Stories

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SBM Offshore Completes FPSO Liza Financing

December 20, 2017

SBM Offshore said it has secured the $720 million project financing for FPSO Liza through a consortium of 12 international banks, completed on December 19, 2017. SBM Offshore said it expects to draw the loan in full, phased over the construction period of the FPSO.

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Petrojarl I Sails for Brazil Following Upgrades

December 18, 2017

Teekay’s long standing 31-year-old floating production, storage and offloading (FPSO) unit Petrojarl I has sailed-away en route to the Atlanta Field off Brazil following upgrades at the Aibel AS shipyard in Norway. “This has been a challenging…

Exxon, Petrobras Form Alliance to Develop Oil, Gas Projects

December 14, 2017

Exxon Mobil Corp and Petróleo Brasileiro SA, Brazil's state-controlled oil producer also known as Petrobras, said on Thursday they had formed an alliance to develop energy projects around the world. The deal, which was signed in Rio de Janeiro…

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Trelleborg Solutions for FLNG Ship-to-Shore System

December 13, 2017

Trelleborg has hailed the recent test of the Universal Transfer System (UTS) conducted with Connect LNG and Gas Natural Fenosa, as tangible evidence of the new applications that its suite of products for jettyless LNG transfer can unlock in this challenging field.

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Eni plans to restart Norway's Goliat Oilfield

December 8, 2017

Italian oil firm Eni said on Friday it planned to restart production at its Goliat oilfield in the Arctic Barents Sea within a few days. The Norwegian Petroleum Safety Authority (PSA) said earlier on Friday the company could bring back on stream the 100…

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Former Chief of Daewoo Shipbuilding Gets 6 Years in Jail

December 8, 2017

Former Daewoo Shipbuilding & Marine Engineering (DSME) boss Nam Sang-tae sentenced to six years in prison by Korean court for embezzlement and bribery, Yonhap reported. The report said that the Seoul Central District Court handed down the guilty verdict to Nam Sang-tae…

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Aker to Design Johan Castberg FPSO Accommodations

December 7, 2017

Aker Solutions won a contract from Sembcorp Marine to design the living quarters for the Johan Castberg development's floating production, storage and offloading vessel (FPSO). The work scope includes detailed design engineering of the living…

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Roxtec Seals for New North Sea FPSO

December 6, 2017

Cable sealing solutions designed by Roxtec have been used in the construction of Dana Petroleum’s new Western Isles floating, production, storage and offloading (FPSO) vessel, which started production in the U.K. North Sea last month. Roxtec…

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Wison, CCS Partner on China’s FSRU Standards

December 5, 2017

Wison Offshore & Marine announced it will collaborate with China Classification Society (CCS) Wuhan Rules & Research Institute on various fronts of floating liquefied natural gas (FLNG) storage and re-gasification facility (FSRU) developments in China under a strategic cooperation agreement.

Petrobras to Receive about $200 Mln from Corruption Repayments

December 5, 2017

Brazilian state oil company Petroleo Brasileiro SA will receive about 650 million reais ($201 million) in funds recovered from the country's largest-ever corruption investigation, known as Car Wash, the federal prosecutors office for the state of Paraná said on Tuesday.

First Libra Pre-salt Oil Shipment Likely in Early January

December 1, 2017

Petróleo Brasileiro SA is likely to begin shipping oil from the Libra pre-salt area early in January, an executive at the Brazilian state-controlled oil company said on Friday. Operations at Libra kicked off this week with an output of around 17…

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First Oil and Contract Start-up for Libra FPSO

November 30, 2017

Teekay Offshore Partners L.P. announced that its jointly owned floating production storage and offloading (FPSO) unit, the FPSO Pioneiro de Libra (Libra), has achieved first oil and commenced its 12-year charter contract with a group of international oil companies…

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Yinson to Take Over Layang FPSO from THHE

November 30, 2017

Malaysia’s Yinson Energy Sdn Bhd plans to take over the Layang floating production storage and offloading (FPSO) project from TH Heavy Engineering Bhd (THHE) Edge Markets reported. THEE, which has the Layang FPSO contract with Japan’s JX Nippon.

SBM Offshore to Pay $238 Mln in US Bribery Case

November 29, 2017

SBM Offshore NV, a Netherlands-based maker of offshore oil drilling equipment, and its U.S. subsidiary, SBM Offshore USA Inc, agreed to settle criminal charges of bribing officials in five countries and pay a $238 million penalty, the U.S. Justice Department said on Wednesday.

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Statoil Confident Eni Will Resolve Problems at Goliat Field

November 28, 2017

Norway's Statoil said on Tuesday it was confident Eni would resolve problems besetting their joint Arctic Goliat oilfield, as a shutdown there neared its second month. The 100,000 barrels-per-day field - operated by Eni, the senior partner in…

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Wärtsilä’s Ambitious Vision of a Digital Future

November 27, 2017

Digitization sets the new standard for the entire industry, says Wärtsilä on a November 24 press meeting in London. Wärtsilä has announced an ambitious vision to lead the marine industry into a smart technology future by catalyzing innovative…

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First Oil from Brazil's Libra Field Flowing to FPSO

November 27, 2017

First oil has flowed from Brazil's giant Libra field operated by Petrobras and a consortium that includes Total, Shell and China's CNPC and CNOOC, the companies said on Monday. Libra, which has recoverable volumes estimated by oil regulator ANP at between 8 billion and 12 billion barrels…

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Catcher FPSO to Add about $200 mln in EBITDA/year

November 26, 2017

BW Offshore CEO Carl Arnet in FPSO (floating production, storage and offloading) firm BW Offshore Ltd says the Catcher field project in the British North Sea will add about $200 mln in annual EBITDA to its results when it comes on stream in December 2017.

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Total CEO Not Worried over Possible Norway Fund Capital Exit

November 26, 2017

The possible exit of Norway's sovereign wealth fund from the capital of French oil and gas major Total will take place over time and is thus unlikely to hurt Total's stock price, Chief Executive Officer Patrick Pouyanne said on Friday. "I can tell you that…

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Summit Signs Floating LNG Facility Contract

November 22, 2017

Summit LNG Terminal, a subsidiary of Summit Power International, signed a USD 100 Million turnkey contract with marine work contractor consortium comprising of Geocean SAS and MacGregor for design, engineering, procurement, fabrication, installation…

Trafigura to Develop Another Pakistan LNG Import Project

November 20, 2017

Swiss commodity trader Trafigura said it plans to develop its second liquefied natural gas (LNG) import terminal in Pakistan, alongside an existing project in which it has a minority stake. At a inauguration ceremony for Pakistan's second LNG import project…

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