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Ancient Relics Found in Subsea Pipeline Route
Underwater archaeologists have been scouring the seabed where a gas pipeline is being built off Israel's coast in a bid to preserve relics near a 5,000-year-old port which once was a key trade hub for the Mediterranean's ancient civilizations.
SBM Offshore to Pay Additional Fines to Petrobras
SBM Offshore has reached a settlement to pay additional leniency fines of 200 million reais ($48.27 million) to Brazil's state oil company Petroleo Brasileiro SA, Brazilian prosecutors said on Wednesday. As a result of a long-running corruption investigation…
Höegh LNG Secures FSRU Debt Financing
Höegh LNG Holdings Ltd. said it has received commitment letter for a sale and leaseback financing for another floating storage and regasification unit (FSRU) of up to $206 million. FSRU #10 is currently under construction at Samsung Heavy Industries in South Korea…
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Spirit Energy Invests in West of Shetland
Spirit Energy will invest in exploration and appraisal West of Shetland for the first time early next year after farming into 50% of Hurricane Energy’s Greater Warwick Area. Spirit Energy will fund a $180 million (£139 million) campaign to drill three wells 100km West of Shetland…
Egina FPSO Sails to Offshore Field
The $3.3 billion Floating Production Storage Offloading (FPSO) unit built by Samsung Heavy Industries of Korea (SHI) for the 200,000 barrels per day capacity Egina oilfield began to sail to the oilfield Sunday, reports local media. Following fabrication and integration works in Lagos…
Hoegh Backs Out of Chile LNG Project but Buoyant on Market
Hoegh LNG said on Thursday it had let agreements lapse in Chile that tied one of its floating liquefied natural gas (LNG) import vessels to a project there because approvals for the initiative were likely to be delayed again. The Norwegian company…
Saipem Wins $700 Mln Worth of Offshore Contracts
Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana. These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, as the project operator…
Hoegh LNG to Supply FLNG Terminal to Australian Import Project
Norway's Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia's east coast from 2020 in a push to boost local supply. Australian Industrial Energy, a consortium that includes Japan's JERA and Marubeni Corp…
Bangladesh's First FSRU Starts Operations
Bangladesh started operations at the country's first liquefied natural gas (LNG) terminal on Saturday after ironing out teething issues related to technical problems and bad weather, two sources familiar with the matter told Reuters on Monday.
Shipbuilding: Oman Drydock CEO Aims to Triple Revenue by 2021
Said bin Homoud Al Maawali, CEO, Oman Drydock Company (ODC) means business when he aims to triple revenue by 2021, but it’s anything but business-as-usual at ODC. A neophyte to the shipyard world, he is a veteran business man with a long resume in multiple industries, a turnaround specialist.
Aker Solutions to Supply Umbilicals for Liuhua FPSO
Aker Solutions said it has been contracted to deliver power umbilical systems to China National Offshore Oil Corporation's (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong. The order, which is said to be worth more than NOK 350 million ($36.6 million)…
Woodside Petroleum Half-year Profit Rises
Australia's Woodside Petroleum Ltd said on Wednesday that its first-half net profit rose 6 percent and it raised its 2018 production outlook after strong performances from its Wheatstone and Pluto LNG projects. For the 2018 fiscal year, Woodside…
Global FPSO Market to Exceed USD 115 bln by 2024.
Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth. Increase in the conversion…
Ampelmann Six New North Sea Contracts
Offshore access solutions provider Ampelmann said it has strengthened its position in the North Sea this year after being awarded four new contracts and two extended scopes of work in the basin. The projects will see six E-type gangway systems…
Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them. The U.S.
De-risking the FPSO Renaissance
Floating production, storage and offloading vessels (FPSOs) are in the ascendancy. The total FPSO market is now expected to grow to over $117 billion by 2024. A combination of factors, such as the recovered oil price and renewed interest in deeper…
Aqualis Offshore to Position Egina FPSO
Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria. EPCIC contractor for the $3.3 billion FPSO, Samsung Heavy Industries…
Kosmos Energy Acquired DGE for $1.23 Bln
Kosmos Energy has agreed to acquire Deep Gulf Energy (DGE) from its private equity owner for $1.23 billion, according to a bourse filing on Monday, expanding the deepwater oil and gas firm's operations into the Gulf of Mexico. Dallas-based Kosmos…
Petrobras Prepays $975 Mln Worth of Bank Debt
Brazilian Petróleo Brasileiro SA has settled three bank loans worth a total of $975 million that were due 2022, the state-controlled oil company said in a securities filing on Monday. Petrobras, as the company is known, paid $325 million to Bank of America Corp…
Höegh LNG Secures Debt Financing for 9th FSRU
Norway's floating storage and regasification unit (FSRU) giant Höegh LNG said it has secured a USD 177 million debt financing for its FSRU delivery unit number 9. The FSRU is scheduled to be delivered in the fourth quarter of 2018. The facility…
Croatia Extends LNG Terminal Gas Bidding Deadline
A deadline for bids on output from a planned offshore liquefied natural gas (LNG) terminal to be built on Croatia's northern Adriatic island of Krk has been extended until Sept. 28, developers LNG Croatia said on Friday. Demand will dictate the capacity of the 250 million euro terminal…