The Bahamas News

 

FPSOs: Floating Ideas

Oct 25, 2021

The world’s FPSO fleet is getting older, with 55 FPSO units in the global fleet reaching the end of their design life in the next five years, with an additional five having life extension in place. With 19 more FPSOs currently being evaluated for life extension, safety issues and structural integrity concerns come to the fore? Matt Tremblay, ABS Vice President, Global Offshore, explains the challenges for FPSO operators…

Petrobras Buys Its First Guyanese Crude Cargo

Jun 22, 2022

Brazilian state-controlled oil company Petrobras has bought its first cargo of Guyanese crude for refining domestically, the company told Reuters, as South America's newest producer expands its market reach.With the start of a second floating production facility in February…

Challenger Energy Gets Offshore Exploration License in Uruguay

May 26, 2022

Challenger Energy, the company previously known as the Bahamas Petroleum Company, has formally signed a license agreement for the AREA OFF-1 petroleum license offshore Uruguay.The AREA OFF-1 license has a total area of approximately 15,000 km2 and is situated in water depths from 20 to 1000 meters…

Guyana Gets $106M from Exxon for Oil from Newest FPSO Liza Unity

Apr 25, 2022

Guyana sold its first share of crude oil from the country's newest offshore production facility to ExxonMobil for about $106 million, the government said.One of South America's poorest nations, Guyana plans to use proceeds from oil in the short term to build roads…

Samsung Delivers Shuttle Tanker to Altera

Apr 01, 2022

Altera Infrastructure, formerly known as Teekay Offshore, said it has taken delivery of a new shuttle tanker from Samsung Heavy Industries in South Korea.The 148,200 DWT newbuild, Altera Thule, was handed over to Altera on Thursday. The ship's…

ABS Launches Floating Production Life Extension Guide

Dec 14, 2021

American Bureau of Shipping has further developed its approach to aging offshore assets with the publication of the Guide for Life Extension of Floating Production Installations.ABS said that the guidance supported operators looking to extend…

UN Deep-sea Mining Rules Unlikely to be Completed by 2023 Deadline, Latam Countries Say

Oct 28, 2021

Regulations governing deep-sea mining will take longer to finalize due to the global pandemic, a group of Latin American countries said, creating uncertainty for companies looking to mine the sea bed for metals, including cobalt and nickel.The…

Cambodia Seeks Return of Ship Carrying Country's First Oil Output

Aug 26, 2021

The Cambodian government is seeking the return of an oil tanker and its crew who have been detained in Indonesia, alleging that the ship had loaded oil illegally from an offshore oil field, a government official said on Thursday.The Bahamas…

Indonesia Seizes Tanker Loaded with 'Stolen' Cambodian Crude

Aug 26, 2021

Indonesia's navy is preparing to charge the captain of a ship accused of loading oil illegally in Cambodia and anchoring in Indonesian waters without permission, according to local authorities and the vessel owner.Bahamas-flagged tanker MT Strovolos…

Challenger Energy Believes in The Bahamas Offshore Potential Despite Dry Well. Seeks Partner, License Extension

Aug 16, 2021

Challenger Energy, the company until recently known as the Bahamas Petroleum Company, is seeking an extension to the license period for its offshore blocks in the Bahamas after it earlier this year drilled an offshore well that failed to unearth commercial quantities of oil…

Group Formed to Tackle Safety Issues Aging Global FPSO Fleet Faces

Aug 12, 2021

Maritime and offshore classification society ABS said Thursday it had brought together leading companies in the Floating Production Storage and Offloading (FPSO) sector to address the safety challenges produced by a fleet where more than half…

Bahamas Petroleum Company Changes Name

May 21, 2021

Bahamas Petroleum Company, an oil and gas company focused on the Caribbean and Atlantic margin, which earlier this year failed to unearth commercial quantities of oil from the closely watched Perseverance well offshore the Bahamas, is changing its name…

Siem Spearfish Lands Gulf of Mexico Contract

Apr 23, 2021

Norwegian based Siem Offshore said it has entered into a contract with an undisclosed subsea construction company for an offshore project in the Gulf of Mexico.The project will utilize the Bahamas-flagged offshore support and construction vessel…

The Bahamas: BPC Completes Drilling of Perseverance #1 with Non-Commercial Oil Discovery

Feb 08, 2021

Bahamas Petroleum Company (BPC) said Monday that its Perseverance #1 well offshore The Bahamas has encountered oil, however, not in commercial volumes.'The Perseverance #1 well in The Bahamas has encountered hydrocarbons, successfully validated the structural model and the petroleum system…

20 High Impact O&G Exploration Wells to Watch in 2021

Jan 13, 2021

High impact exploration has weathered a perfect storm of a pandemic, an oil price crash, and an accelerating energy transition, and enters 2021 with a substantial drilling program that should at least match 2020.High-impact exploration started…

Current News

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

U.S. to Add 6 GW of Offshore Wind Capacity Through 2029 -EIA

U.S. to Add 6 GW of Offshore Wind Capacity Through 2029 -EIA

Russia to Replace Sakhalin-2 Project Operator with New Firm

Russia to Replace Sakhalin-2 Project Operator with New Firm

Biden Administration Offshore Drilling Plan Delayed

Biden Administration Offshore Drilling Plan Delayed

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