Stories

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Oil Spill from Espadarte Field FPSO

January 8, 2019

Brazilian state-run oil firm Petróleo Brasileiro S.A. announced there was an oil spill on January 2 from its chartered floating production storage and offloading unit (FPSO) Cidade de Rio de Janeiro, in the Espadarte field offshore Brazil. Petrobras…

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Petrobras Selling $803 Mln in Local Debt

January 8, 2019

Petroleo Brasileiro SA is selling up to three series of local unsecured bonds to raise 3 billion reais ($803 million), the Brazilian state-run oil firm said in a securities filing on Tuesday. The debt will mature in 7 to 10 years, depending on the series…

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SeaRose FPSO Production Remains On Hold

January 7, 2019

Oil production continues to be suspended at the SeaRose FPSO, about 350 kilometres east of St. John’s for the last 50 days. There’s no information on when production will resume. Production was suspended and shutdown began on November 16 after two spills -  an estimated 250…

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BW Gets Extension for Polvo FPSO

January 4, 2019

BW Offshore announced Firday it has secured another one-year extension for the lease and operation of the floating production storage and offloading vessel (FPSO) Polvo in the Campos basin offshore Brazil. The agreement signed with PetroRio extends the firm period from Q3 2019 to Q3 2020…

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A 'Chicago Boy' Takes the Reins at Petrobras

January 4, 2019

Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone. Tapped by far-right President Jair Bolsonaro, who took power on Tuesday…

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Samsung Heavy Achieves First Oil on Egina FPSO

January 3, 2019

Samsung Heavy Industries Nigeria Limited (SHIN) has  successful achieved the first oil on the 200,000 barrels per day-capacity Egina Floating Production Storage Offloading (FPSO) unit. Egina is the world’s largest floating production storage and offloading (FPSO) unit.

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More Resources Uncovered in Goliat Field

January 3, 2019

Newcomer Vår Energi AS revealed Thursday that an appraisal well has uncovered more resources in the Goliat field off Norway. Vår Energi, together with license partner Equinor, drilled the 7122/7-7 S Goliat West appraisal well in PL 229 in the Barents Sea.

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Energean Signs New Gas Sales Deal for Karish and Tanin FPSO

January 2, 2019

UK-based oil and gas exploration and production company Energean Oil & Gas  has signed a Gas Sales and Purchase Agreement (GSPA) with I.P.M. Beer Tuvia Ltd. (IPM) to supply an estimated 5.5 BCM of gas from its Karish and Tanin FPSO over a period of 19 years.

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Total Starts Production at Egina Oilfield

January 2, 2019

Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria's coast, part of a shift by the French energy firm towards deepwater oil and gas projects to its drive cashflow. Output from Egina, which is located in waters about 1…

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Ophir Awaiting Fortuna Block Extension

December 31, 2018

Ophir Energy said it is still awaiting a response from Equatorial Guinea's Ministry of Mines and Hydrocarbons (MMH) with regards to its request for an extension of the Block R licence, where Africa's first deepwater independent floating liquefied natural gas (FLNG) project is planned.

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Tango FLNG En Route to Argentina

December 27, 2018

Belgium based EXMAR announced Thursday that its floating liquefied natural gas (FLNG) facility has left China for a 45-day voyage to the destination of its liquefaction operations at the Port of Bahia Blanca in Argentina. The barge-based Tango…

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Oil Slips Back Toward 18-month Lows

December 27, 2018

Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices. Brent crude oil dropped $1.67 a barrel, or 3.1 percent, to…

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Africa's FPSO Market Destined for Growth

December 27, 2018

Despite the lingering volatility of global commodity prices, Africa's offshore oil and gas industry has continued to expand, albeit not as fast, opening up more market opportunities for floating production storage and offloading (FPSO) vessel manufacturers and suppliers.

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Oil Surges 8% After Steep Slide

December 26, 2018

Oil surged on Wednesday, posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017. Both U.S. and Brent crude rose about 8 percent, their largest one-day increase since Nov.

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Prelude FLNG Starts Production in Australia

December 26, 2018

Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.

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Ghana Exploration Licensing Round Attracts Global Majors

December 24, 2018

Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country's first exploration licensing round, its energy ministry said. The interest is a major vote of confidence in Ghana…

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BP Green-lights Greater Tortue Ahmeyim Project

December 21, 2018

BP and its partners announced on Friday that the green light has been given for the first phase of the Greater Tortue Ahmeyim project off the coast of Mauritania and Senegal. The cross-border development, a first for the two West African nations and Africa's deepest offshore project at 2…

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Vår Energi Awards Jotun FPSO FEED to Aker Solutions

December 21, 2018

The newly formed exploration and production (E&P) company Vår Energi  is progressing the redevelopment of the Balder and Ringhorne area offshore Norway and a FEED contract for the Jotun FPSO life extension has now been signed with Aker Solutions.

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US Crude Inventory Drops for Third Week

December 20, 2018

U.S. crude inventory declined again last week. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates an inventory fall of 0.5 million barrels in the week ended December 14. While only a small drop, it is the third decline in a row. While EIA data include only U.S.

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Ocean Installer Clinches Johan Castberg Deal

December 18, 2018

Norwegian subsea contractor Ocean Installer and Norwegian multinational energy company Equinor ASA have signed a contract that covers the FPSO mooring installation, tow out and hook-up of the Johan Castberg FPSO in the Barents Sea. Johan Castberg…

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Lithuania Plans to Buy an FSRU

December 18, 2018

Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas. Klaipedos Nafta is currently…

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