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Aker BP Acquires Total's Norwegian Assets

Aker BP announced on Monday that it has completed the $205 million acquisition of Total E&P Norge's Norwegian continental shelf portfolio. Aker BP first announced the deal in July, and this week said all closing conditions have been fulfilled, and the closing of the transaction has now taken place.

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Petrobras May Divest $15 Bln Over Next Few Years

Brazil's state-controlled oil company Petroleo Brasileiro SA is considering divesting up to $15 billion within the next few years, one person with knowledge of the matter said on Thursday. The total divestment goal has not been approved yet…

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High Hopes for Campos Basin

Although much of the hype surrounding the Brazilian oil and gas market is directed toward the Santos Basin pre-salt, recent and older pre-salt discoveries in existing areas and on recently-awarded blocks within Campos Basin offer significant…

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First Steel Cut for Karish and Tanin FPSO

Energean Oil and Gas announced that first steel was cut on the Karish and Tanin floating production storage and offloading (FPSO) vessel at the COSCO yard in Zhoushan, China, on Monday. The FPSO is scheduled to be delivered to the Karish field offshore Israel in late 2020…

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Addax Petroleum Extends Yinson’s Adoon FPSO Deal

Nigeria-focused oil company Addax has extended the charter for the Yinson-owned FPSO Adoon for another three months, pending discussion for a potential longer-term deal. "Unless otherwise expressly defined in this announcement, terms and expressions…

Incoming Petrobras CEO: No Decision Yet on Future Pre-salt Auctions

No decision has yet been taken on the types of contract to be offered in Brazil's pre-salt deep water oil auctions, the incoming head of Petroleo Brasileiro SA said on Thursday, adding that fuel price policy is still being discussed. (Reporting by Mateus Maia Editing by Marguerita Choy)

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Big Oil Digs North Sea's 'Final Frontier'

"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea. That same rock is today the heart of BP's prized Clair field in the West of Shetland region…

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Total to Raise Output in 2019

Oil major Total's output will rise to 3 million barrels of oil equivalent per day in 2019, Chief Executive Patrick Pouyanne said on Friday. The company has said its production rate stood at 2.8 million barrels of oil equivalent per day during the third quarter of this year.

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SBM Orders Second Fast4Ward FPSO Hull

SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS). The order…

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Argentina to Export First LNG in 2019

Argentina is due to begin exports of liquefied natural gas from a part of its vast Vaca Muerta shale gas resource next year through a floating LNG liquefaction (FLNG) vessel provided by Exmar, the Belgian shipping company said on Wednesday.

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Johan Castberg Topside Construction Begins

Norwegian minister of petroleum and energy Kjell-Børge Freiberg cut the first sheet for the topside of the Johan Castberg floating production, storage and offloading unit (FPSO) at Kværner's yard at Stord on Wednesday as part of a large scale  project triggering ripple effects throughout Norway.

Atlantic Canada Oil Spill Caused by Weak Flowline Connection

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday. The spill is the largest-ever off the coast of the Canadian province…

Petrobras Units Could be Sold Under New CEO

Brazil's right-wing President-elect Jair Bolsonaro said on Monday that certain units of Petroleo Brasileiro could be privatized, even though the state-run company is strategic for the state. Speaking to reporters after his team named Chicago…

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Bangladesh Resolves FSRU Issues

Bangladesh will resume liquefied natural gas (LNG) imports this week after resolving issues with its sole floating storage and regasification (FSRU) unit, a senior official said on Monday. Two cargoes, meant to be delivered on Nov. 7 and Nov.

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Castello Branco Named Petrobras CEO

Brazil's incoming far-right government on Monday tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company's assets.

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Largest Chinese-built FSRU Delivered

PaxOcean’s Zhoushan Shipyard has delivered a 26,000m3 floating storage and regasification unit (FSRU) Karunia Dewata to Indonesia-based Jaya Samudra Karunia (JSK). The FSRU is the largest to be built in China and will be capable of regasifying around 50 million standard cubic feet per day.

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FPSO Market to Turn Around: Rystad Energy

The global floating production storage and offloading (FPSO) has stirred back to life after enduring a couple years in virtual hibernation during the downturn, said Rystad Energy research. With six new FPSO orders worldwide 2017 brought some…

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SBM Offshore: $45 Mln in Extra Impairments in Q3

SBM Offshore, the Netherlands-based maker of floating oil and gas production facilities, on Thursday said it expected $45 million in impairments in Brazil and the United States. In Brazil, SBM Offshore has decided to temporarily close the Brasa…

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Angola Battles to Revive Oil Exploration

On Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again.

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Aoka Mizu FPSO Needs Extra Repairs

The floating production storage and offloading (FPSO) unit Aoka Mizu's planned stop in Algeciras, Spain will be extended for additional repair work, said U.K. based Hurricane Energy. The FPSO, which will be used at Hurricane's Early Production…

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KrisEnergy Begins Latest Thai Drilling Program

Southeast Asia focused upstream oil and gas company KrisEnergy announced on Monday that the Mist jack-up rig has begun drilling the Montha-1 exploration well in the G10/48 contract area in the Gulf of Thailand. The well, located approximately…

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