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Oil Rises Toward $65

Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand. OPEC and its allies led by Russia agreed last week to extend their supply-cutting deal until March 2020.

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Floater Sector Active Despite Market Volatility

Activity in the floating production sector has not been slowed by the recent volatility seen across global oil markets, according to a recent report by World Energy Reports (WER). Brent oil, which had reached as high as the mid $70 range earlier this year…

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NOV to Supply STP for MJ FPSO

APL, a business unit within NOV's Completion & Production Solutions segment, has secured the contract from South Korean builder Samsung Heavy Industries to supply a large submerged turret production (STP) system for a newbuild floating production…

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Eni Awarded License Offshore Ghana

Eni and its partners have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana, the Italian supermajor announced of Wednesday. Eni said it will be the operator of the license, and its…

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Eni Starts Producing from Miztón Offshore Mexico

Italian supermajor Eni said it has started the early production phase from the Miztón field, located in the Campeche Bay offshore Mexico, marking the first step in the development of Area 1, which is estimated to hold 2.1 billion of oil equivalent in place (90% oil) in the Amoca…

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Aker BP Discovers Oil at Frosk

Aker BP ASA, operator of production license 340, has finalized the results after drilling wildcat well 24/9-15 S (Froskelår Nordøst) and appraisal well 24/9-15 A. According to a press note from the Norwegian Petroleum Directorate (NPD), the wells…

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Shell, Exxon Eye Somalia's Offshore

Royal Dutch Shell and Exxon Mobil are looking to return to Somalia ahead of an oil block bid round later this year, the East African country's oil ministry said. Shell and Exxon Mobil had a joint venture on five offshore blocks in Somalia prior…

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Guyana's First FPSO Named Liza Destiny

Dutch-based global group SBM Offshore said that its FPSO, Liza Destiny, destined for ExxonMobil’s Liza field in Guyana, was named at Keppel Shipyard in Singapore. “This is a very special vessel, which will be the first to operate offshore Guyana.

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IPC Begins Drilling Program in Malaysia

The oil and gas exploration and production company International Petroleum Corporation (IPC) has commenced drilling the first well in a planned multi-well drilling program on Block PM307, located offshore Peninsular Malaysia. Canada-based IPC…

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Curlew FPSO Arrives in Dundee for Cleaning Ahead of Scrapping

Shell's Curlew floating production, storage and offloading vessel (FPSO) arrived in Dundee, Scotland on Saturday for cleaning and waste disposal in preparation for full decommissioning. The work will be undertaken in the Port of Dundee by Augean North Sea Services (ANSS)…

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Yinson Gets Extension for Vietnam FPSO

Malaysian floater company Yinson  Holdings Bhd has secured another extension of its floating production storage and offloading (FPSO) with Petrovietnam Technical Services Corp (PTSC) for operations at the Lam Son Field. According to the second addendum to the interim contract…

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Teekay, Alpha Petroleum FPSO Deal Terminated

Teekay Offshore Partners, midstream services provider to the offshore oil production industry, said that the agreement with Alpha Petroleum signed in October 2018 for Teekay’s Petrojarl Varg vessel to operate on Alpha’s 100%-owned Cheviot field was terminated.

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Brent Oil Climbed 5% This Week

Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output. Brent crude was up $0.69…

SubseaPartner Tallies FPSO Work in the UK

Norwegian diving contractor SubseaPartner announced it has secured a contract from floating production, storage and offloading unit owner and operator Teekay Offshore for dive work offshore the UK. The contract includes ongoing subsea work on the FPSOs Petrojarl Foinaven and Hummingbird.

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Addax Signs FPSO Charter with Yinson

Malaysia's  Yinson Holdings has secured a four-year extension of its floating production storage and offloading (FPSO) charter contract worth $137.5 million with Sinopec subsidiary Addax Petroleum. Yinson said in a stock exchange annoucement…

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Hurricane Sells First Cargo from Lancaster

UK based oil and gas company Hurricane Energy said it has sold its first cargo lifted from the Aoka Mizu floating production, storage and offloading unit (FPSO) at its Lancaster field offshore Scotland. The cargo was marketed by BP Oil International…

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Brazil Postpones Santos Basin Bid Round

Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP.

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Worley, Enaval Form Brazil Brownfield JV

Australian-based engineering firm Worley said it has entered into a 50:50 joint venture with Brazilian services company Enaval. The new joint venture, Worley Enaval (WE) Integrated Solutions, combines Worley’s global engineering and brownfield…

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Libra Partners Launch Mero Phase 2

Project partners have taken the investment decision for the second phase of the Mero project in the deepwater Libra block of the pre-salt Santos Basin offshore Brazil, Brazilian state-controlled oil company Petrobras announced on Tuesday. Brazilian state-controlled oil company Petrobras…

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Jedstone Starts RLWI Work at Montara

Asia Pacific focused Jadestone Energy announced Monday it has begun a riserless light well intervention (RLWI) campaign at the Montara complex, offshore Australia. The Sapura Constructor light well intervention vessel was mobilized to the field on May 30…

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Oil Rises on Likely OPEC+ Supply Cuts

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures…

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