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SBM Offshore Expects Lower 2021 Earnings as Clients Cut Spending
SBM Offshore forecast that 2021 core earnings will be slightly below market expectations, the multinational oil firm said on Thursday, noting 2020 challenges will spill into 2021 as many of its clients had to cut budgets.The Dutch company, which supplies floating oil and gas production vessels, forecasts earnings before interest, tax, depreciation, and amortization (EBITDA) of around $900 million in 2021…
Cummins QSK95s: Big Electric Power for Conversion of Ariake to FPSO
Floating Production Storage and Offloading (FPSO) vessels are essential tools in the search for oil in deeper waters, further from shore-based facilities. Typically, the large FPSO is stationary with a number of wells feeding oil into its holds. The oil can then be pumped off to shuttle tankers that transport it to shore side tanks and refineries.FPSOs are big expensive pieces of equipment. Some of them are converted from ocean going oil tankers.
VIDEO: BP's Argos Platform Sails Away from S. Korea
Oil major BP has informed that its Argos oil platform, built by Samsung Heavy Industry, has set sail from South Korea and is en route to Texas.The platform, which will be capable of producing up to 140,000 gross barrels of crude oil per day from up to 14 production wells, will be deployed in the U.S. Gulf of Mexico as part of the Mad Dog 2 development.As previously reported, the Argos platform weighing almost 70…
Gallery: BP's Giant Argos Platform Loaded on BOKA Vanguard in South Korea
BP's giant Argos offshore platform, to be used for the Mad Dog 2 development in the Gulf of Mexico, was this week loaded on Boskalis' BOKA Vanguard vessel in South Korea and is preparing set sail for the U.S.According to Boskalis, the Dutch marine services contractor, the giant Argos floating production unit weighing nearly 70,000 tons was floated onto Boskalis' semi-submersible heavy transport vessel BOKA Vanguard on Tuesday."The vessel was submerged well over 29 meters to make this happen.
Petrojarl Banff FPSO to Be Recycled in Denmark
M.A.R.S. Europe said it has been awarded a contract by Teekay Petrojarl Floating Production UK Ltd. for dismantling and recycling of the Petrojarl Banff floating production, storage and offloading unit (FPSO). The deal includes engineering, preparation, dismantling and green recycling of the long-serving floater.Teekay's Petrojarl Banff FPSO is expected to arrive at M.A.R.S. Europe’s EU-approved facility in the Port of Frederikshavn…
Eni Extends Abo FPSO Contract
Italian oil company Eni has extended the contract for BW Offshore's Abo Floating Production Storage Offloading (FPSO) vessel.BW Offshore, the owner of the FPSO, said Monday it had signed the extension with Eni's subsidiary Nigerian Agip Exploration.Under the extension, the FPSO, used for production from the Abo field offshore Nigeria, will remain on the contract until the end of the fourth quarter of 2021, with options until Q2 2023.
DNV GL Scores Work at BHP's Trion FPU
Australian oil and gas company BHP, working to develop the Trion field offshore Mexico, has hired DNV GL to verify that the new infrastructure built for the Trion project is compliant with local and global safety, as well as other requirements. BHP acquired the Trion asset in Mexico’s first-ever Deepwater Bid Round in 2016. The Trion field encompasses an area of 1,285 square kilometers and is located in the deep waters of the Perdido belt.
Keppel Offshore & Marine Wins $74,7M FPSO Conversion Work
Singapore's Keppel Offshore & Marine has won a contract from an unnamed repeat customer worth about S$100 million (USD 74,7 million) for the fabrication and integration work on a Floating Production Storage and Offloading vessel (FPSO).Scheduled for delivery in 4Q 2022, Keppel Shipyard’s scope of work includes the fabrication, installation and integration of topside modules, riser balconies and spread mooring support structures…
ARMS Reliability Wins Contract with MODEC
ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production, storage and offloading unit (FPSO) project for the Bacalhau field, offshore Brazil. The Bacalhau FPSO, the largest ever ordered for Brazil, will be capable of producing up to 220…
Wilhelmsen Gets DNV GL Type Approval for the Digi Boiler
Alongside the unique Type Approval for the Digi Boiler automated dosing system, Wilhelmsen have also been certified as reportedly the first and only approved service supplier for DNV GL’s BMON+ class notation.“Our system is tried, tested and proven at sea, but we understood that Type Approval was an absolute necessity, and so we initiated this process with DNV GL," said Rune Nygaard, Business Manager Ventures in Wilhelmsen Marine Products’ recently established Open Innovation division.
