|
Post by Blitz on Aug 1, 2022 6:54:33 GMT -5
At US$1.5 billion a piece, Exxon says 10 FPSOs by 2030 remain in play for Guyana By OilNOW - August 1, 2022 oilnow.gy/featured/at-us1-5-billion-a-piece-exxon-says-10-fpsos-by-2030-remain-in-play-for-guyana/By the end of this decade, ExxonMobil envisions up to ten floating production storage and offloading vessels (FPSO) operating offshore Guyana. This is according to the ExxonMobil Guyana President, Alistair Routledge in an article published by Senior Contributor to Forbes, David Blackmon. “Once you find a commercially viable well, you need to invest in the right infrastructure to get the resource safely out of the ground and to market. Right now, we have two floating production, storage and offloading vessels operating offshore – at an estimated cost of more than $1.5 billion a piece; by the end of the decade, we envision up to 10 such production vessels operating offshore,” Routledge is reported as saying. Two developments offshore Guyana are up and running – namely Liza 1 and Liza 2. Combined, the Destiny and Unity FPSO vessels, built and operated by SBM Offshore, are producing around 360,000 barrels of oil a day. In the project pipeline are the Payara and Yellowtail developments set to come on stream by 2023 and 2025, respectively. By 2027, through these four projects, a fifth called Uaru, and at least one more project, oil production in Guyana is expected to ramp up to about 1.2 million barrels daily. If six oil production vessels can take output offshore Guyana to 1.2 million barrels per day, imagine what 10 can do. ExxonMobil plans to drill more than 60 exploration wells offshore Guyana in six years as it looks to unlock billions more of oil-equivalent barrels. 20 billion barrels projected at Guyana’s largest oil block; region is hotbed for investments, analyst says | OilNOW In his Forbes interview, Routledge pointed out that Rystad Energy, the International Monetary Fund (IMF) and other global institutions recognise the importance of Guyana’s oil to the future of global crude supply. Guyana’s crude is low in sulfur, with a low production cost when compared to other developments globally. “The IMF and others project that Guyana will become one of the main contributors to oil supply growth outside [the Organisation of Petroleum Exporting Countries] OPEC by 2025. Since 2015, more than 11% of the conventional oil discovered in the world has been found here — and, keep in mind, many parts of the basin remain unexplored,” Routledge highlighted. Guyana delivered largest oil and gas discovery in 20 years, more to come – Hess | OilNOW He recalled too that offshore operations in this South American nation are anticipated to emit 30% lesser greenhouse gasses by 2027 and what this means for the energy transition. “Current events show how important flexibility will be during the energy transition,” Routledge added. “We need two things at the same time: reduced emissions and a reliable source of energy. ExxonMobil has a role to play in both, and ExxonMobil is increasing production with some of the lowest associated emissions.”
|
|
|
Post by Blitz on Aug 1, 2022 7:34:19 GMT -5
Without these boats, the 'P' in E&P gets really difficult for deepwater offshore production... Singapore’s Keppel chases Petrobras FPSO contracts worth $5.8bn July 29, 2022 brazilenergyinsight.com/2022/07/29/singapores-keppel-chases-petrobras-fpso-contracts-worth-5-8bn/(TW) Keppel Corp might be looking to exit the offshore market, but it is not stopping the company from trying to hook offshore contracts from Petrobras worth up to SGD 8bn ($5.8bn). The Singapore-listed company said Wednesday that it was is in advanced discussions with the Brazil oil major for the P-80 floating production storage and offloading (FPSO) contract, as well as an option for a second FPSO. News of the potential contract wins came as Keppel Offshore & Marine (O&M) reported an interim net profit of SGD 64m reversing the net loss of SGD 44m seen in the first half of 2021. The first six months of 2022 saw Keppel O&M secure SGD 256m of new orders, bringing its net order book to SGD 4.4bn as of the end of June 2022. The company said it had also made good progress with its legacy rigs, having secured about SGD 255 million worth of bareboat charter contracts for four of its legacy jack-ups, with charter periods of three to five years. In late June, it emerged that Keppel could be set to offload three much delayed jack-up drilling rig newbuildings after Borr Drilling, the company behind the original order, said it had signed a binding letter of intent with an unnamed buyer for the sale of the rigs. The buyer agreed to pay a total of $320m for the rigs with the funds used to pay the delivery instalments of the three rigs under construction at Keppel FELS. “Keppel has delivered a set of strong results in the first half of 2022 against a challenging global economic landscape,” said Keppel chief executive Loh Chin Hua. “In an extended inflationary environment, demand for real assets with cash flow, such as those which Keppel develops, operates and manages, will continue to grow, auguring well for the group.” Loh said when the offshore & marine transactions are completed, the new Keppel will be “very different from what we were before”. “With the global energy transition and decarbonization efforts, Keppel is in the right space, at the right time,” he added. Keppel reported an overall net profit of SGD498m for the half year ended 30 June 2022, an increase of 66% over the previous year, underpinned by profitability across all segments
|
|
|
Post by bjspokanimal on Aug 1, 2022 12:28:58 GMT -5
Exxon's anticipated 60 "exploration" wells are a significant minority of all wells that will be drilled. Wells that are drilled to tether to a FPSO are "production" wells that can easily number 6 to 15 wells. Each FPSO would result in such an array of production wells.
