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Hoegh Backs Out of Chile LNG Project but Buoyant on Market

August 23, 2018

Hoegh LNG said on Thursday it had let agreements lapse in Chile that tied one of its floating liquefied natural gas (LNG) import vessels to a project there because approvals for the initiative were likely to be delayed again. The Norwegian company…

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Saipem Wins $700 Mln Worth of Offshore Contracts

August 22, 2018

Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana. These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, as the project operator…

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Hoegh LNG to Supply FLNG Terminal to Australian Import Project

August 20, 2018

Norway's Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia's east coast from 2020 in a push to boost local supply. Australian Industrial Energy, a consortium that includes Japan's JERA and Marubeni Corp…

Floating Production Systems Report And Online Database

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Bangladesh's First FSRU Starts Operations

August 20, 2018

Bangladesh started operations at the country's first liquefied natural gas (LNG) terminal on Saturday after ironing out teething issues related to technical problems and bad weather, two sources familiar with the matter told Reuters on Monday.

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Shipbuilding: Oman Drydock CEO Aims to Triple Revenue by 2021

August 16, 2018

Said bin Homoud Al Maawali, CEO, Oman Drydock Company (ODC) means business when he aims to triple revenue at the shipyard by 2021, but it’s anything but business-as-usual at ODC. A neophyte to the shipyard world, he is a veteran business man with a long resume in multiple industries…

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Aker Solutions to Supply Umbilicals for Liuhua FPSO

August 15, 2018

Aker Solutions said it has been contracted to deliver power umbilical systems to China National Offshore Oil Corporation's (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong. The order, which is said to be worth more than NOK 350 million ($36.6 million)…

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Woodside Petroleum Half-year Profit Rises

August 15, 2018

Australia's Woodside Petroleum Ltd said on Wednesday that its first-half net profit rose 6 percent and it raised its 2018 production outlook after strong performances from its Wheatstone and Pluto LNG projects. For the 2018 fiscal year, Woodside…

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Global FPSO Market to Exceed USD 115 bln by 2024.

August 13, 2018

Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth. Increase in the conversion…

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Ampelmann Six New North Sea Contracts

August 13, 2018

Offshore access solutions provider Ampelmann said it has strengthened its position in the North Sea this year after being awarded four new contracts and two extended scopes of work in the basin. The projects will see six E-type gangway systems…

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Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations

August 10, 2018

A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them. The U.S.

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De-risking the FPSO Renaissance

August 9, 2018

Floating production, storage and offloading vessels (FPSOs) are in the ascendancy. The total FPSO market is now expected to grow to over $117 billion by 2024. A combination of factors, such as the recovered oil price and renewed interest in deeper…

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Aqualis Offshore to Position Egina FPSO

August 8, 2018

Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria. EPCIC contractor for the $3.3 billion FPSO, Samsung Heavy Industries…

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Kosmos Energy Acquired DGE for $1.23 Bln

August 6, 2018

Kosmos Energy has agreed to acquire Deep Gulf Energy (DGE) from its private equity owner for $1.23 billion, according to a bourse filing on Monday, expanding the deepwater oil and gas firm's operations into the Gulf of Mexico. Dallas-based Kosmos…

Petrobras Prepays $975 Mln Worth of Bank Debt

August 6, 2018

Brazilian Petróleo Brasileiro SA has settled three bank loans worth a total of $975 million that were due 2022, the state-controlled oil company said in a securities filing on Monday. Petrobras, as the company is known, paid $325 million to Bank of America Corp…

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Höegh LNG Secures Debt Financing for 9th FSRU

August 4, 2018

Norway's floating storage and regasification unit (FSRU) giant Höegh LNG said it has secured a USD 177 million debt financing for its FSRU delivery unit number 9. The FSRU is scheduled to be delivered in the fourth quarter of 2018. The facility…

Croatia Extends LNG Terminal Gas Bidding Deadline

August 3, 2018

A deadline for bids on output from a planned offshore liquefied natural gas (LNG) terminal to be built on Croatia's northern Adriatic island of Krk has been extended until Sept. 28, developers LNG Croatia said on Friday. Demand will dictate the capacity of the 250 million euro terminal…

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DNV GL Secures Shell Penguins Contract

August 2, 2018

DNV GL has won a cross-service contract to support Shell's Penguins Field redevelopment on the UK Continental Shelf. The contract with Shell involves a team which will deliver an integrated verification and class project for the operator's Penguins…

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Bad Weather Stalls Bangladesh FSRU Hook Up

August 2, 2018

A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.

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Petronas Appoints Ahmad Nizam Salleh as New Chairman

August 1, 2018

Malaysia has appointed Ahmad Nizam Salleh as the new chairman of state-owned oil company Petroliam Nasional Bhd effective immediately, according to a statement from the prime minister's office on Wednesday. Ahmad Nizam has worked in the oil…

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Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040

July 31, 2018

Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday. The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator…

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Aker BP Adds More Acreage off Norway

July 31, 2018

Norway's independent oil firm Aker BP has agreed to buy stakes in 11 production licenses off Norway from French Total for a cash consideration of $205 million, the company said on Tuesday. The portfolio includes four discoveries with net recoverable…

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