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Monday, April 23, 2018

Floating Production Services News

BW Offshore Gets FPSO Abo extension

 ABO FPSO. Photo:  BW Offshore

Global provider of floating production services to the oil and gas industry BW Offshore has signed an interim extension agreement for Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., until 30 April 2018. The short term extension has been agreed to secure operational continuity while joint work is continuing to conclude the negotiations. Two weeks ago, BW Offshore received notice from Petrobras of the exercise of a one-year extension of the contracts relating to the FPSO Cidade de São Mateus.

SBM Offshore Says Petrobras Discussions Ongoing

Floating production services provider SBM Offshore responded to media reports of a potential settlement with Petrobras regarding tenders in Brazil, stating the discussions are presently ongoing and a conclusion has not been reached.   SBM Offshore announced September 28 that it was invited to participate in Petrobras tenders.   The company said it is in constructive discussions with the authorities but will not further comment pending the finalization of these discussions.

EOC's FPSO Sale Completion Extended

The intended sale completion of EOC's majority equity interest in the owning and operating of the FPSO 'Perisai Kamelia' (formerly known as 'Lewek Arunothai' has been put back to 31, August 2013. The vessel is to be sold according to an earlier agreement between to Perisai Petroleum Technologi BHD (Perisai) from EOC Limited. Labuan, Malaysia (being the state of incorporation of one of the Target Entities) relating to the transfer of shares in a Labuan-incorporated company, the Company and Perisai have agreed that completion of the FPSO Sale will be extended from 15 August 2013 to 31 August 2013. EOC Limited offers offshore floating production services that support the full life cycle of offshore oil and gas (O&G) production.

BW Offshore Extend FPSO Nigerian Contracts

BW Offshore has agreed an extension for their FPSO's 'Abo' and ''. The extension for Abo is with Nigerian Agip Exploration Ltd of nine months. and for Sendje Berge with Addax Petroleum Exploration Ltd of three months. These extensions have been agreed to secure operational continuity while joint work to detail longer term programs for investment and production are completed. About BW Offshore:
 BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore is the world's second largest contractor with a fleet of 14 FPSOs and 1 FSO represented in all major oil regions world-wide.

BW Offshore CEO Sees Signs of Recovery

Carl Arnet (Photo: BW Offshore)

BW Offshore, which delivers floating production services to the oil and gas industry, sees signs of an improved market. "It's still early days but we definitely see a pick-up in discussions and tendering activity," CEO Carl Arnet said during the firm's first-quarter earnings presentation. Says Brazil will be important but also sees activity elsewhere. BW Offshore reported Q1 earnings below forecast on Monday. Regarding the FPSO Cidade de Sao Mateus, which has been off work since an explosion in February 2015: Insurance settlement gave a positive liquidity effect in Q1.

Keppel Shipyard to Deliver FPSO

FPSO Lewek Arunothai is the first FPSO Keppel Shipyard has completed for EOC.

Keppel Shipyard is on track to delivering FPSO Lewek Arunothai to EOC Limited (EOC) for a South East Asian client. The 725,000 bbls storage FPSO was named at a ceremony on June 21. FPSO Lewek Arunothai is the first FPSO that Keppel Shipyard has converted for EOC. The first part of the vessel’s refurbishment and life extension was carried out at Subic Shipyard in the , while the engineering, procurement and topside fabrication were in progress in . The vessel then sailed to Keppel Shipyard to complete the remaining conversion and integration of topside works.

Kongsberg to Supply FPSO Safety System

Kongsberg Maritime Engineering (KME), the wholly owned Engineering, Procurement and Construction (EPC) subsidiary of global maritime technology developer Kongsberg Maritime, will deliver an Integrated Control and Safety System for the new BW Offshore Catcher FPSO. The contract follows BW Offshore’s signing of a lease and operate contract with Premier Oil and its joint venture partners at the end of April 2014 for a FPSO to operate on the Catcher oil field in the U.K. North Sea. The field is owned by Premier Oil (50%, operator), Cairn Energy (30%) and MOL (20%). BW Offshore's scope includes the delivery of the FPSO, mooring system, installation and operation of the unit throughout the charter period.

