'The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three-quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11…
Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday.Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO…
Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project.Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations…
Yinson has completed an $800 million refinancing exercise for FPSO John Agyekum Kufuor, with the loan drawn down on April 14.The FPSO firm had announced the refinancing deal for the FPSO located in Ghana back in November 2019. The company at…
Australia's Woodside Petroleum Ltd said on Thursday that its sales slumped more than 20% in the first quarter, as the coronavirus pandemic and draconian measures to curb the outbreak crippled fuel demand globally.Oil and gas producers have been…
The Mediterranean-focused oil and gas company Energean has said that the hull of its Energean Power FPSO has reached Singapore.The China-built hull is expected to be fitted with the topside modules built in Singapore at the Sembcorp Yard, before setting sail to the Karish offshore field in Israel…
Indian oil and gas company ONGC plans to extend the contract for the Armada Sterling FPSO, owned by a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited.Bumi Armada said Wednesday that its JV company had recently received notification from ONGC…
FPSO-leasing company BW Offshore has been unable to remove the Umuroa FPSO from the Tui field in New Zealand following the contract termination, client liquidation, and the country's court and environment regulator intervention.The company was…
Eastern Mediterranean-focused gas group Energean said on Thursday a report showed its Karish North field contained around a third more gas and oil than it had previously thought.The Karish North field, according to an expert report typically used in the industry…
Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…
Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…
FPSO leasing company BW Offshore has informed that a charter for FPSO Cidade de Sao Mateus has expired. The FPSO was involved in an explosion in February 2015, an incident in which nine workers were killed, and 26 others injured. There were…
Malaysian FPSO provider Yinson has signed firm contracts with Petrobras for the delivery and for operation and maintenance of the Marlim 2 FPSO.The two companies had in October 2019 signed letters of intent for the long-term charter and operation…
Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices.Australia's top independent gas producer said…
China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said.CNOOC has a 25% stake in…
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