There is also the likelihood that upcoming lease auctions will result in other companies besides Exxon, who will also be drilling exploratory wells. Other companies are already drilling in nearby blocks closer to the producing Joe and Jethro wells. Nearby Suriname exploration activity is also part of the region's need for drillships.
|
|
|
Post by Blitz on Aug 5, 2022 9:58:32 GMT -5
You only build these boats if there's a need... Japanese duo Modec and Toyo setting up joint venture for large-scale FPSO projects 8/5/2022 brazilenergyinsight.com/2022/08/05/japanese-duo-modec-and-toyo-setting-up-joint-venture-for-large-scale-fpso-projects/Japanese FPSO operator MODEC and its compatriot EPC company Toyo Engineering Corporation (TOYO) are setting up a joint venture for floating production storage and offloading (FPSO) vessels. As revealed on Friday, the two have executed an agreement for the establishment of a joint venture company for the Engineering, Procurement, Construction and Installation (EPCI) business of FPSO vessels. The establishment of the joint venture company is subject to obtaining official permits and approvals from relevant authorities. For the past 15 years, MODEC has been collaborating with TOYO on the topside EPC scopes for several FPSO projects. Through the establishment of the joint venture company, MODEC and TOYO will further deepen the form of collaboration and jointly strengthen the engineering and project management capabilities in order to carry out the challenging large-scale FPSO projects. The two companies jointly aim to strengthen the technological capabilities and competitiveness in the FPSO industry. The new JV company will be named Offshore Frontier Solutions with a head office in Singapore and a capital of $10 million. MODEC will hold 65 per cent of the JV and TOYO the remaining 35 per cent. Recently, MODEC has seen its new FPSO vessel, Almirante Barroso MV32, set sail from China to Brazil to work in the pre-salt Santos Basin for the country’s energy giant Petrobras. MODEC was responsible for the engineering, procurement, construction, mobilization chartering, and operations of the FPSO, including topsides processing equipment as well as hull and marine systems. Earlier this month, the Japanese company contracted Keppel Shipyard to support the completion of the FPSO for Woodside’s Sangomar project in Senegal.
|
|
|
Post by Blitz on Aug 5, 2022 10:18:07 GMT -5
Shell and BP spending big money in the GoM. And now this... First oil from two major deepwater Gulf of Mexico projects slated for this year PROJECT & TENDERS Premium content - Excerpt: August 4, 2022, by Nermina Kulovic www.offshore-energy.biz/first-oil-from-two-major-deepwater-gulf-of-mexico-projects-slated-for-this-year/The latest updates on two deepwater oil projects in the U.S. Gulf of Mexico – operated by Shell and BP – both of which are, at this time, expected to come online by the end of the year. ###### BP to Ramp up Oil Output, Launch U.S. Gulf Platform Argos in 2022 Sabrina Valle and Arathy Somasekhar May 3, 2022 www.oedigital.com/news/496218-bp-to-ramp-up-oil-output-launch-u-s-gulf-platform-argos-in-2022Argos - Photo credit BP/Yesenia Rodriguez Oil major BP BP.L expects to double crude output from its Thunder Horse project in the U.S. Gulf of Mexico and inaugurate its latest production platform by the end of this year, a company executive said on Monday. The company, which is betting on "lower-carbon, more economical" offshore oil and gas exploration and production in the U.S. Gulf of Mexico, said a lack of oil investment worldwide could lead to oil scarcity. "More Gulf of Mexico oil and gas helps improve emissions globally," Starlee Sykes, BP's Senior Vice President for the Gulf of Mexico and Canada, said at the Offshore Technology Conference (OTC) in Houston. "We will continue to explore for oil, primarily close to current hubs," she added. BP expects to produce about 200,000 barrels per day of oil equivalent by the end of the year, from the current 100,000 boepd at its Thunder Horse project. Gallery: BP's Giant Argos Platform Arrives in Texas BP is also preparing to start this year its fifth-operated platform, Argos, the centerpiece of the company's $9 billion Mad Dog 2 project in the Gulf. The submersible platform is expected to raise BP's oil production in that region by 25%, from 300,000 barrels per day (bpd). Argos arrived in the U.S. Gulf earlier this year after delays caused by logistics during the pandemic and weather events. The executive declined to specify in which quarter production will start. BP in September announced the start-up of Thunder Horse South's phase 2 expansion to increase output at one of the Gulf of Mexico's largest fields, and said a total of eight wells would be drilled to increase oil and gas production to around 400,000 boepd by the mid-2020s. More than 1,800 platforms in the U.S. Gulf of Mexico, the country's primary offshore source of oil and gas, produced 1.7 million bpd of crude in 2021, mostly from deepwater fields, official data showed. BP is looking at natural gas as a "key transition fuel" to move away from crude and other fossil fuels, as well as offshore wind, carbon capture projects, biofuels and hydrogen, the executive said. "If we are going to move to a place where we have less hydrocarbon production, we are going to need all (those) solutions," she said. (Reuters - Reporting by Arathy Somasekhar and Sabrina Valle, writing by Marianna Parraga; Editing by Kirsten Donovan and Barbara Lewis) ###### An example of the funds already invested by greedy oil people that earn grotesque profits... STONES Stones is the world’s deepest oil and gas project, operating in around 2,900 metres (9,500 feet) of water in an ultra-deep area of the US Gulf of Mexico. The project started production in September 2016 from a floating production, storage and offloading (FPSO) facility. The FPSO connects to subsea infrastructure which produces oil and gas from reservoirs nearly 30,000 feet below sea level. Stones is Shell’s second producing field in the Lower Tertiary geologic frontier in the Gulf of Mexico, following