Offshore Production News

 

BW Offshore Sells BW Joko Tole FPSO

Jan 24, 2022

Oslo-listed FPSO owner BW Offshore has agreed to sell the FPSO BW Joko Tole to PT Bahari Inti Tanker and PT Cahaya Haluan Pasifik, both of which are Indonesian companies, in consortium with PT Buana Lintas Lautan Tbk, a company publicly listed in Indonesia. The consortium will continue to operate the FPSO under the lease contract with Kangean Energy Indonesia, BW Offshore said.'The transaction is part of BW Offshore's strategy to transition to floating energy infrastructure investments…

Schlumberger Expects 'Supercycle' as Demand Lifts Profit above Forecast

Jan 24, 2022

Schlumberger beat expectations with a rise in fourth-quarter profit on Friday as higher crude and natural gas prices drove demand for the world's largest oilfield services company.Oil prices surged about 50% last year and are trading at seven…

Danish Wind Turbine Maker Vestas Tops List of 100 Most Sustainable Companies

Jan 21, 2022

Danish offshore and onshore wind turbine maker Vestas has been named the most sustainable company in the world in Corporate Knight's 2022 ranking of the world’s 100 most sustainable corporations.According to Corporate Knights, its ranking is based on a rigorous assessment of nearly 7…

"Triple deficit": Morgan Stanley Expects $100 a Barrel in 2H 2022

Jan 21, 2022

Morgan Stanley expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous 'triple deficit' of inventories, spare capacity, and investment.'The key oil products markets (gasoline…

Australia: Santos Bullish on Prices after Reaping Record Revenue

Jan 21, 2022

Australian gas producer Santos Ltd booked record sales revenue for 2021, pumped up by soaring oil and gas prices, and expects to reap big gains following its $6.2 billion takeover of Oil Search amid a surging energy market.After approaching Oil Search with an offer in the middle of last year…

Oil Majors TotalEnergies and Chevron Exit Myanmar Citing Worsening Humanitarian Situation

Jan 21, 2022

Oil majors TotalEnergies and Chevron Corp, partners in a major gas project in Myanmar, said on Friday they were withdrawing from the country, citing the worsening humanitarian situation following last year's coup.Shell, in its first public acknowledgment of the move…

Shell, UK Regulators Renew Talks on Jackdaw Offshore Field Development

Jan 21, 2022

Royal Dutch Shell and British regulators have revived talks on developing the Jackdaw gas field in the North Sea as the government struggles with soaring gas and power prices, company and industry sources said.In recent weeks, Secretary of State at the Department of Business…

Covid Outbreak Hits Enauta FPSO. Production Line Fixed, Output to Resume Next Week

Jan 20, 2022

Brazilian oil company Enauta has completed repairs of a production line of the FPSO Petrojarl I FPSO at the Atlanta heavy crude oil field in Brazil, following last week's preventive shutdown of production, however, the company informed on Thursday of a COVID-10 outbreak aboard the floater…

Norway's December Oil & Gas Output Rises

Jan 20, 2022

Norway's oil and gas output in December rose from the previous month, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Thursday.Crude oil output increased to 1.84 million barrels per day (bpd) in December from 1.73 million bpd in November…

Brazil, Guyana, and Suriname In Energy Alliance Push

Jan 20, 2022

The heads of state of Brazil, Guyana, and Suriname this week will take the first steps toward forging an infrastructure that would better share the neighboring South American countries' energy and natural resources.Brazil's President Jair Bolsonaro…

Baker Hughes Posts Q4 Profit as Higher Oil Prices Spur Drilling Demand

Jan 20, 2022

Baker Hughes Co on Thursday reported an adjusted quarterly profit compared with a year-ago loss, as producers took advantage of a rise in crude prices that fueled demand for oilfield service equipment.Oil prices surged more than 50% last year…

Heerema to Install Six Large Jackets at Saudi Aramco's Marjan Field

Jan 20, 2022

Dutch offshore installation company Heerema Marine Contractors has won a contract with McDermott to transport and install six large jackets within Package-1 of Saudi Aramco’s Marjan Increment program.The Marjan oil and gas field is located in the Arabian Gulf off the eastern coast of Saudi Arabia…

Appeals Court Revives BP’s Fight Over Deepwater Cleanup Workers’ Claims

Jan 20, 2022

A federal appeals court on Wednesday revived a fight between BP, two contractors, and an insurance company over who should pay for thousands of personal injury claims brought by cleanup workers after the Deepwater Horizon explosion and fire in 2010…

Norwegian Supply Increase Not Enough to Replace Missing Russian Gas

Jan 19, 2022

Norway is delivering natural gas to Europe at maximum capacity, but this cannot replace any missing supplies from Russia, Norwegian Prime Minister Jonas Gahr Stoere said on Wednesday.Norwegian companies have optimized their delivery potential…

Petrojarl I FPSO Extends Stay at Enauta's Atlanta Field, Offshore Brazil

Jan 19, 2022

Brazilian oil company Enauta has extended the charter of the Petrojarl I FPSO, used as an early production system at its Atlanta field, in the Santos Basin, offshore Brazil.Enauta signed contracts with Altera to extend the charter and Operation and Maintenance (O&M) of FPSO Petrojarl I…

Current News

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Ex-NYSERDA Principal Engineer Joins Floating Wind Specialist Hexicon

Ex-NYSERDA Principal Engineer Joins Floating Wind Specialist Hexicon

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