Stories

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High Hopes for Campos Basin

November 28, 2018

Although much of the hype surrounding the Brazilian oil and gas market is directed toward the Santos Basin pre-salt, recent and older pre-salt discoveries in existing areas and on recently-awarded blocks within Campos Basin offer significant…

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First Steel Cut for Karish and Tanin FPSO

November 27, 2018

Energean Oil and Gas announced that first steel was cut on the Karish and Tanin floating production storage and offloading (FPSO) vessel at the COSCO yard in Zhoushan, China, on Monday. The FPSO is scheduled to be delivered to the Karish field offshore Israel in late 2020…

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Addax Petroleum Extends Yinson’s Adoon FPSO Deal

November 25, 2018

Nigeria-focused oil company Addax has extended the charter for the Yinson-owned FPSO Adoon for another three months, pending discussion for a potential longer-term deal. "Unless otherwise expressly defined in this announcement, terms and expressions…

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Incoming Petrobras CEO: No Decision Yet on Future Pre-salt Auctions

November 23, 2018

No decision has yet been taken on the types of contract to be offered in Brazil's pre-salt deep water oil auctions, the incoming head of Petroleo Brasileiro SA said on Thursday, adding that fuel price policy is still being discussed. (Reporting by Mateus Maia Editing by Marguerita Choy)

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Big Oil Digs North Sea's 'Final Frontier'

November 23, 2018

"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea. That same rock is today the heart of BP's prized Clair field in the West of Shetland region…

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Total to Raise Output in 2019

November 23, 2018

Oil major Total's output will rise to 3 million barrels of oil equivalent per day in 2019, Chief Executive Patrick Pouyanne said on Friday. The company has said its production rate stood at 2.8 million barrels of oil equivalent per day during the third quarter of this year.

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SBM Orders Second Fast4Ward FPSO Hull

November 21, 2018

SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS). The order…

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Argentina to Export First LNG in 2019

November 21, 2018

Argentina is due to begin exports of liquefied natural gas from a part of its vast Vaca Muerta shale gas resource next year through a floating LNG liquefaction (FLNG) vessel provided by Exmar, the Belgian shipping company said on Wednesday.

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Johan Castberg Topside Construction Begins

November 21, 2018

Norwegian minister of petroleum and energy Kjell-Børge Freiberg cut the first sheet for the topside of the Johan Castberg floating production, storage and offloading unit (FPSO) at Kværner's yard at Stord on Wednesday as part of a large scale  project triggering ripple effects throughout Norway.

Atlantic Canada Oil Spill Caused by Weak Flowline Connection

November 20, 2018

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday. The spill is the largest-ever off the coast of the Canadian province…

Petrobras Units Could be Sold Under New CEO

November 19, 2018

Brazil's right-wing President-elect Jair Bolsonaro said on Monday that certain units of Petroleo Brasileiro could be privatized, even though the state-run company is strategic for the state. Speaking to reporters after his team named Chicago…

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Bangladesh Resolves FSRU Issues

November 19, 2018

Bangladesh will resume liquefied natural gas (LNG) imports this week after resolving issues with its sole floating storage and regasification (FSRU) unit, a senior official said on Monday. Two cargoes, meant to be delivered on Nov. 7 and Nov.

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Castello Branco Named Petrobras CEO

November 19, 2018

Brazil's incoming far-right government on Monday tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company's assets.

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Largest Chinese-built FSRU Delivered

November 16, 2018

PaxOcean’s Zhoushan Shipyard has delivered a 26,000m3 floating storage and regasification unit (FSRU) Karunia Dewata to Indonesia-based Jaya Samudra Karunia (JSK). The FSRU is the largest to be built in China and will be capable of regasifying around 50 million standard cubic feet per day.

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FPSO Market to Turn Around: Rystad Energy

November 15, 2018

The global floating production storage and offloading (FPSO) has stirred back to life after enduring a couple years in virtual hibernation during the downturn, said Rystad Energy research. With six new FPSO orders worldwide 2017 brought some…

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SBM Offshore: $45 Mln in Extra Impairments in Q3

November 15, 2018

SBM Offshore, the Netherlands-based maker of floating oil and gas production facilities, on Thursday said it expected $45 million in impairments in Brazil and the United States. In Brazil, SBM Offshore has decided to temporarily close the Brasa…

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Angola Battles to Revive Oil Exploration

November 15, 2018

On Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again.

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Aoka Mizu FPSO Needs Extra Repairs

November 13, 2018

The floating production storage and offloading (FPSO) unit Aoka Mizu's planned stop in Algeciras, Spain will be extended for additional repair work, said U.K. based Hurricane Energy. The FPSO, which will be used at Hurricane's Early Production…

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KrisEnergy Begins Latest Thai Drilling Program

November 12, 2018

Southeast Asia focused upstream oil and gas company KrisEnergy announced on Monday that the Mist jack-up rig has begun drilling the Montha-1 exploration well in the G10/48 contract area in the Gulf of Thailand. The well, located approximately…

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Total Launches $16 Bln Project Offshore Angola

November 12, 2018

Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16 billion in the Atlantic approximately 260 kilometers from the capital Luanda. The Angolan State Minister for Economic and Social Development…

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Petrobras Starts Production at P-75 Platform

November 12, 2018

The P-75 floating production, storage, and offloading unit (FPSO) has begun producing oil and natural gas in the Búzios 2 area of the pre-salt Santos Basin, Brazil's state-run Petroleo Brasileiro SA (Petrobras) said. With a daily capacity to process up to 150…

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