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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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Permanent Deals for Monadelphous' Ichthys Workers

January 24, 2020

Australian unions have negotiated permanent contracts for 70 percent of their members working for Monadelphous aboard Inpex facilities. "The Offshore Alliance and [Electrical Trades Union] negotiated Monadelphous INPEX facilities EBA [ Enterprise…

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Bumi Armada Loses Woodside FPSO Case

January 24, 2020

Malaysian FPSO specialist Bumi Armada's claim against Australia's oil firm Woodside for a 2016 FPSO contract termination has been dismissed in court. Woodside in 2016 terminated the contract for the Armada Claire FPSO unit that was operating at the Balnaves Field…

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Ocean Installer Bags Triton Gig from Dana

January 23, 2020

Aberdeen-based Oil and gas company Dana Petroleum has awarded Norway's Ocean Installer a contract for work at the Triton Area Development, located in the Central North Sea, around 190 km east of Aberdeen. According to a press release, the award…

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FAR Inks Sangomar Oil Offtake Deal with Glencore

January 22, 2020

Australian oil company FAR Ltd. has signed a deal with Glencore, one of the world's largest oil marketers, for the full allocation of Far's share of the future oil production from the Sangomar field offshore Senegal. FAR, which owns a 15% stake in the recently sanctioned…

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BW Energy Completes 2nd Producer at Tortue 2 in Gabon

January 22, 2020

BW Energy has completed the second production well of the Tortue Phase 2 development, offshore Gabon. "The DTM-5H well marks the completion of the first of two new well clusters on the Tortue field which will be tied back to the FPSO BW Adolo and boost oil output," BW Energy said Wednesday.

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Guyana's First-Ever Oil Cargo Sets Sail

January 21, 2020

A vessel carrying Guyana's first-ever shipment of crude set sail on Monday bound for the U.S. Gulf Coast, oil major Exxon Mobil Corp said, marking the tiny South American nation's long-awaited debut as an oil exporter. The Suezmax vessel Yannis P…

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SOFEC to Supply Sangomar FPSO Turret Mooring System

January 20, 2020

SOFEC announced it has been awarded a contract from MODEC to supply an external turret mooring system for a floating production, storage and offloading (FPSO) vessel for the Sangomar project offshore Senegal. SOFEC will be responsible for all engineering…

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Brazil to Overhaul Rules for Subsalt Auctions

January 20, 2020

Brazil's government is considering an overhaul in the rules for auctions of subsalt oilfields, a senior official told newspaper Valor Economico. Special secretary to the Economy Ministry Waldery Rodrigues told the newspaper the government could…

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FAR Secures $300M Sangomar Loan

January 20, 2020

Oil and gas company FAR has secured a $300 million reserve-based loan for its share of the CAPEX for recently sanctioned Sangomar field development, offshore Senegal. “FAR is pleased to announce a binding and committed underwritten US$300 million…

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Exxon to Load First Crude from Guyana This Weekend

January 17, 2020

The first-ever cargo of Guyana's crude for export is scheduled to begin loading this weekend so the oil can be processed at Exxon Mobil's refining system, the company told Reuters on Friday. Exxon has so far made 15 discoveries of oil reserves in Guyana…

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Angola: Eni Brings Agogo Field Online

January 17, 2020

Italian oil company Eni has produced first oil from its Agogo field offshore Angola, nine months after discovery. Eni brought the field online via the FPSO Ngoma located 15 kilometers from the oil field. The current output level is around 10…

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Suncor Ordered to Install Fall Protection Systems on FPSO

January 16, 2020

The Canadian offshore safety regulator for Newfoundland and Labrador C-NLOPB has ordered oil company Suncor to install fall-protection systems on ladders aboard its Terra Nova FPSO. The order comes two weeks after a worker aboard Suncor's Terra…

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Woodside Signals Higher Output in 2020

January 16, 2020

Australia's Woodside Petroleum posted a nearly 7% rise in fourth-quarter production on Thursday and forecast higher output for fiscal 2020, as it steps up work on growth projects in a bid to triple its oil and gas reserves over a decade. The…

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Yinson: 8th Extension for Lam Son FPSO

January 16, 2020

Malaysian FPSO leasing specialist Yinson has signed another short-term charter extension for the Lam Son FPSO offshore Vietnam. Yinson's Vietnam JV PTSC AP on Wednesday, January 15, entered into an eighth FPSO contract extension for the FPSO with PTSC…

Petrobras Exits Africa As Nigeria-Focused Business Sold for $1.5B

January 15, 2020

Brazilian oil company Petrobras has sold its Nigeria-focused subsidiary for around $1,5 billion. Petrobras said Wednesday it had completed the sale of its 50% equity interest held in Petrobras Oil & Gas B.V. (PO&GBV). PO&GBV has assets in Nigeria…

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BW Energy Oslo Listing Set For 1Q 2020

January 15, 2020

BW Offshore's exploration and production subsidiary BW Energy is gearing up for an initial public offering of shares in the first quarter of 2020, and listing on the Oslo exchange an independent company. BW Energy was established by the FPSO…

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Modec Eyes Major Brazil Contracts

January 14, 2020

Japanese floating equipment maker Modec Inc is looking to win one or two major platform contracts per year in Brazil as it aims to grow in the country's offshore oil boom, a senior executive told Reuters. A string of contracts in recent years has made Brazil a key market for the firm…

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