Perdido in 2010. Key facts Location: Gulf of Mexico, USA; 320 kilometres (200 miles) south-west of New Orleans, Louisiana Water depth: 2,900 metres (9,500 feet) Interests: Shell 100% owner and operator Field: Stones field, discovered in 2005 Production: An estimated 50,000 barrels of oil equivalent (boe) per day at peak production. Project overview Shell announced the final investment decision to develop the Stones field in May 2013. Work then began to construct the floating production, storage and offloading (FPSO) vessel and subsea infrastructure. The FPSO, called Turritella, set sail from a shipyard in Singapore in October 2015 and arrived in the Gulf of Mexico in January 2016. Development of the Stones field began with two subsea production wells tied back to Turritella. Six further production wells will be added later, as well as a multi-phase system to pump oil and gas from the seabed to the FPSO, increasing recoverable volumes and production rates. All eight wells will ultimately be connected to Turritella. The reservoir depth is around 8,077 metres (26,500 feet) below sea level, and 5,181 metres (17,000 feet) below the mud line. THE WORLD'S DEEPEST OIL AND GAS PROJECT Watch how unprecedented ingenuity and innovation are delivering energy from the Stones field, 2,896 metres (9,500 feet) beneath the US Gulf of Mexico. Read the transcript Technology An FPSO design was chosen to produce oil and gas safely and efficiently from the Stones ultra deep-water field. Tankers transport oil from Turitella to US refineries, while a pipeline transports gas. Stones uses a special type of flexible pipe, known as a steel lazy wave riser, to carry oil and gas to Turritella for processing. Shell pioneered steel lazy wave risers, which have additional buoyancy creating an arched bend in the pipes between the seafloor and the surface. This bend helps to absorb the motion of the FPSO and boosts production performance at extreme depths. The FPSO also features a turret into which fits a disconnectable buoy carrying mooring lines and risers from the well system. The turret and buoy design allows the vessel to turn with the wind during normal weather conditions. If a heavy storm or hurricane approaches, the vessel is able to disconnect from the buoy and sail to safer waters. The Stones project represents the first use of a disconnectable buoy configured with steel lazy wave risers to unlock oil resources in ultra-deep waters. Shell has more than a dozen deep-water FPSOs around the world but Turritella is the first FPSO in use in the Gulf of Mexico.
|
|
|
Post by Blitz on Aug 5, 2022 10:39:53 GMT -5
A continuation of the above post related to Shell and BP starting up new projects in the GoM... to me, a key is the sub $40 breakeven price for oil. And now this... FEATURE: US Gulf of Mexico deepwater activity may increase in 2022 Author Starr Spencer Editor Jim Levesque - Commodity Energy Transition, Natural Gas, Oil www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/122721-feature-us-gulf-of-mexico-deepwater-activity-may-increase-in-2022#:~:text=The%20three%20largest%20projects%20in,%3A%20Khaleesi%2C%20Mormont%20and%20Samurai. HIGHLIGHTS - Mad Dog, Vito are two of biggest 2022 startups - 3 Murphy fields expected online next year - US Gulf oil output to rise to 2 million b/d More deepwater exploration and project sanctions in the US Gulf of Mexico could be in store for the E&P sector during 2022 assuming robust oil prices hold up, according to analysts. The roughly 12 deepwater US Gulf discoveries scored in 2021 could expand by a couple more next year, and several fields that have patiently waited out several years of price volatility may finally be greenlighted, said Sami Yahya, senior energy analyst-supply and production for S&P Global Platts Analytics. "We could potentially see more finds and final investment decisions next year," Yahya said. "US Gulf operators still have a healthy appetite for exploration, particularly as crude prices remain robust." "Near-field exploration [around deepwater production hubs with declining output] will likely continue to be the leading strategy," he said. "[This] not only improves the economic case of new discoveries but can also help accelerate development, given existing infrastructure and the expected short-cycle time for tiebacks." Current US Gulf oil output is 1.769 million b/d, according to the latest Platts Analytics estimates. Output will likely to rise by as much as 125,000 b/d early in 2022 and end the year at 2 million b/d. The three largest projects in the Gulf which are set to come online in 2022 are Shell's Vito field, BP's Mad Dog Phase 2 and three fields operated by Murphy Oil: Khaleesi, Mormont and Samurai. "This is the first time in a while we've seen three new facilities come on in one year," said Mfon Usoro, US Gulf of Mexico upstream analyst for Wood Mackenzie. Mad Dog Phase 2 will also feature a new production hub named Argos with 140,000 b/d of gross oil capacity, and Vito also will sport new output infrastructure that can produce 100,000 boe/d at peak. Debut of King's Quay The three Murphy fields will produce into a new 80,000 b/d production hub known as King's Quay. Khaleesi and Mormont will deliver first oil in H1 2022 and Samurai in H2 2022. The hubs can be later used to accommodate future production from yet undiscovered fields located within a roughly 30-mile radius. Vito was pegged to come online in 2021, but concerns over the pandemic led to Shell postponing its debut. Mad Dog Phase 2's original cost was more than $20 billion, but by simplifying and standardizing its platform design the overall cost was lowered to $9 billion. At its December 2016 sanctioning it was projected to be profitable at around $50/b. Besides the larger projects, a few smaller fields are expected to debut in 2022, all tiebacks or hook-ups to existing infrastructure. Two from privately held Gulf player LLOG Exploration are Taggart, which will tie into the Devil's Tower, and Spruance, which will hook up to the Lobster facility, said Mark Adeosun, senior analyst-offshore for Westwood Global Energy Group. In