Sbm News

The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…

Japanese FPSO leasing firm MODEC said Thursday that the first steel-cutting ceremony for the Guyana-bound FPSO Errea Wittu had been held in China.MODEC secured its first order to supply an FPSO to Guyana in May 2023. The order came from an ExxonMobil-led consortium and is for the deployment of the FPSO to the giant Stabroek offshore block in Guyana, where Exxon already has three FPSOs in production, all three supplied by SBM Offshore.According to World Energy Reports, China's DSIC has the construction hull contract…

Chinese shipbuilder China Merchant Heavy Industries (CMHI) has contracted TMC Compressors (TMC) to deliver the completed marine compressed air system to a newbuild FPSO the Chinese yard is constructing for the Dutch FPSO leasing firm SBM Offshore.Under the contract, TMC will provide a large-capacity marine compressed air system, including compressors for control and service air on board the FPSO.TMC will manufacture and assemble the equipment in Europe and deliver it to CMHI in China.

Dutch firm SBM Offshore said Friday it had won contracts to perform front-end engineering and design (FEED) for a floating production, storage, and offloading vessel (FPSO) for the ExxonMobil-led Whiptail development project in Guyana.Following FEED and subject to government approvals in Guyana of the development plan, and project sanction, including the final investment decision by ExxonMobil, to release the second phase of work, SBM Offshore will construct and install the FPSO.

Four major oil ports in Libya have reopened after shutting down on Saturday because of the powerful storm that swept the country, killing thousands of people, port agent Al Omran International Maritime Agencies said on Wednesday. The eastern ports of Brega, Es Sidra and Ras Lanuf opened on Tuesday and the port of Zueitina opened on Wednesday morning, Al Omran said. Oil prices rose on Wednesday, with Brent firming around a 10-month peak reached during trading a day earlier, as…

In a first, Brazilian oil company Petrobras last week reportedly sold the P-32 FPSO for sustainable recycling in Brazil, paving the way for the development of the local ship recycling industry.The sale of the floating unit P-32 reportedly took place on July 7, 2023. In a collaboration supervised by Petrobras, the steel company Gerdau S.A. and shipyard Ecovix have been entrusted with the responsible and environmentally sound recycling of the FPSO."This decision marks the first time a commercial vessel at the end of its lifecycle will be dismantled in Brazil.

After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO demand is competing for yard space with other construction projects.To mitigate delay risk and cost overruns, some E&Ps have reviewed their FPSO procurement strategies.

The Brazil-bound FPSO Sepetiba sailed away from the BOMESC shipyard in China on June 16, 2023, following completion of the topsides integration and onshore commissioning phases.The unit—SBM Offshore’s third Fast4Ward FPSO—is transiting to the Mero field in the Santos Basin offshore Brazil, located 180 kilometers offshore Rio de Janeiro. SBM Offshore has a contract with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba. First oil is expected in the second half of 2023.The FPSO will have the capacity to produce up to 180…

Shell has cut crude oil imports at its Singapore refinery this month and is relying on smaller tankers after extending repairs at its single buoy mooring (SBM) facility to June, according to government notices and shipping data.The company is moving crude from Very Large Crude Carriers (VLCC) onto smaller Aframax tankers through ship-to-ship transfers before discharging them at another jetty on Pulau Bukom, the island south of Singapore where the refinery is located, shipping…

Japan's MODEC said Monday it would proceed with engineering, procurement, and construction on the Uaru FPSO vessel following a final investment decision on the Uaru offshore oil project by ExxonMobil in Guyana last month.The Uaru FPSO is named ‘Errea Wittu’, which means ‘abundance,’ and will be the fifth offshore FPSO in Guyana and the first to be supplied by MODEC. The first four, two of which are now in production in the Stabroek block off Guyana, were/will be delivered by SBM Offshore.Apart from supplying the Errea Wittu FPSO…

Dutch FPSO specialist SBM Offshore on Tuesday announced the arrival of the FPSO Prosperity at the Stabroek Block offshore Guyana.The FPSO traveled just over 11,000 nautical miles – or just over 20,000 kilometers - from Singapore to Guyana in just under 50 days.On track for first oil later this year, Prosperity becomes Guyana’s third FPSO, joining two other SBM Offshore-delivered FPSOs, the Liza Destiny and Liza Unity.The FPSO will be spread moored in water depth of about 1,900 meters and is designed to produce 220…

Oslo-listed FPSO leasing company BW Offshore said Wednesday a fatal incident had occurred in the Priya Blue shipyard in India, but that it was not related to ongoing recycling of former BW Offshore FPSOs at the yard.BW Offshore said in February it had signed an agreement with Priya Blue Industries yard in India to recycle the Cidade de São Vicente FPSO in compliance with Hong Kong Convention. The convention, adopted in 2009, is aimed at ensuring that ships when being recycled after reaching the end of their operational lives…

The Dutch FPSO leasing specialist SBM Offshore said Friday the construction of the topside modules had kicked off in Singapore for one of the company's largest-ever FPSO units, the One Guyana FPSO."During September this year, two steel strike ceremonies were held in both Keppel FELS and DynaMac yards. This marks a key milestone, which is the start of the fabrication of the marine structures and the topside modules," SBM Offshore said.SBM Offshore received an order from ExxonMobil in April to deliver the One Guyana FPSO for the Yellowtail development offshore Guyana.

Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's “Uaru” oil field development project offshore Guyana.The FEED contract award relates to the initial funding by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to begin FEED activities related to the FPSO design and to secure the second M350TM hull for FPSO service.Following FEED and subject to government approvals in Guyana of the development plan…

Dutch FPSO leasing company SBM Offshore said Friday that the China-built hull of the FPSO ONE Guyana had entered drydock at Keppel Shipyard in Singapore. One Guyana is one of SBM Offshore's largest-ever FPSO Units and is being built for deployment at ExxonMobil-operated Stabroek Block offshore Guyana. "The FPSO ONE GUYANA project passing another major milestone: the vessel successfully entered drydock at the Keppel yard in Singapore. The project team will continue construction with the next steps being the installation of the mooring structures and riser balcony.

FPSO specialist SBM Offshore has shared a video showing the lifting and installation of the first topside module batch for the Prosperity FPSO at the Keppel O&M yard in Singapore. The hull of the FPSO Prosperity, which will be Guyana's third offshore production unit after the Liza Destiny and Liza Unity, has recently left the dry dock in preparation for topside installation works, which have now started.The Prosperity FPSO hull arrived in Singapore last year from China where it was built.

Singapore's Keppel Offshore & Marine has, via its subsidiary Keppel Shipyard, secured contracts worth around S$250 million (~USD180,4 million) for the integration of two Floating Production Storage and Offloading vessels (FPSO).Keppel Offshore & Marine, which is set to merge with Sembcorp Marine, said Friday that the FPSO integration contracts were awarded by repeat customers, BW Offshore, and SBM Offshore.The first contract is between Keppel Shipyard and BW Offshore to carry out the integration work on a newbuild FPSO.

Dutch FPSO leasing specialist SBM Offshore said Thursday it had completed the US$1.75 billion project financing for the FPSO One Guyana. The company has previously said that this would be the company's largest FPSO so far. It will be deployed at ExxonMobil's Yellowtail development, offshore Guyana.The Dutch firm, which is behind all four FPSO projects in Guyana, said the One Guyana project financing was secured by a consortium of 15 international banks. SBM Offshore expects to draw the loan in full, phased over the construction period of the FPSO.

Dutch FPSO leasing specialist SBM Offshore has ordered its latest Fast4Ward multi-purpose floater hull as it marked a new record level order book at $31.1 billion. The latest Fast4Ward floating production unit (FPU) is expected to be delivered in 2024, the firm said yesterday in its half year earnings. It also said it could have near-zero emissions FPSO available to the market by 2025. "Our market outlook for new FPSOs remains positive as the world requires energy which is not only sustainable, but also affordable and reliable," said Bruno Chabas, CEO of SBM Offshore.

China's soybean stocks are set to tighten further as delays in shipments from the United States deepen shortages of key animal feed ingredient soymeal, keeping prices at record highs. Ships carrying up to three million tonnes of U.S. soybeans which were scheduled to arrive this month and in November are likely to get delayed by about 15 to 20 days, two soybean traders told Reuters. While U.S. cargo delays are likely to weigh on benchmark Chicago soybean futures, tight soymeal supplies will buoy Chinese hog prices.

Maritime classification society The American Bureau of Shipping (ABS) on Monday launched detailed requirements for greener offshore operations in what it said was the first sustainability guide to target the offshore industry."Developed by working with major offshore industry clients, ABS today launches a revised sustainability guide expanded with offshore asset compliance requirements.The updated ABS Guide for Sustainability Notations addresses topside functions on offshore assets such as emissions and discharge based on feedback from ABS clients…

Singapore's Keppel Offshore & Marine said Wednesday it was on track to deliver a "mega" floating production, storage, and offloading vessel (FPSO) to SBM Offshore in the first quarter of 2023. This is the third FPSO that Keppel Shipyard is delivering to SBM Offshore and will be chartered to the consortium of ExxonMobil, CNOOC, and Hess, to operate in the Stabroek Block, offshore Guyana. The vessel was named Prosperity FPSO by Guest of Honour,  Arya Ali, the First Lady of the Co-operative Republic of Guyana at a ceremony held Wednesday at Keppel Shipyard.

Equatorial Guinea has detained an oil tanker capable of carrying 2 million barrels after it attempted to load in Nigeria without proper paperwork, both countries said this week.The Nigerian navy said in a statement that the Heroic Idun, a very large crude carrier (VLCC), was attempting to load oil at the Akpo SBM on Aug. 8 without due clearance from state oil company NNPC, and that it "resisted arrest" when ordered to stop.It was not immediately clear who was the vessel's owner or operator.