State-controlled oil firm Petroleo Brasileiro SA said the cost of extracting oil in subsalt areas may fall from the current level of $6 a barrel, Chief Executive Roberto Castello Branco said during an event.(Reporting by Marta Nogueira Writing by Ana Mano Editing by Chizu Nomiyama)
Production is shut down at the 220,000-barrel-per-day Hibernia oil platform off the coast of eastern Canada, Hibernia's largest shareholder ExxonMobil Corp said on Monday, after a temporary power cut led to oil and water leaking into the ocean…
Worley subsidiary INTECSEA has been awarded a project management consultancy (PMC) contract by Reliance Industries Ltd (RIL) for the MJ Field deepwater gas and condensate project offshore India.Under the contract, INTECSEA will provide PMC services…
The owner and operator of floating production storage and offloading (FPSO) vessels BW Offshore has received a one-year contract extension for the lease of one of vessels from Vaalco Energy.The Oslo Stock Exchange-listed company said in a press…
Canada's Husky Energy said on Friday it will resume full production at its White Rose field off the coast of Newfoundland & Labrador, which was shut down last year after an oil spill in November 2018.White Rose production will ramp up to reach full rates of approximately 20…
Japanese FPSO provider MODEC has decided to issue project bonds to international investors to refinance a floating production, storage and offloading (FPSO) vessel chartered to the TUPI consortium.TUPI consortium is led by Petrobras with the…
Vår Energi said it has awarded an engineering, procurement, construction and installation (EPCI) contract to Rosenberg Worley for the lifetime extension of the Jotun floating production storage and offloading vessel (FPSO), enabling oil and gas production from the Balder field until 2045…
Airborne Oil & Gas announced on Wednesday it has secured a contract with Addax Petroleum which will see the firm deliver two gas lift jumpers offshore Nigeria.The Netherlands headquartered business will supply two, 180-meter-long thermoplastic…
Oilfield equipment and services company NOV said it has completed the first full topside process systems delivery for Helang FPSO redeployment.NOV's Process and Flow Technologies business unit was contracted by Yinson to design and deliver the full topside process system for FPSO Helang…
Construction on SBM Offshore's third Fast4Ward floating production, storage and offloading unit (FPSO) hull recently began at Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore (SWS), the Dutch FPSO provider revealed on Thursday…
Floating production solutions specialist Amplus Energy Services announced on Wednesday that it has been awarded a multimillion-dollar contract to reevaluate the development of marginal fields in Angola with the aim to form economically viable…
Belgium-based crude oil tanker company Euronav NV has sold its oldest very large crude carrier (VLCC) for conversion into a floating production storage and offloading (FPSO) vessel.The ship owner announced that its subsidiary Euronav Luxembourg has sold the VLCC vessel VK Eddie (2005 – 305…
Brazilian state-run oil company Petroleo Brasileiro SA, or Petrobras, posted a long-awaited production boost in July after a disappointing June, as it ramped up production in the promising offshore 'pre-salt' region.In a presentation to discuss record quarterly profits…
Japanese floating production specialist MODEC has developed a pair of next generation new build hull designs for floating production, storage and offloading (FPSO) vessels developed in partnership with Mitsui E&S Shipbuilding, targeting greater production and storage capacity…
Malaysia's Floating, Production, Storage and Offloading (FPSO & FSO) service provider Yinson Holdings Berhad said that it has secured a two-month extension for its Lam Son FPSO for operations within the Lam Son field, offshore Vietnam.'The…