addition, Shell's Power Nap field, producing 35,000 boe/d of oil at peak, will tie into the major's Olympus platform. "Basically, this is the use of existing facilities ... [and] optimizing facilities, which always drives down development costs as well as breakeven prices," Adeosun said. Besides new field production, several discoveries are expected to be sanctioned in 2022, including Chevron's Ballymore, a field in the emerging Norphlet geologic play off East Louisiana/Mississippi that was pioneered by Shell. Shell's Rydberg field, also in the Norphlet, is also being watched for potential 2022 final investment decision. Sub -$40/b breakevens"I think the reason we're bullish on those projects moving forward, is the economic criteria; they're all sub-$40/b breakeven," Usoro said. "They look healthy enough in today's market to get sanctioned." Two other projects that could get the thumbs-up in 2022 include TotalEnergies' North Platte field, an ultradeep play first discovered in 2012, and LLOG's Leon/Castile fields, although some expect the FID could slip into 2023. In addition, Shell's Blacktip field and a related discovery earlier this month, Blacktip North, could be moved up the development queue, Usoro said. "Shell has made some really material discoveries in the Perdido area," a remote area of the southwest US Gulf, she said. "I wouldn't be surprised to see them moving up the ranking ... post-2022" to be considered for FID. 2021 was also productive for the US Gulf, as several projects operated by majors came online, including the September extension to a major BP field, Thunder Horse South Expansion Phase 2. The project added 25,000 boe/d at peak to the giant Thunder Horse field, one of the largest in the US Gulf, with production capacity of 250,000 b/d of oil and 200,000 Mcf/d of natural gas. A year of tiebacks But mostly it was a year of tiebacks, smaller fields hooked into existing production hubs with dwindling production from the original large field. For instance, Murphy's Calliope tied into BP's Na Kika production facility, and LLOG's Praline tied into Talos Energy's Pompano output hub. Looking ahead, the US Gulf lease sale in November captured more bids as well as more money paid for leases, which could mean more drilling in the next few years, Yahya said. "The operating environment in the US Gulf is arguably the best it has been in a few years," he said. "That is supported by [not only] significantly improved crude prices, but relatively low breakevens at or less than $45-$50/b and the fact that the US Gulf offers some of the lowest carbon emissions out there – which has become an important factor for many global operators." "It's worth noting that the latest offshore lease auction yielded the highest number of total bids since 2019, which is reflective of the still competitive edge the US Gulf provides," Yahya said. US GULF FIELDS EXPECTED ONLINE IN 2022 Field name Owner Volume (boe/d) US Gulf Area LocationTaggart LLOG 10,000 Mississippi Canyon Spruance LLOG 9,000 Ewing Bank Samurai Murphy See note Green Canyon Khaleesi Murphy See note Green Canyon Mormont Murphy See note Green Canyon Mad Dog 2 BP 140,000* Green Canyon Vito Shell 100,000 Mississippi Canyon Power Nap Shell 35,000 Mississippi Canyon *B/d NOTE: Murphy Oil's three fields will produce into the King's Quay facility, which has capacity of 80,000 b/d Source: S&P Global Platts Analytics, companies
|
|
|
Post by Blitz on Aug 5, 2022 17:25:32 GMT -5
‘One Guyana’ FPSO takes SBM Offshore’s order book to record US$31.1B – CEO By OilNOW - August 5, 2022 oilnow.gy/featured/one-guyana-fpso-takes-sbm-offshores-order-book-to-record-us31-1b-ceo/SBM Offshore’s order book hiked to a record-breaking US$31.1 billion when it secured the contract to construct the massive ‘One Guyana’ floater for ExxonMobil’s Yellowtail development. Bruno Chabas, CEO of SBM Offshore This much was told to shareholders by SBM Offshore’s Chief Executive Officer (CEO) Bruno Chabas during the company’s half-year earnings call. Chabas said that SBM Offshore expects to deliver around US$9 billion in net cash flow from its Lease and Operate backlog during the period which gives visibility on cash flow for the next 28 years. SBM Offshore’s market outlook for new floating, production, storage, and offloading (FPSO) vessels remains “positive” as the world requires energy that is not only sustainable but affordable and reliable. ‘One Guyana’ will deliver biggest daily production for new oil nation | OilNOW The ‘One Guyana’ is based on SBM Offshore’s Fast4Ward® program that incorporates the company’s new build, multi-purpose floater hull combined with several standardized topside modules. The vessel is being designed to produce 250,000 barrels of oil per day, with an associated gas treatment capacity of 450 million cubic feet per day and water injection capacity of 300,000 barrels per day. The floater will be spread moored in water depth of about 1,800 meters and will be able to store around two million barrels of crude oil. Already, the hull for the floater has been completed and is sitting in Indonesian waters, waiting to travel to the Keppel shipyard in Singapore for assembly. The project’s turnkey phase is being executed in conjunction with United States engineering and construction company, McDermott, under a special purpose company. In it, SBM Offshore holds 70% and McDermott 30% equity ownership. But the FPSO will be fully owned by SBM offshore. And with the introduction and ramp-up of Yellowtail, production offshore Guyana would peak at 830,000 bpd, barring further optimization work by ExxonMobil. Meanwhile, on the SBM Offshore’s earnings, the company expects full-year core earnings (EBITDA) to land at above US$950 million and revenue to come in at about US$3.2 billion. “Our teams continue to deliver solid results, despite the challenging environment. On our overall project portfolio, strategic mitigating measures against inflation have been proving effective on controlling cost and protecting schedule. The overall profitability of the project portfolio remains robust,” the SBM Offshore CEO said.
