Offshore Floating Production News - page 8

Layang Field Starts Oil Production

Dec 20, 2019

Commercial oil production started earlier this month from Layang field on Block SK10 offshore Sarawak, Malaysia, operator JX Nippon Oil & Gas Exploration Corporation announced this week.Layang, which has been producing natural gas since May 2017…

Vår Aims to Recover 136 Mln BOE from Balder

Dec 17, 2019

Oil firm Vår Energi, majority owned by Italy's Eni, aims to recover 136 million barrels of oil equivalent (boe) from the Balder area off Norway, the company said on Tuesday, as it presented a redevelopment plan for the field.The 19.6 billion crown ($2…

BP Confirms 'World Class' Gas off Mauritania and Senegal

Dec 16, 2019

BP announced on Monday that its three-well drilling program offshore Mauritania and Senegal encountered gas in 'high quality', confirming the supermajor's confidence in the 'world-class scale' of the hydrocarbon resources in the West African region…

Guyana Seeking Oil Buyers

Dec 16, 2019

Guyana has invited companies interested in purchasing the first three deliveries of the government's share of the country's looming oil production to present bids this week, the government said in a statement on Sunday.The government will later…

S&P Cuts Tullow Oil's Credit Rating

Dec 13, 2019

Ratings agency S&P Global on Friday downgraded Tullow Oil's long-term credit rating to 'B' from 'B+', days after the Africa-focused company's Chief Executive Officer stepped down and it scrapped its dividend.The London-listed company, which…

Japanese Partners Buy into Sepetiba FPSO

Dec 13, 2019

Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) have purchased minority interests in the lease and operation of a newbuild floating production, storage and offloading unity (FPSO) from majority owner SBM Offshore. FPSO Sepetiba…

Aker Solutions, Subsea 7 Win Ærfugl Subsea Scope

Dec 12, 2019

Aker BP has tapped Aker Solutions and Subsea 7 to deliver and install subsea infrastructure for the second phase of the Ærfugl development offshore Norway.The Aker BP operated Ærfugl development is a subsea project being developed in two phases…

SBM Offshore Inks FPSO Sepetiba Contracts

Dec 11, 2019

SBM Offshore announced on Wednesday that it has firmed up contracts with Brazil’s Petróleo Brasileiro S.A. (Petrobras) for the 22.5-years lease and operation of a floating production, storage and offloading unit (FPSO) to be deployed at the Mero field in the Santos Basin offshore Brazil…

Deckers to Retire as SBM Board Chairman

Dec 11, 2019

SBM Offshore's longtime chairman of the supervisory board Floris Deckers will retire following the company's April 2020 annual general meeting (AGM), the Dutch floating production, storage and offloading unit (FPSO) specialist announced.Roeland Baan…

SBM Optimizes FPSO N’Goma Project Loan

Dec 09, 2019

SBM Offshore announced the closure of a supplemental non-recourse project loan facility of $250 million. The facility is related to the entity Sonasing Xikomba Ltd., which owns the floating production, storage and offloading unit (FPSO) N’Goma operating offshore Angola…

Petrobras May Sell Stakes in Marlim, Papa-Terra

Dec 05, 2019

Brazilian state-run oil firm Petrobras is considering putting additional stakes in significant offshore oilfields up for sale, executives said on Wednesday, as the company continues to aggressively de-leverage.In a presentation, the executives said they may sell stakes in the Marlim field…

SBM Orders Two More Fast4Ward Hulls

Dec 05, 2019

SBM Offshore announced it has signed contracts with Chinese shipyards for the construction of the company’s fourth and fifth hulls under its purchase program for Fast4Ward newbuild multipurpose floating production, storage and offloading unit (FPSO) hulls…

Spike in Floater Orders, as Demands Ease

Nov 28, 2019

For a range of reasons not all related to costs, offshore operators have stated their preference for floating production with a recent slew of orders, a report by dedicated floating production watchers said this week.The world’s floating production…

Petrobras Trims 2020 Production Target

Nov 28, 2019

Brazilian oil company Petroleo Brasileiro SA on Thursday trimmed its oil and gas production outlook for next year, weighing on its shares despite more ambitious long-term output forecasts in its new five-year strategic plan.Petrobras, as the state-run firm is known…

SBM Acquires Constellation's Stakes in 5 FPSOs

Nov 22, 2019

SBM Offshore announced on Friday it has completed the purchase of Constellation’s equity ownership in the lease and operating companies related to five Brazilian floating production, storage and offloading units (FPSO).The Netherlands based…

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