BW Catcher Sails to North Sea

Photo: BW Offshore

BW Offshore, a leading global provider of floating production services to the oil and gas industry, announced the sail away of the FPSO BW Catcher. The vessel has left Keppel Shipyard in Singapore and is currently in transit to the Catcher field in the central North Sea. BW Catcher is expected to reach UK waters early in the fourth quarter, depending on prevailing weather conditions. Upon its arrival, BW Catcher will commence a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil.

BW Offshore Gets Contract Extension for FPSO Polvo

BW Catcher . Photo: BW Offshore

BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract…

BW Offshore Awards SatCom Contract to Orange

SatCom dish: File photo

Provider of floating production services to the oil and gas industry, BW Offshore, says it has signed a 5-year, $12 million contract with Orange Business Services for an end-to-end satellite communication solution for its fleet of oil and gas production vessels. Orange Business Services is providing Maritime VSAT – a fully managed end-to-end satellite-based communication solution – which fully integrates BW Offshore’s 14 vessels and two land-based locations into the Orange MPLS network.

MODEC Connects Offshore Fleet with O3b/RigNet

O3b Networks, technology solutions company RigNet and floating production service provider MODEC, entered an agreement to provide high-throughput, low latency connectivity for MODEC’s Floating Production Storage and Offloading (FPSO) vessels off the coast of Brazil. RigNet will integrate the O3b satellite network solution, enabling MODEC to deliver operational decisions in real-time through advanced collaborative environments. Experts at onshore monitoring centers can now work directly with offshore operators, using real-time information to make better and faster decisions, resulting in increased production and enhanced operating efficiency. O3b connectivity significantly contributes to the governance of the Control of the Work required on board.

TechnipFMC Grabs BP FPSO Design Contract

FPSO. Photo: TechnipFMC plc

UK-based TechnipFMC has been awarded a front-end engineering design (FEED) contract by BP for the floating production storage and offloading (FPSO) unit for the Tortue/Ahmeyim Field Development, a major LNG (liquefied natural gas) project located offshore on the maritime border of Mauritania and Senegal. The agreement between the two companies provides a mechanism to allow a transition of the contract to an Engineering, Procurement, Construction and Installation (EPCI) contract at a later stage.

Fire in Sauna Shuts World's Northernmost Oilfield

Goliat FPSO (© Eni Norge)

The world's northernmost oilfield was shut on Friday when a fire broke out in a sauna in the oil platform's living quarters, Eni, the Italian oil company that operates the field, said. The Arctic Goliat field is in the Barents Sea about 88 kilometers off the coast of Norway and inside the Arctic Circle. The platform has floating production, storage and offloading facilities and can produce close to 100,000 barrels of crude per day. The fire was quickly put out, and no crew members were injured, although some smoke did develop, Eni said.

New Offshore Decommissioning Barge

Photo: Longitude Engineering

Longitude Engineering reportedly has developed a cost effective decommissioning barge concept for the removal of small oil and gas platforms for the PTT Exploration and Production (PTTEP), a subsidiary of the Thai state owned oil company. The aim was to develop a viable and cost-effective alternative to conventional ‘reverse installation’ through the use of heavy lift crane barges for the removal of the topsides and jackets. The focus being the removal of 90-100 of PTTEP’s minimum facilities platform assets in the Gulf of Thailand…

Liebherr´s New Floating Crane Goes to Market

New Liebherr high performance four-rope-grab crane design CBG 360.

The latest four rope grab crane development of Liebherr´s floating crane segment is going to be installed on a converted handymax bulk carrier (45,000 DWT) with a total length of 185 m and a breadth of 30.5 m. The ship will be retrofitted with the two Liebherr bulk handling cranes at the Turkish shipyard Kuzey Star Shipyard Tuzla / Istanbul. After completion of the conversion in early 2019, the ship will be used as a transshipment solution for grain handling in the Black Sea and…

Floating Production Systems to Grow 40% in Five Years

3D Model of FPU

IMA has just completed an in-depth analysis of the floating production sector. The study profiles the deepwater industry, examines the dynamics driving the sector and forecasts orders for floating production systems between 2013 and 2017. Highlighted below are some key findings in the study. There are now 264 floating production systems in operation. The number of units is 25% greater than five years ago, almost 85% higher than 10 years back and triple the number of units 15 years ago. Most of the growth has been in the number of Floating Production, Storage and Offloading Vessels (FPSOs).