|
|
|
Post by Blitz on Aug 6, 2022 6:25:25 GMT -5
MODEC announces JV to compete for “challenging largescale FPSO projects” By OilNOW - August 6, 2022 oilnow.gy/featured/modec-announces-jv-to-compete-for-challenging-largescale-fpso-projects/The MODEC built OSX-3 FPSO is utilized within block BM-C-39 of the Campos Basin, offshore Brazil President and Chief Executive Officer of Modec, Takeshi Kanamori said Friday the company came to an agreement with Toyo Engineering Corporation to establish a joint venture firm for the engineering, procurement and construction and installation (EPC) business of floating production, storage, and offloading (FPSO) vessels. The venture is subject to regulatory approvals. The JV company, which will be called Offshore Frontier Solutions Pte. Ltd., is starting out with its head office in Singapore, and US$10 million in capital. MODEC will own 65% of the company, and TOYO will own the remaining 35% stake. MODEC said TOYO, which boasts a robust track record as a global engineering group, has collaborated with it on the topside engineering, procurement, and construction (EPC) scopes for several FPSO projects. It expects the JV to deepen collaboration to carry out “challenging large-scale FPSO projects.” The two companies also aim to make the FPSO industry more competitive, thereby maximising its technological capabilities. They expect the specific partnership between MODEC and TOYO to demonstrate synergies in the exploration of new technology and product opportunities in growth markets, and in the development of environmentally friendly FPSOs. “As offshore oil and gas development projects increase in scale and move into deeper waters, the durations of the client contracts for FPSOs have become long-term as well as FPSOs have increased in size and complexity,” MODEC said. “As one of the few companies that can address these large-scale FPSO projects, MODEC recognises the importance of enhancement of its engineering and project management capabilities to meet clients’ requirements and expectations.” In the Latin America and Caribbean Region, MODEC and SBM Offshore have brought on new projects for Brazil and Guyana, two producers that will make up a substantial share of the deepwater oil and gas supply market in the years to come. Offshore Brazil, Petrobras had outlined a strategic plan 2022-2026. Already in the implementation stage, the company plans to place 15 FPSOs offshore Brazil. Recently, MODEC completed one of these – Almirante Barroso. The vessel has the capacity to produce 150,000 barrels of oil per day. It is currently on its way to Brazil, with a probable arrival date in October. However, one of the FPSOs expected to produce larger volumes is being handled by SBM Offshore. Almirante Tamandare is designed to produce about 225,000 barrels of oil per day, according to Petrobras’ strategic plan. Offshore Guyana, ExxonMobil is moving to deliver seven FPSOs by 2027, and potentially 10 by the end of the decade. SBM Offshore has been contracted by the US oil major to build and operate four of these vessels so far, with the most recent – One Guyana FPSO for the Yellowtail Development – having the biggest capacity, of around 250,000 barrels of oil per day. Signaling it will aim for higher volumes, ExxonMobil indicated that its fifth project offshore Guyana, the Uaru Development, could produce up to 275,000 barrels of oil per day. The FPSO builder has not yet been named.
|
|
|
Post by Blitz on Aug 17, 2022 5:26:48 GMT -5
New floating production unit being delivered for use offshore Indonesia August 16, 2022 www.worldoil.com/news/2022/8/16/new-floating-production-unit-being-delivered-for-use-offshore-indonesia/Jiangsu Strong Wind Shipyard finished constructing a new floating production unit and it has been delivered to ABS Class. The Trunojoyo 01 FPU is on charter to Indonesian gas company Husky CNOOC Madura Limited from owner PT Timas Oceanstar Indonesia. It will be towed from China to Indonesia for hook-up and installation at the Madura Block gas fields in the Madura Strait offshore East Java, Indonesia. “As the world leader in floating production classification, ABS is proud to be able to use that extensive experience to support this important project. The entire asset, including the topside, was designed and constructed to ABS Class with an emphasis on safety and efficient operations,” said Matt Tremblay, ABS Vice President, Global Offshore. "Strong Wind is a company specializing in offshore engineering and offshore wind power equipment. With its core culture of integrity, sharing, craftsmanship, and drive to grow, Strong Wind provides a solid guarantee for the project to have zero defects with excellent quality to be delivered on schedule," said Strong Wind Commercial Manager Xiao-Ming Xu. ABS is the leading offshore class and the authority on the classification of offshore energy production units. More information is available here.
