Stories

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Premier Oil Files FPSO Removal Plan for North Sea Field

February 7, 2020

The UK oil and gas operator Premier Oil has field decommissioning plans for the departure of the Voyageur Spirit FPSO and the removal of the riser system from the Huntington offshore oil field in the North Sea. The Huntington Field is located in block 22/14b of the Central North Sea…

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Hurricane Energy Won't Tie Lincoln Well to Aoka Mizu FPSO in 2020

February 6, 2020

UK North Sea focused Hurrican Energy saw its share price drop on Thursday morning after the company's scrapped plans to tie-back the Lincoln Crestal offshore well to the Aoka Mizu FPSO this summer. The company h ad drilled the Lincoln Crestal…

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Petrobras Charters AET Shuttle Tanker Trio for $525.6M

February 6, 2020

Tanker operator AET has won a long-term deal with the Brazilian oil company Petrobras for the charter of three shuttle tankers that will offload oil from Petrobras' offshore oil platforms and FPSOs. AET said Thursday the long-term charters would…

Floating Production Systems Report And Online Database

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Energean Braces for Coronavirus Impact on FPSO Delivery

February 6, 2020

The Mediterranean-focused oil and gas company Energean might see further delay with the delivery of its FPSO hull from China on the back of the Coronavirus outbreak in the country. Just last week, Energean said that the delivery of the hull…

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ICE Wins AIP for FPSO Hull Design

February 6, 2020

European naval architecture and marine engineering consultant International Contract Engineering (ICE) group was awarded an Approval in Principle (AIP) by the American Bureau of Shipping (ABS) for its latest generic floating production storage and offloading (FPSO) hull design…

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Tullow to Axe a Third of Its Workforce

February 5, 2020

Tullow Oil plans to cut a third of its staff to slash its administration costs by a fifth, or around $20 million, a source with direct knowledge of the matter said, after weak output in Ghana, delays in East Africa and lower-than-hoped-for oil quality in Guyana.

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Aibel Clinches Bacalhau FPSO Award

February 5, 2020

Japanese FPSO specialist MODEC has awarded Aibel a Letter of Intent for an engineering services front end engineering and design (FEED) in relation to the recently awarded Bacalhau FPSO contract by Equinor. Bacalhau FPSO will be the largest…

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Exxon: 2nd Lift of Guyanese Crude Underway

February 4, 2020

Exxon Mobil's second lift of Guyanese crude from the offshore Liza Destiny platform is underway and has been sold on the open market, the company said on Monday. The U.S. oil major, in a consortium with Hess Corp and China's CNOOC Ltd, has discovered…

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First Oil Flows from BP's Alligin Field West of Shetland

February 4, 2020

First oil has started flowing from the BP-operated Alligin field in the  West of Shetland region, offshore UK. Alligin is a part of the Greater Schiehallion Area and has been developed as a two-well subsea tie-back into the existing Schiehallion…

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PetroRio to Acquire OSX-3 FPSO for $140M

February 4, 2020

Brazilian oil company PetroRio has agreed to buy the OSX-3 FPSO for $140 million, and acquire an 80 percent stake in the Dommo Energia's Tubarao Martelo field off Brazil where the FPSO is currently deployed. The OSX-3 FPSO was built and delivered to the Tubarão Martelo Field in 2012.

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Exxon's Guyana Oil Deal in Focus Ahead of Election

February 3, 2020

A report by a nonprofit watchdog group critical of Exxon Mobil Corp's oil contract with Guyana has rekindled a debate over whether the deal is too generous to the company, just a month before a crucial presidential election. In a report published Monday…

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FPSO P-70 'Stable' After Storm Pushes it Near Coast

February 3, 2020

Brazilian oil company Petrobras said Friday that the recently delivered FPSO P-70 was stable after a storm that hit Rio de Janeiro last Thursday pushed the FPSO near a beach in Niteroi. "Due to the storm that hit the metropolitan region of Rio de Janeiro on Thursday night (01/30)…

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Veolia's Seawater System for MODEC FPSO

January 31, 2020

Japanese FPSO giant MODEC has ordered a seawater treatment package for the FPSO Almirante Barroso from Veolia Water Technologies. Under the contract, Veolia will be responsible for the design and procurement of equipment with construction for a seawater treatment plant sized for 280…

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First Gas from Karish FPSO in 1H 2021 as Hull Works Take Longer than Expected

January 31, 2020

Greek oil company Energean has said that its Karish development in the Mediterranean Sea off Israel is on track for first production in the first half of 2021. Energean has previously said that the first gas is expected to start flowing in the first quarter of 2021…

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Japanese Quartet Moves Ahead with Marlim FPSO

January 31, 2020

Japanese companies MODEC, Mitsui, MOL, and Marubeni will jointly invest in the Petrobras-bound Marlim FPSO. MODEC in October 2019 received a letter of intent from Petrobras for the supply, charter, and operations of the Marlim-1 FPSO. Now Mitsui…

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FPSO Orders Continue Climb

January 30, 2020

The swollen number of orders felt in 2019 for floating production, storage and offloading vessels (FPSO) was, it turns out, well above the average number of yearly go-aheads seen in over the past 10 years, a new floater report says. Oil prices…

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Equinor taps Modec for Brazil's Largest FPSO

January 30, 2020

Japan's Modec has won an order from Equinor to supply an FPSO for the Norwegian firm's  Bacalhau (formerly Carcará) field offshore Brazil. According to Equinor and Modec, this will be the largest FPSO in Brazil. "This contract is based on a two-step award.

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Hurricane Energy: Lancaster Output Above Expectations

January 29, 2020

UK-focused oil company Hurricane Energy has said that its Lancaster oil field production has exceeded expectations. The North Sea field started producing oil via the Aoka Mizu FPSO in June 2019. In an operational update on Wednesday, Hurricane said that the field had produced 15…

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BW Offshore Shaves Off BW Energy IPO Valuation

January 29, 2020

BW Offshore has slightly reduced the valuation of its planned oil and gas spin-off, the Oslo-listed company said as it presented details for the initial public offering on Wednesday. The valuation of BW Energy was shaved to a range of between $700 million and $750 million…

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Bumi Armada Might Appeal Woodside FPSO Case Ruling

January 28, 2020

Malaysian FPSO supplier Bumi Armada might appeal a recent ruling by an Australia court in an FPSO contract termination case against the Australian oil company Woodside. Woodside in 2016 terminated the contract for the Armada Claire FPSO unit that was operating at the Balnaves Field…

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ExxonMobil Gives Boost to Guyana Oil Reserves. Makes Another Discovery

January 27, 2020

ExxonMobil has struck another oil discovery offshore Guyana and has raised its estimate for recoverable resource base in Guyana to more than 8 billion barrels of oil equivalent. This is a 2 billion barrel increase compared to the previous estimate.

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