A Barrel Fulll Archive

16 February 2023 Perenco has reached Final Investment Decision (FID) for the construction of a Liquefied Natural Gas (LNG) production unit at the Cap Lopez oil Terminal in Gabon.  Today’s news follows the official presentation of the project in Libreville to the Minister of Oil and Gas, and the subsequent technical approval by the Gabonese authorities in December 2022.   The LNG production unit, which involves an investment of more than US$1 billion and a three year construction period, will see the transformation of the Cap Lopez into both an oil and gas terminal. As soon as 2026, Perenco’s investment will facilitate Gabon becoming self sufficient in butane gas (LPG) and an exporter of LNG, with annual production targets of 20,000 tons and 700,000 tons of butane gas and LNG respectively. These volumes will come in addition to the 15,000 tons per year of LPG that will be produced by Perenco in Gabon from its new plant that will enter in production this year.  ...

June 11, 2024  PTTEP acquires a 10% participating interest in the Ghasha Concession , one of the largest natural gas fields in the United Arab Emirates which aims to operate with net zero emissions. This strategic investment will immediately add the company’s petroleum reserves. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that PTTEP MENA Limited, a subsidiary of PTTEP, has signed a Sales and Purchase Agreement (SPA) with Wintershall DeaMiddle East GmbH, a German energy company to buy a 10% participating interest in the Ghasha Concession, a sizable natural gas field offshore Abu Dhabi in the United Arab Emirates (UAE). This transaction has been approved by the relevant regulatory authorities and will add company’s petroleum proved reserves in line with company’s strategic plan. “The acquisition of the Ghasha Concession, a significant natural gas field, marks an important step in strengthening PTTEP’s Mid...

November 10, 2017 Statoil is signing a letter of intent with Sembcorp Marine Rigs & Floaters Pte. Ltd in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea. The contract will be signed at the final investment decision scheduled before Christmas. Covering engineering, procurement and construction the contract has a value of NOK 4 billion. The contract, which was won through international competitive bidding, marks an important milestone for the progress of the Castberg project. There were no Norwegian bids for the contract. “We will be working closely with Sembcorp Marine to ensure safe and efficient delivery based on our requirements for HSE, quality, time and cost. The remaining procurement work will be progressed in parallel with this,” says Statoil’s chief procurement officer, Pål Eitrheim. The construction of the hull is t...

31 January 2025 SBM Offshore confirms it has completed the transactions related to the Share Purchase Agreements announced on September 6, 2024 with its partner MISC Berhad for: the acquisition of MISC Berhad’s entire effective equity interest in the lease and operating entities related to the FPSO Espirito Santo in Brazil; and the full divestment to MISC Berhad of SBM Offshore’s effective equity interest in the lease and operating entities of the FPSO Kikeh in Malaysia. This transaction furthers SBM Offshore’s efforts to rationalize our portfolio to ‘maintain focus and excellence’ of our operations.

14 November 2024 SBM Offshore announces that it has been awarded contracts for the GranMorgu field development project located in Block 58 in Suriname by the Operator, TotalEnergies EP Suriname B.V., an affiliate of TotalEnergies. Under these contracts, SBM Offshore will, in partnership with Technip Energies, construct and install a Floating Production, Storage and Offloading vessel (FPSO) . The award follows completion of front-end engineering and design studies, and the final investment decision on the project by the Joint Venture operated by TotalEnergies EP Suriname B.V. SBM Offshore is expected to operate the unit under an operations and maintenance agreement. The GranMorgu project is the first development within Block 58, circa 150 kilometers offshore Suriname. TotalEnergies is the operator holding a 50 percent interest in Block 58, alongside APA Corporation. Staatsolie has announced its intent to exercise its option to enter the development project with up to 20% interest. The ...

November 14, 2024 Technip Energies (PARIS:TE), in partnership with SBM Offshore, has been awarded a major(1) contract by TotalEnergies for the GranMorgu Floating Production, Storage and Offloading vessel (FPSO) in Suriname. Under this contract, the joint-venture between SBM Offshore and Technip Energies will construct and install a Floating Production, Storage and Offloading vessel (FPSO), leveraging Technip Energies’ expertise in engineering and modularization for the topsides and SBM Offshore’s Fast4Ward® hull. Thanks to the joint expertise of the two companies, the project will be designed to minimize greenhouse gas emissions. It will include an all-electric drive FPSO configuration, with zero routine flaring and full reinjection of associated gas into the reservoirs. There will be an optimized power usage with Waste Heat Recovery Units and optimized water cooling for improved efficiency. A permanent methane detection and monitoring system will be installed relying on a network of ...