Shell has agreed to sell a 23% stake in the Parque das Conchas (BC-10) project, offshore Brazil, to Qatar Petroleum International, for about US$1 billion. Shell will continue to operate BC-10, with a 50% working interest, and retains a significant upstream presence in Brazil…
BG Group has cut its 2014-15 production forecasts and issued a series of force majeure notices under its LNG agreements in Egypt. The notices are due to the diversion of gas volumes to domestic markets in excess of existing pooling arrangements…
Bad weather has slowed work to replace riser sections damaged when an FPSO came off station. The Rubicon Vantage FPSO drifted into an exclusion zone designed to protect the Bualuang oil field production infrastructure in the Gulf of Thailand in bad weather…
Emerson Network Power has been selected as the main uninterruptible power supply (UPS) systems provider for Shell’s Prelude floating LNG project. Prelude is the world’s first floating liquefied natural gas (FLNG) project, currently under construction in Korea…
Production commenced offshore Angola’s first deepwater development, utilizing BP Exploration’s (Angola) US$14 billion FPSO PSVM, the largest deepwater project in Africa. PSVM consists of four oilfields - Plutão, Saturno, Vénus and Marte…
BW Offshore has signed a letter of intent to acquire 30% of the Polvo oil field, located in the Campos basin in Brazil. Following the ongoing sale of BP’s stake in the Polvo field to HRT Participações em Petróleo S.A. (HRT), BW Offshore has the intention to acquire half of HRT’s stake…
Oil major Shell is planning to breath new life into its oldest North Sea floating production unit after acquiring new 4D seismic data last year. According to a partner on one of the fields produced by the Anasuria floating production…
Following its 10,625nm (19,678km) voyage from China, the FPSO Cidade de Ilhabela arrived at Brazil's Brasa yard on Jan. 12 ready for the next step in its journey: bare hull and topside integration. Conversion work was completed in China in October 2013…
Brazilian independent HRT Participacoes em Petroleo SA acquired a 60% working interest and the operatorship stake in the Polvo field from BP Energy do Brasil Ltda, following the Jan. 8 close on a deal worth US$101 million.In the transaction…
CAMAC Energy Inc. has signed a letter of intent (LOI) on the terms and conditions of a long-term agreement for the use of the Armada Perdana floating, production, storage, and offloading system (FPSO) as part of its further development of the Oyo field offshore Nigeria…
VAALCO Energy Inc. has said construction work on two production platforms for the additional development of the Etame Marin block offshore Gabon is continuing on schedule. One platform is due to be installed in the Etame field, and the…
A floating production (FPSO) vessel moored over the Bualuang oil field in the Gulf of Thailand damaged a production riser after drifting off station in bad weather. The Rubicon Vantage FPSO drifted into the exclusion zone designed to protect the production infrastructure…
The President of Brazil, Dilma Rousseff, and Petrobras CEO, Maria das Graças Silva Foster, attended the work completion ceremony for the P-62 platform on 17 Dec 2013, at the Atlântico Sul Shipyard, in Ipojuca (state of Pernambuco). Before the ceremony…
On 4 Dec 2013, OGX Petroleo e Gas SA , Brazil's second-largest oil company by market value, began production in the Tubarão Martelo field, located in the BM-C-39 and BM-C-40 blocks, through the horizontal well TBMT-8H. On 29 Nov 2013…
Milan-based Saipem announced an agreement with Eni for the sale of the Firenze FPSO (Floating Production Storage and Offloading) business line for €336 million (US$464 million). The agreement includes the Firenze FPSO unit, the on-board processing plan…