FPSO

The national oil companies (NOCs), Eni from Italy and Sonangol from Angola, together with the local joint venture Sonangol – Sinopec called SSI Fifteen limited (SSI Fifteen) intend to develop their recent discovery Agogo in the Block 15/06 offshore Angola on fast-track as a stand alone project as a floating, production, storage and offloading (FPSO) vessel.

Projects front end engineering and design (FEED) is taking the King’s role over engineering, procurement and construction (EPC). FEED is King.

Oil & Gas and Petrochemical market has grown up by 30% in 2017 in respect with the number of projects sanctioned for execution with EPC contracts. This number confirms our last year forecast and gives credit to our estimation of 20% to 35% growth for 2018. This market upturn is driven by a market shift from the IOCs to the NOCs and Independent companies, representing both nearly 80% of the capital expenditure as operator on the next five years. As a results the projects get smaller and run on fast-track requiring more agility from the sales organizations for detection and capture.

Noble and Delek ready to declare Aphrodite viable The US-based company Noble Energy (Noble) and its Israeli partner Delek Group (Delek) are nearing the point to declare the Aphrodite gas field in the Block 12 offshore Cyprus Island in the southeast of the Mediterranean Sea commercially viable. In August 2007, Noble acquired the Block 12 during […]

Statoil and Sinochem add new platform in Peregrino II The state-owned companies Statoil from Norway and Sinochem from China, partnering in the offshore Peregrino field, submitted the plan of development (POD) for its southwest expansion in the Campos Basin to Brazil National agency of Petroleum, Natural Gas and Biofuel (ANP). Despite its 14-degree API heavy […]

Premier Oil and KUFPEC move Bream FPSO to FEED The London-based junior company Premier Oil plc (Premier Oil) and its partners, the national oil company (NOC) Kuwait Foreign Petroleum Exploration Company (KUFPEC) and the other London-headquartered junior company Tullow Oil plc (Tullow) finalized the conceptual study for the development of the offshore Bream and Mackerel […]

Husky to qualify Madura MDA-MBH FPU bidders  Calgary-based Husky Energy (Husky) and its partners, the state-owned China National Offshore Oil Corporation (CNOOC) and the independent Singapore-registered Samudra Energy (Samudra) are proceeding to the qualification of the engineering companies and shipyard to be invited to bid (ITB) for the construction of the floating production unit (FPU) […]

Petrobras Jupiter FPSO to learn from Lula development Petrobras and its partner, Galp Energia (Galp) from Portugal, are expecting to benefit from the lessons learnt in developing the Lula giant offshore pre-salt field to design the floating, processing, storage and offloading (FPSO) vessels to be moored at Jupiter field to operate in similar conditions in […]