FPSO – Featured News

Egina FPSO Leaves SHI`s Geoje Shipyard

One of the world’s largest FPSOs, at an initial Contract Price of USD 3 billion, leaves for Nigeria – Gigantic floater boasts 2.3 million barrels of storage capacity and topsides weighing 60,000 ton – Local contents portion in Nigeria remains, delivery in 2018 Samsung Heavy Industries Co., Ltd.(“SHI”) successfully completed Geoje-shipyard portion of the world’s largest sized Egina FPSO. The gigantic floater left for Nigeria on 31th October 2017.   SHI has now fulfilled successful delivery or sail-away of three massive offshore projects as scheduled. Earlier this year Ichthys CPF, world’s largest floating gas processing facility, was delivered in April. Prelude FLNG, world’s largest FLNG, had left Goeje in June.   SHI won the order t...

Daewoo Shipbuilding About to Sign New Offshore Plant Contract

According to industry sources, Daewoo Shipbuilding & Marine Engineering (DSME) is expected to sign a new contract with Norwegian oil company Statoil. Estimated to have a total value of 650 billion won (US$580 million), the contract is to build the hull and living quarter of a floating production, storage and offloading (FPSO) facility. The other two participants in the tender are Hyundai Heavy Industries and Samsung Heavy Industries. The construction of the facility is estimated to take US$1.5 billion in total. The bidding process has been divided into those for the hull and living quarter and the topside. The preferred bidder for the former is scheduled to be selected early next month before that for the latter is selected in the first half of next year. After the facility is built, i...

DSME delivers 4th offshore platform out of 5 due this year

South Korea’s Daewoo Shipbuilding & Marine Engineering Co. (DSME) has successfully delivered its floating production storage and offloading (FPSO) vessel to Japan-based Inpex Corporation on schedule, a move that would help the financially-troubled shipbuilder to be better off this year. According to DSME on Thursday, it has handed over Ichthys FPSO to Japan’s largest oil and gas explorer and producer Inpex that placed the order at about 3 trillion won ($2.7 billion) in 2012. With the sailing away of the latest FPSO, DSME has successfully delivered four out of five offshore platforms due this year. The shipbuilder is expected to deliver one more drill ship on schedule by October. The 336-meter-long and 59-meter-wide Ichthys FPSO weighs 150,000 tons and can store up to 1.2 million barrel...

New Fresh Water Generators for Pionerio de Libra FPSO

Dutch water treatment specialist Hatenboer-Water has supplied three fresh water generators for the Pioneiro de Libra oil production vessel built by Jurong Shipyard Pte Ltd. The order consists of three reverse osmosis type fresh water generators. Two of the generators are topside installations in heavy duty box frames suitable for a hazardous Ex Zone 2 area. The Pioneiro de Libra is operated by OOGTK Libra GmbH & Co KG, a joint venture between Brazil’s Odebrecht Oil & Gas and Teekay Offshore. The reverse osmosis (RO) units desalinate seawater for different applications on board. Two of the generators are installed topside and produce 480 m³ dilution water for the oil separation and stabilisation process. The third water maker is installed in the hull of the FPSO. This particular two...

DEVELOPMENT OF 150TON GRADE WINCH FOR FLOATING CRANE

DEVELOPMENT OF 150TON GRADE WINCH FOR FLOATING CRANE COMPANY : EK HEAVY INDUSTRIES

Chevron Cancels $1.8 Billion FPSO Order at Hyundai Heavy Industries

South Korean shipbuilder Hyunday Heavy Industries confirmed Wednesday that Chevron has cancelled a $1.8 billion (2.1 trillion won) order for a floating production storage offloading (FPSO) destined for Chevron’s Rosebank project in the UK North Sea. “As the process to build the offshore plant has not begun due to delays in Chevron’s final investment decisions, the company won’t suffer any losses from the order cancelation,” an HHI spokesman told Yonhap News. The FPSO would have been permanently moored at the Chevron-operated oil and gas field, located about 80 miles northwest of the Shetland Islands in water depths of approximately 3,600 feet. Hyundai Heavy Industries should have had some indication the contract termination was coming Chevron in late 2015 determined that proven reserves at...

