2020 will be a peak year for floating production, storage and offloading unit (FPSO) demand with up to 14 awards forecast in Wood Mackenzie’s base case scenario, half of which will be located offshore Latin America. Only two of these facilities are expected to be Petrobras units…
Oil output estimated at 1.2 million barrels per day by 2030, Guyana’s total annual oil revenues could approach $30 billion within 10 years and could send the country's GDP 'skyrocketing,' according to research by Rystad Energy, a Norwegian energy intelligence company…
UK-based offshore technology company Osbit said it has been awarded a contract by FTAI Ocean, a subsidiary of Fortress Transportation and Infrastructure Investors LLC (FTAI), to design and construct a new well intervention tower system.Osbit’s…
Offshore wind farm developer Orsted has set out a plan to work with its service suppliers to decarbonize the supply chain by 2040. The move follows the Danish company's last week's commitment to becoming carbon neutral by 2025, and becoming…
Exxon Mobil's second lift of Guyanese crude from the offshore Liza Destiny platform is underway and has been sold on the open market, the company said on Monday. The U.S. oil major, in a consortium with Hess Corp and China's CNOOC Ltd, has discovered…
First oil has started flowing from the BP-operated Alligin field in the West of Shetland region, offshore UK.Alligin is a part of the Greater Schiehallion Area and has been developed as a two-well subsea tie-back into the existing Schiehallion…
India's D1 D3 offshore gas field, the country's first deepwater gas development to be brought online, has ceased production, Reliance and BP joint venture said Monday.The field, in Block KG D6 (KG-DWN-98/3), off the east coast of India, started producing gas in April 2009…
Brazilian oil company PetroRio has agreed to buy the OSX-3 FPSO for $140 million, and acquire an 80 percent stake in the Dommo Energia's Tubarao Martelo field off Brazil where the FPSO is currently deployed. The OSX-3 FPSO was built and delivered to the Tubarão Martelo Field in 2012…
Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the…
Brazil's Petrobras has launched a teaser for the sale of its entire share in the Papa Terra field, 110 kilometers from the coast offshore Brazil.The Brazilian oil company said that the planned sale of the field was in line with its portfolio optimization and improvement of capital allocation…
U.S. engineering and construction giant KBR has won what it says is 'a major Project Management Consultancy (PMC) services contract' with the UAE-based oil company ADNOC.KBR said Monday that the contract was related to the Ghasha Concession portfolio of projects…
A report by a nonprofit watchdog group critical of Exxon Mobil Corp's oil contract with Guyana has rekindled a debate over whether the deal is too generous to the company, just a month before a crucial presidential election.In a report published Monday…
Israel's Delek Drilling expects a final investment decision this year on expanding exports from the Leviathan gas field using either an LNG facility in Egypt or a floating terminal, its CEO said on Monday. The offshore Leviathan project came…
The U.S. government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy said on Sunday, after the South American nation's attempt to sell tens of billions of dollars of production rights to private firms last year largely flopped…
Greek oil company Energean has said that its Karish development in the Mediterranean Sea off Israel is on track for first production in the first half of 2021. Energean has previously said that the first gas is expected to start flowing in the first quarter of 2021…
Subscribe
