The first steel cutting ceremony was held last week at the BOMESC yard in China for the topside of an FPSO to be deployed at the Equinor-operated Bacalhau oil field off Brazil.The Bacalhau FPSO will be deployed to develop the first phase of the Bacalhau field in Brazil's pre-salt Santos Basin…
Hurricane Energy plc, an oil and gas company that produces oil from the Lancaster field off the UK, is facing business wind-down unless it agrees a shorter charter extension for the Aoka Mizu FPSO than originally agreed.The company, which started…
Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development.The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday…
Offshore drilling firm Valaris said Wednesday it had won a contract extension for one of its jack-up drilling rigs with Norway-based oil company Equinor.The contract is for the Valaris JU-291 jack-up drilling unit, formerly known as the Rowan Stavanger…
Norwegian oil and gas company Equnior has made a final investment decision for the development of the Bacalhau field offshore Brazil.The development of the field located in the Santos Basin will cost around $8 billion. Arne Sigve Nylund, Equinor’s executive vice president for Projects…
Dyna-Mac, a Singapore-based firm building modules for offshore oil and gas facilities, has won a module fabrication deal with FPSO supplier BW Offshore.The contract, valued at S$197 million (around $148 million), is for the supply, fabrication…
The number of FPSO leases set to expire in 2022 is significantly higher than the yearly average of ~3 since 2015, with the potential of 30 units becoming available by end of 2022, energy market research firm Westwood said Wednesday.Westwood…
Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed…
A string of new projects will help boost revenues at SBM Offshore, the oil and gas services company said on Wednesday, after reporting an expected 15% drop in the first quarter due to weakness at its turnkey business.The Dutch-based company's…
Korea Shipbuilding & Offshore Engineering has through its subsidiary Hyundai Heavy Industries secured a ~$764,5 million order for the construction of an FPSO Hull.In a stock exchange filing on Tuesday, KSOE said it had secured a KRW 854,7 billion…
French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO.The Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40…
Norway-based Axess Group has signed an offshore support services contract with FPSO operator Altera Infrastructure.Axess said this week that the long-term global contract would see Axess provide offshore support services to FPSO assets located…
Brazil's Petroleo Brasileiro SA will exercise its rights of first refusal and bid for the deepwater oil fields Sepia and Atapu, the company said in a filing.Petrobras, as the state-controlled producer is known, is aiming at a 30% stake in each field…
The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER)…
Brazil's Petrobras produced 2.196 million barrels of oil a day in the first quarter, the state-run company said on Tuesday, an increase from the fourth quarter, but a decline in yearly terms.Petroleo Brasileiro SA, as the company is formally known…