FPSO for Greater Tortue Gas Project Due in Senegal by end-2022
BP's floating, production, storage, and offloading vessel (FPSO) for the Greater Tortue Ahmeyim gas project offshore West Africa is expected in Senegal waters for commissioning and testing by the end of 2022, a company executive said on Friday.The FPSO for the project, which straddles Senegal and Mauritania, is being built in China by France's Technip Energies.Massaer Cisse, BP's vice-president, and Senegal country director told an oil conference in Dakar that the FPSO will be…
Sinopec to Supply Low Sulphur Bunker Fuel Starting 2019
China's Sinopec will start supply lower sulphur bunker fuel meeting IMO 2020 standard in 2019, Liu Zurong, General Manager of Sinopec Fuel Oil Company said on Thursday.All of Sinopec's supplies will meet IMO 2020 standard by Jan. 1, 2020, Liu said at an oil conference in Zhoushan, near Shanghai.Sinopec is aiming to sell lower fuel bunker fuel to Singapore and some "One Belt One Road" countries by 2020, Liu said.(Reporting by Meng Meng and Aizhu Chen; editing by David Evans)
Borr Drilling Aims to Start Paying Dividends by 2020
Drilling rig contractor Borr Drilling aims to start paying dividends by 2020, the company's founder and chairman, Tor Olav Troeim, said on Wednesday.Troeim, a former business partner of Norwegian billionaire John Fredriksen, founded Borr Drilling at the end of 2016 and the company has quickly grown into one of the largest owners of jack-up rigs which drill in the shallow waters.Schlumberger, the world's top oil service firm, is Borr Drilling's largest shareholder with a stake of 14.2 percent."We have an ambition to return a significant part of cash back to shareholders quickly ...
Statoil Looks to the Arctic to Increase Exploration off Norway
Oil firm Statoil is looking to a rebound in exploration activity offshore Norway in the next few years with a focus on the Arctic, having curbed activity due to the oil price slump, the firm's exploration chief for Norway told Reuters. Exploration activity in the coming years is crucial to secure Statoil's future production in its home base, which faces a decline from current levels after 2025 if mature fields are not replaced by new resources. It can take up to 15 years from discovery to a field to come on stream. "We're looking to the 23rd round to trigger an uptick in activity for us," he said on the sidelines of an oil conference.
Angola: Tender for 12 Offshore Oil Blocks
Angolan state oil company Sonangol plans to launch a tender for licences to explore 12 new offshore oil blocks in 2015, state news agency Angop cited Oil Minister Jose Botelho de Vasconcelos as saying on Friday. Seven of the new blocks will be located in the Namibe Basin and the remaining five in the Lower Congo Basin, a Sonangol spokesman told Reuters. Angola is Africa's biggest oil producer after Nigeria, with international majors such as France's Total, Italy's ENI, Britain's BP, and U.S. firms Chevron and Exxon Mobil among the main operators in the country. Angop cited Vasconcelos, who was speaking at an oil conference in Moscow, as reiterating Angola's goal of ramping up production to 2 million barrels per day (mbpd) by 2015, from an average of 1.73 mbpd last year.
Oil Major Total Close to Angola Kaombo Decision
French oil major Total is on the verge of making a final investment decision on Angola's Kaombo oil project after lowering the cost by $4 billion, its chief executive said on Friday. "We're on the verge," Christophe de Margerie told reporters on the sidelines of an oil conference in Paris. The field is expected to produce 230,000 barrels of oil equivalent per day, with a start-up date expected in 2017. Sonangol P&P has a 30 percent stake in the project, Sonangol Sinopec International has 20 percent, ExxonMobil's Esso unit holds 15 percent and Total owns the remaining 30 percent.
Kuwait's oil output capacity rises to 3.3 mln bpd - KPC
Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5 million bpd in 2015, the head of its state oil company said on Monday. Kuwaiti officials have previously said that capacity in the OPEC member state was around 3.1-3.2 million bpd. "Kuwait has increased its production capacity to 3.3 million barrels per day. It will reach 3.5 million barrels per day by 2015," Kuwait Petroleum Corporation Chief Executive Nizar al-Adsani told an oil conference. Kuwait still hopes to reach 4 million bpd of capacity in 2020, despite slow progress in developing new projects. But Adsani said the Gulf Arab state needed more help from abroad to achieve that long-term target.