|
|
|
Post by Blitz on Aug 17, 2022 5:38:03 GMT -5
Pricey FPSOs startle Petrobras as it pursues production ramp-up By OilNOW - August 17, 2022 oilnow.gy/featured/pricey-fpsos-startle-petrobras-as-it-pursues-production-ramp-up/IHS Markit said Brazil’s Petrobras has been making orders for floating production, storage, and offloading (FPSO) vessels at price tags spiked by supply chain disruptions. As Brazil targets an aggressive production ramp-up, it will continue to be faced with higher prices for FPSOs as IHS Markit says this is the new normal. Petrobras ordered a US$2.3 billion P-79 FPSO in June last year, which will be delivered through an engineering, procurement, and construction (EPC) contract by Saipem and South Korea’s DSME. IHS said it marks the return of Petrobras to owning and operating its floaters after a long time of only hiring in lease contracts. The vessel is designed to process 180,000 barrels per day (b/d) of oil and 7.2 million cubic metres of gas per day. IHS noted orders by Petrobras in June of this year, of the P-80 and P-82 FPSOs from Keppel at US$2.98 billion each. Keppel beat out Sembcorp Marine Rigs & Floaters’ offer of US$3.66 billion and US$3.73 billion respectively. These vessels, each with capacity of 225,000 b/d of oil and 12 million cubic meters per day of gas, are scheduled for first oil in 2026 in the Santos Basin. But the highest price tag on a bid came from the Brazilian contractor Ocyan for the FPSO to Sergipe Aguas Profundas (with 120,000 b/d of oil processing and 8 million cubic metres per day for gas exporting), in a Build-Operate-Transfer model. IHS said the contractor proposed a US$4 billion price tag for the EPC of the unit and four years of operation, with conditions pointing to the war between Russia and Ukraine. Petrobras, according to IHS, cancelled the tender in May this year, surprised by the price and conditions. They decided to review the bidding model to understand why so few offers were received of late, with prices so high. IHS pointed out that the two main leasing companies – SBM Offshore and MODEC – have a full backlog of orders for upcoming years, with contract prices increasing significantly. Brazil and Guyana are some of the main producers racking up order books for FPSO builders. A Petrobras strategic plan envisions a total of 15 FPSOs between 2022 and 2026 offshore Brazil. ExxonMobil envisions ten FPSOs offshore Guyana by the end of the decade. In addition to the leasing companies being busy, IHS said many shipyards are running close to capacity. “Capacity, although much tighter now, is still available to Petrobras, but at the right price,” IHS stated.
|
|
|
Post by Blitz on Aug 17, 2022 7:24:39 GMT -5
Pricey FPSOs startle Petrobras as it pursues production ramp-up By OilNOW - August 17, 2022 oilnow.gy/featured/pricey-fpsos-startle-petrobras-as-it-pursues-production-ramp-up/IHS Markit said Brazil’s Petrobras has been making orders for floating production, storage, and offloading (FPSO) vessels at price tags spiked by supply chain disruptions. As Brazil targets an aggressive production ramp-up, it will continue to be faced with higher prices for FPSOs as IHS Markit says this is the new normal. Petrobras ordered a US$2.3 billion P-79 FPSO in June last year, which will be delivered through an engineering, procurement, and construction (EPC) contract by Saipem and South Korea’s DSME. IHS said it marks the return of Petrobras to owning and operating its floaters after a long time of only hiring in lease contracts. The vessel is designed to process 180,000 barrels per day (b/d) of oil and 7.2 million cubic metres of gas per day. IHS noted orders by Petrobras in June of this year, of the P-80 and P-82 FPSOs from Keppel at US$2.98 billion each. Keppel beat out Sembcorp Marine Rigs & Floaters’ offer of US$3.66 billion and US$3.73 billion respectively. These vessels, each with capacity of 225,000 b/d of oil and 12 million cubic meters per day of gas, are scheduled for first oil in 2026 in the Santos Basin. But the highest price tag on a bid came from the Brazilian contractor Ocyan for the FPSO to Sergipe Aguas Profundas (with 120,000 b/d of oil processing and 8 million cubic metres per day for gas exporting), in a Build-Operate-Transfer model. IHS said the contractor proposed a US$4 billion price tag for the EPC of the unit and four years of operation, with conditions pointing to the war between Russia and Ukraine. Petrobras, according to IHS, cancelled the tender in May this year, surprised by the price and conditions. They decided to review the bidding model to understand why so few offers were received of late, with prices so high. IHS pointed out that the two main leasing companies – SBM Offshore and MODEC – have a full backlog of orders for upcoming years, with contract prices increasing significantly. Brazil and Guyana are some of the main producers racking up order books for FPSO builders. A Petrobras strategic plan envisions a total of 15 FPSOs between 2022 and 2026 offshore Brazil. ExxonMobil envisions ten FPSOs offshore Guyana by the end of the decade. In addition to the leasing companies being busy, IHS said many shipyards are running close to capacity. “Capacity, although much tighter now, is still available to Petrobras, but at the right price,” IHS stated. These guys should know about supply chain shortages and increasing costs... Petrobras commissions ninth platform for presalt Búzios Field Aug. 15, 2022 www.offshore-mag.com/regional-reports/latin-america/article/14281295/petrobras-commissions-ninth-platform-for-presalt-bzios-fieldPetrobras