Fid News

 

Updated: Exxon, Hess move forward with Liza

Jun 16, 2017

ExxonMobil and partner Hess have made a final investment decision to proceed with a US$4.4 billion first phase of development of the giant Liza field, in the Stabroek block, offshore Guyana. The firm says it has also had positive results on its latest well on the field…

Exxon's Liza FID expected this month

Jun 05, 2017

The Guyanese government is expected to grant ExxonMobil and its partners a production license for the giant Liza project ahead of the partnership’s final investment decision (FID), which is set for this month. Map of Stabroek…

Ophir inks Fortuna construction contracts

May 10, 2017

Construction contracts have been awarded for Ophir Energy's Fortuna LNG project offshore Equatorial Guinea. Fortuna will be Africa’s first deepwater FLNG project and is targeted for first gas in mid-2020 at a cost of US$2 billion. The project…

Ophir to drill off Ivory Coast, reach Fortuna FID

Mar 09, 2017

Ophir Energy has lined up projects for the year, and is ready to spud a well offshore Cote d’Ivoire, in addition to reaching a final investment decision (FID) for the Fortuna FLNG Project, offshore Equatorial Guinea. Image from Ophir…

When is a FID not a FID?

Feb 10, 2017

Large upstream projects are more often delivered by a group of partners rather than a single 100% owner. This spreads project risks and can also make it possible to finance megaprojects, which could be beyond the capacity of any single player…

Leviathan partners approve development plan

Dec 12, 2016

Delek Drilling and Avner Oil, part of the Leviathan partnership with Noble Energy, has approved the development plan for the mega-discovery, offshore Israel, the two announced today 12 December. The decision paves the way to Leviathan's final investment decision (FID)…

Big projects, big opportunities

Nov 01, 2016

EIC’s Neil Golding outlines activity in East and South Africa. Houston-based independent Anadarko made its first gas discovery at the Offshore Area 1 block offshore Mozambique in 2010. The discovery, along with Eni’s major finds, mean…

ONS: 2017 the time to FID, suggests Wood Mack

Aug 29, 2016

Some US$50 billion has been dropped from the Norwegian oil and gas investment hopper from 2014 up to 2020, according to figures presented at the ONS exhibition and conference in Stavanger today. The fall, amid a $1 trillion drop in global spending in the same period…

Wood Group Mustang chosen for Leviathan FEED

Jun 22, 2016

Wood Group Mustang has been chosen by the Leviathan partners to provide the front-end engineering and design (FEED) work for the Leviathan project’s production platform in a US$120 million deal. Image from Wood Group Mustang Twitter…

Schlumberger drops out of Fortuna LNG

Apr 29, 2016

Schlumberger and Ophir have terminated discussions over a move which could have given the oilfield services firm a 40% stake in the Fortuna floating LNG development offshore Equatorial Guinea.  Earlier this year, Schlumberger had reached a heads of terms agreement with Ophir over the project…

Wood Mac: Few LNG project reductions

Sep 03, 2015

In a new global gas analysis, Wood Mackenzie remarks that despite the outlook for global LNG demand looking increasingly subdued, the number of LNG projects proposed to take a final investment decision (FID) in 2015 and 2016 has not reduced significantly…

Delayed FIDs leaves $200 billion investment hole

Jul 28, 2015

Major offshore upstream investment has dwindled to such a level that we may be able to count the number of projects that reached a final investment decision (FID) on just one hand, according to Wood Mackenzie Principal Analyst Angus Rodger…

Ruche FPSO plan approved

Oct 13, 2014

A plan to develop the Ruche fields in the Duffafu license offshore Gabon using a floating production, storage and offloading vessel has been approved by the country’s authorities.  The project, operated by Harvest Natural Resources, will see the Ruche A (formally Ruche)…

Petronas decides on FLNG2 project

Feb 13, 2014

Petronas has reached the final investment decision(FID) for its second FLNG facility project, off the coast of Sabah in Malaysia. The FID was approved by the Petronas board on 23 Jan 2014. Subsequently, Petronas has issued a letter of award for the engineering procurement…

Swifter surface logging

Jun 26, 2012

Surface logging company Empirica, a member of Reservoir Group, launched two new technologies that the company expects will trim significantly the time it takes to sample and view well data.Dual Flame Ionised Detection (Dual FID) technology is a high-speed chromatograph…

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