Samsung Heavy Cancels $776.8 mln LNG FPSO Order

South Korean shipbuilder Samsung Heavy Industries (010140.KS) (SHI) has terminated a contract worth a 907.6 billion won ($776.8 million) for the construction of a liquefied natural gas (LNGLF) (LNG) floating production and storage (FPSO) unit the shipbuilder signed with an unnamed European buyer back in January 2009. The South Korean shipbuilder said in a regulatory filing that the order, which came from an unspecified European firm, was cancelled as the firm did not issue a work order by a deadline agreed upon. Under the initial contract signed in January 2009, the floating production, storage and offloading (FPSO) unit was planned to have an annual production capacity of 2.5 million tons and a storage capacity of 210,000-cbm of LNG. The LNG-FPSO was initially expected to produce LNG from...

Floating production market shows signs of recovery

While only a few floating production systems have been ordered this year, Energy Maritime Associates (EMA) says it expects the market to improve next year. In its “4Q 2016 Floating Production Systems Report,” EMA reviewed the market for floating production systems, including FPSOs, FLNGs, FSRUs, TLPs, spars, semis, FSOs, and MOPUs. In 3Q 2016, two more FSRU contracts were awarded, bringing the total this year to four units – all FSRUs. Three of these awards were for speculative newbuild units, while the other was deployment of the LNG regas vessel Excelerate for FSRU service in Abu Dhabi. Chevron awarded a $230-million contract to MISC to convert an FSO to replace the Benchamas Explorer, which has been operating in Thailand since 1999. In addition, three units were delivered: one sem...

Lundin terminates M3nergy FPSO deal

Lundin Petroleum terminated a US$265 million deal with M3nergy Investment for the sale of the Bertam floating production and storage offloading (FPSO) vessel after the Malaysian company failed to secure the required financing. The deal was inked in 22 January with the M3nergy Berhad subsidiary. Meanwhile, at the Bertam field on Block PM307, production is ahead of its forecast at 8600 boe/d, according to Lundin’s Q2 report. The Bertam field has been producing from 11 wells as of mid-October 2015 with one additional well, the A15 well, commencing production in June 2016. The A15 well results were better than prognosed with production being constrained by facilities limitations. Overall field performance is better than prognosed due to better than expected reservoir performance and this outpe...

Oil production starts at third FPSO unit off the shore of Brazil

In July, a third floating production, storage, and offloading (FPSO) unit deployed by NYK for the BM-S-11 consortium through a joint venture company started oil production in a pre-salt area off Brazil, the company said in its press release. This FPSO unit, FPSO Cidade de Saquarema, is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a joint venture company between NYK and theMitsubishi Corporation (51.28 percent; head office: Tokyo; president & CEO: Takehiko Kakiuchi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FPSO. NYK will aim to further advance its expertise in the FPSO business by dispatching technical staff to this project as well as FPSO ...

OneSubsea nets $300mn EPC contract with Woodside

OneSubsea said it has won an engineering, procurement and construction contract worth $300million from Woodside Energy.   The Schlumberger unit will supply six horizontal Spooltree subsea tress, six horizontal trees for the water injection system,six multiphase meters, a high-boost dual pump station with high-voltage motors, umbilical, topside, subsea controls and distribution, intervention and workover control systems, landing string, and installation and commissioning services.   The contract win comes after Woodside and its partner Japan’s Mitsui E&P Australia approved the development of the $1.9 billion Greater Enfield Project in June.   The move will see the pair produce 69 million barrels of oil equivalent from the Laverda Canyon, Norton over Laverda (WA-59-L) and ...

BW Offshore Gets Breathing Space

Global operator of floating production storage and offloading (FPSO) units BW Offshore Limited has received an approval for its long-term financial platform as it aims to secure future liquidity. The company has now received the required consents from all of its lending banks to implement the earlier announced financing plan which would contribute with more than USD 500 million in improved liquidity in the period throughout 2020 and “thereby give the company a significant runway until an expected market recovery.” “The consents are subject to customary conditions precedent, such as the entry into of appropriate documentation, corporate resolutions and the provision of legal opinions as well as the absence of any continuing event of default under the loan facilities,” BW Offshore said. Earl...

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