has contracted Keppel Shipyard to construct the ninth FPSO for the Búzios Field in the presalt Santos Basin offshore Brazil. Offshore staff RIO DE JANEIRO, Brazil — Petrobras has contracted Keppel Shipyard to construct the ninth FPSO for the Búzios Field in the presalt Santos Basin offshore Brazil. The P-80 will be one of the largest in Brazilian waters, designed to produce up to 225,000 bbl/d of oil, process up to 12 MMcm/d of gas and store more than 1.6 MMbbl of oil. Keppel Offshore & Marine announced Aug. 15 its wholly owned subsidiary, Keppel Shipyard, won an international tender from the Brazilian national oil company for the engineering, procurement and construction of the P-80 FPSO for about $2.9 billion. Petrobras plans 14 interconnected subsea wells, with seven producers and seven injectors. P-80 should enter production in 2026 and will be the 28th system to operate in the presalt basin. It will also be one of the company’s new generation of platforms featuring technologies to reduce CO2 emissions. These include a closed flare system that increases the use of the gas and prevents it from being burned into the atmosphere and a methane gas detection system capable of acting to prevent or mitigate the risk of leaks. In addition, it will be equipped with CO2 capture, use and geological storage technology, designed to combine increased productivity with reduced carbon emissions. Simultaneously with the construction, a digital twin will be developed of P-80, allowing for several remote simulations and virtual operational tests, simulating multiple scenarios in a safe way. By the end of the 2020s, Petrobras expects Búzios to produce about 2 MMboe/d. Four other FPSOs are under construction for the field: Almirante Barroso, Almirante Tamandaré, P-78 and P-79. Petrobras’ partners in the field are CNOOC and CNODC. 08.15.2022
|
|
|
Post by Blitz on Aug 17, 2022 7:29:09 GMT -5
Excerpt: Keppel secures giant Petrobras contract for FPSO at Brazil's largest oil field Deal is the second such contract signed between the two parties for the field 15 August 2022 - By Fabio Palmigiani in Rio de Janeiro www.upstreamonline.com/field-development/keppel-secures-giant-petrobras-contract-for-fpso-at-brazils-largest-oil-field/2-1-1278004 Brazilian oil giant Petrobras has awarded Singapore’s Keppel Shipyard a major contract to supply the P-80 floating production, storage and offloading vessel that will be installed in the Buzios pre-salt field in the Santos basin. The P-80 will be the ninth of 12 planned FPSOs that Petrobras intends to have in operation in Buzios by the end of the decade.Upstream earlier reported that, after a round of negotiations with Petrobras, Keppel agreed to reduce the P-80 FPSO price from US$2.98
|
|
|
Post by Blitz on Aug 25, 2022 10:24:59 GMT -5
New FPSO vessel heading to Brazil equipped with Sulzer pumps 8/25/2022 brazilenergyinsight.com/2022/08/25/new-fpso-vessel-heading-to-brazil-equipped-with-sulzer-pumps/ An increase in demand for oil and gas has hailed the resumption of projects to deliver more FPSO vessels. Recent announcements have included the first round of tenders for equipment destined for the Parque das Baleias (Whale Park) FPSO, a process that has seen the water injection pumps being awarded to Sulzer. Due to be located 77 km offshore from Espirito Santo, Brazil, the Whale Park FPSO will operate in 1,400-m deepwater, processing 100,000 bbl of oil and 5 MMcm/d of natural gas. The project is expected to have a delivery time with first oil on deck targeted by 2024. As the leading supplier of water injection pumps for this application, Sulzer will offer its facilities and expertise to deliver these key assets to the project and meet this timeline. Sulzer will be supplying four packaged pump sets, which include a 9.7-MW motor, the eight-stage HPcp pump and all the auxiliary equipment required for the challenging offshore
|
|
|
Post by Blitz on Aug 25, 2022 10:26:46 GMT -5
Offshore operator rules out new floater for South China Sea oil project CNOOC Ltd opts for upgraded FPSO instead of newbuild for the Enping area 23 August 2022 - By Xu Yihe and Xu Yihe in Singapore www.upstreamonline.com/field-development/offshore-operator-rules-out-new-floater-for-south-china-sea-oil-project/2-1-1282406Chinese offshore operator CNOOC Ltd has changed its mind about building a new floating production, storage and offloading vessel to develop the Enping oil complex in the South China Sea’s Pearl River Mouth basin. Instead, the company has opted to expand the oil processing capacity on an existing floater to handle additional crude produced from the Enping oil complex, which comprises the Enping 15-1, 10-2, 20-5 and 20-4 prospects in water depths of 81 to 98 metres, about 30 kilometres west of the existing Enping 24-2 cluster development.
|
|
|
Post by Blitz on Aug 25, 2022 10:28:13 GMT -5
Online: Keppel and CIMC Raffles sign the FPSO sub-contractPhoto: CIMC RAFFELS Keppel closes deal with Chinese yard for FPSO job Workscope will include certain modules for the FPSO P-80 in addition to the hull and living quarters 25 August 2022 - By Xu Yihe in Singapore www.upstreamonline.com/rigs-and-vessels/keppel-closes-deal-with-chinese-yard-for-fpso-job/2-1-1284111Singapore’s Keppel Offshore & Marine has awarded a sub-contract to China’s CIMC Raffles to fabricate the hull, living quarters and certain modules for a floating production, storage and offloading vessel intended for Petrobras’ Buzios pre-salt field offshore Brazil.