McDermott Ships Second Batch of Topside Modules for Modec FPSO
Offshore engineering and construction firm McDermott on Thursday announced the second shipment of topside modules for a floating production storage and offloading (FPSO) unit for Japans' Modec.The new shipment comes just weeks after the first shipment of modules sailed away from McDermott's Altamira fabrication facility in Mexico to be installed on the FPSO named Miamte MV34.The once completed, the FPSO will be located in the Eni-operated Area 1 block…
Petrobras to Buy P-71 FPSO and Deploy It on Itapu Field
Brazilian national oil company Petrobras has agreed to buy the P-71 Floating Production Storage and Offloading (FPSO) vessel and use it for the development of the Itapu field.Petrobras said that the FPSO was to be used at the Tupi field, however, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), Petrobras agreed to buy the FPSO for $353 million…
Digitizing Risk-based Integrity Management of FPSOs
Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities.No one could have predicted what a challenging year 2020 would become.
ABS Grants Approval in Principle for DSME Floater
Maritime and offshore classification society American Bureau of Shipping (ABS) has granted Approval in Principle (AiP) for the design of what it described as "a wide breadth, single row, near-shore LNG Floating Production Storage Offloading Vessel (FPSO) hull with a jetty-moored system." The hull design has been developed by South Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME).The…
KOTUG Anchor Handler Secures Offshore Work in Guyana
Dutch marine services and towage company KOTUG said it has been awarded a long-term contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) to provide offshore terminal towage support for operations in Guyana.KOTUG, through local entity KOTUG Guyana Inc., will employ a high-spec 130 tonnes bollard pull, DP-2 azimuth anchor-handling tug SD Power to provide support to the existing and upcoming floating production…
Yinson's First FPSO for Brazil Arrives at Second Shipyard
Malaysia's Yinson said its floating production, storage and offloading unit (FPSO) Anna Nery sailed away from the Cosco Qidong shipyard in Jiangsu, China and has entered drydock at the Cosco Changxing shipyard in Shanghai, marking the next phase of the FPSO construction.FPSO Anna Nery, which is being built from a converted tanker Falcon, is Yinson’s first asset planned for deployment in Brazil and the largest project to date.
First Topside Modules Ship for Miamte MV34 FPSO
The first batch of topside modules has been shipped for a floating production storage and offloading (FPSO) unit for Japan's MODEC, U.S.-based engineering and construction firm McDermott International said on Wednesday.The FPSO, named Miamte MV34, will be used on the Amoca and Mizton fields located in the Eni-operated Area 1 block, in the Campeche Bay approximately 10 kilometers off the coast of Mexico, in approximately 32 meters water depth.
BP, Golar Agree 11-month Delay for Gimi FLNG
Golar LNG has informed that force majeure events have been lifted on the GIMI FLNG the company is building for Greater Tortue Ahmeyim project in Senegal/Mauritania offshore area, and that the project would be delayed for 11 months compared to the original schedule.Golar and BP in February 2019 signed a 20-year deal for the charter of a floating liquefied natural gas (FLNG) unit, Gimi, for the project in Senegal/Mauritania, with the expected start-up in 2022.
Singapore Holds Key Role in Maritime Decarbonization
Singapore, which counts decarbonization among its top priorities, holds a key role in the maritime industry's push toward environmental sustainability, the nation's transport minister Ong Ye Kung said Thursday during the Future of Shipping Webinar on Decarbonization.One-third of world trade funnels through the narrow Straits of Malacca and Singapore, giving the small city state prominence and influence…
New Lives for Old Ships: Inside Keppel O&M’s FLNG Conversion Solution
As the focus on carbon emissions comes to the fore across all industries, Keppel O&M, which supports the circular economy concept and is a ship conversion leader, is able to help companies reduce their indirect emissions. Proof of this was delivery of the world’s first FLNG conversion solution that dramatically reduced the carbon footprint of the project as compared to new construction. There’s a second conversion project currently underway…