Technip's joint venture with Sonangol, Technip Angola Engenharia Limitada, has been awarded a three year engineering services contract by Total E&P Angola. The contract covers services for the existing Girassol, Pazflor, Dalia and CLOV…
Douglas-Westwood (DW) forecasts deepwater expenditure to total US$137 billion from 2016-2020. This represents a 35% decline compared to DW’s previous edition of the deepwater forecast issued March 2015. The prolonged low oil price has impacted the deepwater market…
Petronas' first floating liquefied natural gas (FLNG) facility officially received its name, PFLNG Satu, at a ceremony held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. President and group CEO of Petronas…
The Prof. John Atta Mills floating production, storage and offloading vessel has arrived at the TEN project offshore Ghana, after a five week voyage from Singapore. TEN field operator Tullow Oil said first oil from the development is on track for July/August…
Subsea 7 has won a contract extension from BP for subsea construction, inspection, repair and maintenance (IRM) services in the North Sea. Under the agreement, Subsea 7 will provide BP with an additional two years of IRM delivery, extending the contract to 2019…
Most of the news in the rig market is bad, but there are bright spots if you look hard enough. Audrey Leon sets out the details. Image from OE Staff. Not much has changed for…
The floating rig market is preparing for the most challenging year ahead. Leslie Cook, of Quest Offshore, explains. Noble Corp. announced in Q1 it would retire the Noble Discoverer drillship after…
MX Oil has agreed terms for the sale of its 5% stake in the Aje field offshore Nigeria to GEC Petroleum Development Co. (GPDC), a Nigerian company. GPDC, a wholly owned subsidiary of Global Energy Co., operates two licenses offshore (OPLs…
The failure of UK-based independent explorer First Oil has resulted in partners EnQuest and Cairn Energy increasing their stakes in the Kraken heavy oil field development. First Oil had held 15% interest in the Kraken field in the UK North Sea…
Owners of significant floating assets are continuing to feel the pinch in the offshore market as rates sink to “unsustainable levels.” Floating production specialist BW Offshore says it is cutting its onshore staff by 35%, while Norwegian…
Tullow Oil is reducing how much its Jubilee floating production, storage and offloading (FPSO) vessel can rotate after discovering an issue with the vessel's turret bearing. The Kwame Nkrumah FPSO vessel, which started production from the field…
Malaysian independent exploration firm Hibiscus Petroleum is set to become a UK North Sea operator after receiving regulatory and shareholder approval for its acquisition of a 50% stake in the Anasuria cluster. It will be the firm's first producing asset…
Norway-based floating LNG specialist Höegh LNG says it will not engage in further new floating LNG (FLNG) developments, but focus on floating storage, and regasification units (FRSUs). The firm plans to have a fleet of 12 FRSUs by 2019…
French cables firm Nexans has been selected to supply the cabling for Total's deep water Egina floating production, storage and offloading (FPSO) vessel. The vessel is being built by Samsung Heavy Industries under a Euro 2.8 billion turnkey contract - its largest FPSO contract to date…
Forsys Subsea, the joint venture between FMC Technologies and Technip, has been awarded a contract from Statoil to provide a subsea front-end engineering and design (FEED) study for subsea tie-back of Trestakk to Åsgard A floating production…
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