it was looking at possible breaches of law, as well.

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Bluewater Taps Royston for FPSO Engine Overhaul

February 4, 2021

FPSO operator Bluewater Services signed a framework agreement with marine engineering and maintenance firm Royston for engine overhaul, repair, and associated services on two of its FPSOs. U nder the agreement, Royston will carry out planned…

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Report: Keppel Submits Lowest Bid to Build FPSO for Petrobras' Buzios Field

February 4, 2021

A consortium led by Singapore-based Keppel Shipyard Limited offered Brazil's Petrobras the lowest price to build a floating platform for Buzios, Latin America's second-largest oil field, three people close to the competition said. Keppel offered to build P-78…

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TMC to Deliver Air Compressors for Equinor's Bacalhau FPSO

February 3, 2021

TMC has won a contract to supply  the marine compressed air system to the Bacalhau FPSO that Japan's MODEC is building for Equinor. The deal is one of TMC's biggest ever orders. TMC will supply the FPSO’s complete compressed air system consisting of several large offshore screw compressors…

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Petrobras Receives Three Offers in FPSOs Tender

February 2, 2021

Brazilian state-run oil company Petrobras received offers from three consortia looking to build the company's first in-house platforms in more than seven years, the company said on Tuesday. In a release, Petroleo Brasileiro SA, as the company is formally known…

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Three60 Energy to Provide Duty Holder Services for FPSO Intrepid

February 2, 2021

Three60 Energy, a UK-based energy services company, will be providing Duty Holder O&M services to the FPSO Intrepid, currently producing from the Galoc Field, located offshore Palawan Island in the Philippines, in what this the company first such contract outside of the UK.

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Oil Market On Track to Rebalance Around Mid-2021

January 29, 2021

U.S. petroleum inventories have continued to converge down towards the five-year average, a sign that oil market rebalancing remains on track, despite the resurgence of the coronavirus since the end of 2020. Total stocks of crude oil and products…

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Petrobras Strikes Oil at Urissanê Well, Off Brazil

January 29, 2021

Brazilian oil firm Petrobras has said it has identified the presence of hydrocarbons in the wildcat well in the block C-M-411, in the pre-salt region in the Campos Basin, off Brazil. The well 1-BRSA-1377-RJS, informally known as Urissanê, is located approximately 200 km from the coast…

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Transborders' 'Stranded Gas' FLNG Moves Step Closer to Reality with Multi-Party Deals Signed

January 28, 2021

Transborders Energy, an Australian company working to develop a 1.5 mpta FLNG solution for marginal field development, on Wednesday said it had signed a multi-party and multi-project FLNG Solution Agreement with multiple contractors, bringing the FLNG unit closer to reality.

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