Floating Production: What’s New in January?

Photo: Petrobras

2014 Floater Orders – We thought it would be useful to provide a summary of floater orders placed last year. As listed below, 25 units were ordered during the year - 10 FPSOs, one Barge, four FLNGs, seven FSRUs and three FSOs. 2015 Outlook for Floater Orders – The drop in oil/gas prices and ongoing implosion in Petrobras have combined to create a perfect storm in the deepwater sector. More than 170 projects involving oil production floaters and 35 floating liquefaction projects are in the planning stage.

Odfjell Drilling to Expand Fleet

(Photo: Odfjell Drilling)

Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday, the latest sign of recovery in the energy industry.After cuts in exploration spending following an oil price plunge that began in 2014, energy firms are now hiring rigs as crude prices have recovered some ground.Odfjell raised $175 million via a new share issue on Thursday to help buy semi-submersible Stena Midmax Rig from Samsung Heavy Industries for $505 million.

Orders for Floating Production Systems

If confirmation is needed that the offshore oil sector is booming, it’s clearly provided by the recent spike in orders for production floaters. Since July there have been orders for 20 production floaters, adding almost 9% to the future inventory of FPSOs, production semis, spars and tension leg platforms. Growth in Number of Units — There are 188 production floaters in service or available as of end 2006. Another 62 are on order for delivery over the next two years. According to Jim McCaul, head of U.S. Current Inventory — The current inventory consists of 115 FPSOs, 39 production semis, 20 TLPs and 14 spars. They are producing on fields primarily offshore West Africa, Northern Europe, US Gulf Coast, Brazil, Southeast Asia, China and Australia/New Zealand.

Top Five Trends in Offshore Wind

A turbine at the Hywind Scotland floating wind farm offshore Scotland (Photo: Arne Reidar Mortensen / Statoil)

As technologies mature and dramatic cost-cutting continues, the future is looking bright for offshore wind. Below are five trends to keep an eye on.Follow the LeaderOffshore wind’s established leader, Europe, will continue to show the way forward and build capacity. At the end of 2016, nearly 88 percent of the world’s offshore wind installations were located in European waters. In 2017, Europe saw a record 3,148 MW of net additional offshore wind capacity installed, with 560 new offshore wind turbines across 17 wind farms, according to WindEurope.

What’s New in Floating Production? December 2016

© ggw / Adobe Stock

The December WER report examines whether OPEC’s decision to limit crude production will accelerate deepwater project starts over the next 12 to 24 months, given 3 billion barrels of oil stocks in global inventory, 5,000+ drilled-but-uncompleted shale wells in the U.S. ready to be fracked and likelihood that producers will cheat on output quotas. As we discuss in the report, the output cut could stimulate deepwater orders – but with a time lag. We also assess whether Hoegh and Maran’s orders for seven speculative FSRUs (two firm…

Floating Production: Huge Opportunity for Shipyards, Manufacturers

Chart 3

Floating production has been one of the most significant achievements in the upstream oil and gas industry over the past four decades. There are two basic types of floating production systems: oil/gas production units and LNG/gas processing units. Common to both is the use of a floating facility to support an oil and/or gas processing plant to monetize oil and/or gas deposits. •    Floating oil/gas production systems:  These production systems are positioned on offshore fields and used to produce oil and gas contained in subsea reservoirs.

MOL Accepts "Great Ship of the Year" Award

Mr. Yoshikazu Kawagoe, Chief Technical Officer, Mitsui O.S.K. Lines accepts the "Great Ship of 2017" Award from Greg Trauthwein, Maritime Reporter & Engineering News.

Maritime Reporter & Engineering New’s Great Ship of 2017 Award was presented to Mr. Yoshikazu Kawagoe, Chief Technical Officer, Mitsui O.S.K. Lines in MOL’s headquarters in Tokyo. A full report on the world’s 3rd largest shipowner will publish soon in the pages of MR. Mitsui O.S.K. Lines, Ltd. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery of MOL FSRU Challenger the…

Maritime Reporter Magazine Cover Apr 2018 - Offshore Energy Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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