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…
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, 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 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…
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…
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…
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…
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'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, 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…
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, 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…
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…
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…
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…
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