|
|
|
Post by Blitz on Sept 2, 2022 7:48:07 GMT -5
|
|
|
Post by bjspokanimal on Sept 2, 2022 15:49:36 GMT -5
Offshore operator rules out new floater for South China Sea oil project CNOOC Ltd opts for upgraded FPSO instead of newbuild for the Enping area 23 August 2022 - By Xu Yihe and Xu Yihe in Singapore www.upstreamonline.com/field-development/offshore-operator-rules-out-new-floater-for-south-china-sea-oil-project/2-1-1282406Chinese offshore operator CNOOC Ltd has changed its mind about building a new floating production, storage and offloading vessel to develop the Enping oil complex in the South China Sea’s Pearl River Mouth basin. Instead, the company has opted to expand the oil processing capacity on an existing floater to handle additional crude produced from the Enping oil complex, which comprises the Enping 15-1, 10-2, 20-5 and 20-4 prospects in water depths of 81 to 98 metres, about 30 kilometres west of the existing Enping 24-2 cluster development. These kinds of decisions could contribute toward pulling more semi-submersible drilling rigs off the market via conversions, which would tighten the supply of deepwater drilling rigs. Right now, backlogs for FPSO construction are really tight, and the price quotes for new FPSOs are rising accordingly. Conversely, there are plenty of 4th and 5th generation semi-submersibles out there whose value as a conversion to an FPSO is rising relative to their competitive posture vs drillships and 6th and 7th generation semis. Despite all the scrapping over the past 7 years, it's still worth remembering that 2013 and 2014 saw a substantial over-building of new floaters, as the continued existence of stranded rigs will attest to. FPSO conversions would thus be beneficial in multiple ways.
|
|
|
Post by Blitz on Sept 3, 2022 6:07:14 GMT -5
Chinese shipyard DSIC delivers the Anita Garibaldi FPSO to be installed in the Marlim field 9/2/22 brazilenergyinsight.com/2022/09/02/chinese-shipyard-dsic-delivers-the-anita-garibaldi-fpso-to-be-installed-in-the-marlim-field/(PN) The Chinese shipyard Dalian Shipbuilding Industry Offshore (DSIC) held the delivery ceremony for the FPSO Anita Garibaldi, which will be installed in the Marlim field, in the Campos Basin. The platform ship was delivered to Japan’s Modec, which will charter the unit to Petrobras for 25 years. The platform ship is expected to arrive in Brazil at the end of the year for commissioning activities. Production will begin in 2023. As a reminder, the FPSO Anita Garibaldi will be the second unit within the Marlim and Voador Revitalization Project. The project’s first vessel, the FPSO Anna Nery, left China in July and is expected to arrive in Brazil in October. The FPSO Anita Garibaldi will have a capacity of up to 80 thousand barrels per day and 7 million m³ per day of natural gas. The FPSO Anna Nery will be capable of producing 70,000 barrels a day and 4 million m³ of gas a day. The two units will be connected to 75 wells and will allow the extension of production from the fields in the field until 2048. The new systems will allow the expansion of the current production of Marlim and Voador to more than 150 thousand barrels of oil per day.
|
|
|
Post by Blitz on Sept 13, 2022 6:03:21 GMT -5
Chinese shipyard completes FPSO for BP’s Greater Tortue Ahmeyim LNG project September 13, 2022, by Nermina Kulovic www.offshore-energy.biz/chinese-shipyard-completes-fpso-for-bps-greater-tortue-ahmeyim-lng-project/BP’s Tortue FPSO; Photo courtesy of COSCO Chinese shipyard COSCO Shipping Heavy Industry has completed the construction of a floating production storage and offloading (FPSO) vessel for BP’s Greater Tortue Ahmeyim (GTA) LNG project in Mauritania and Senegal. The completion ceremony for BP’s Tortue FPSO was held at the COSCO yard in Qidong, China last week. This was announced by COSCO in a statement last week and also confirmed by Technip Energies in an update shared via its social media channels this week. The GTA project will produce gas from an ultra-deepwater subsea system and mid-water FPSO vessel, which will process the gas, removing heavier hydrocarbon components. The gas will then be transferred to a floating liquefied natural gas (FLNG) facility at a nearshore hub located on the Mauritania and Senegal maritime border. According to COSCO, the completion ceremony for the N999 Tortue FPSO was held last Friday in the presence of executives from BP, Technip Energies, and others. The vessel is 70 meters long, 54 meters wide, and 31.5 meters deep. The designed service life is 30 years and the oil storage capacity is not less than 1.44 million barrels. The living quarters can accommodate 140 people. Completion ceremony for BP’s Tortue FPSO; Photo courtesy of COSCO The construction started in May 2019 and it included the design, procurement, construction and commissioning (EPCC) of the main hull and living quarters and the construction and integration of all topside modules. The key function of the FPSO is to remove water, condensate and reduce impurities in the gas stream before exporting processed gas to the FLNG facility and domestic gas off-take. As recently reported, the GTA project is on track to achieve the first gas in 3Q 2023 despite FPSO delays. The sailaway date was previously expected to be the end of the third quarter but was later moved to be in the fourth quarter. The first LNG is expected at the end of 2023. The initial phase of the Greater Tortue Ahmeyim project is expected to deliver approximately 2.5 mmtpa of natural gas. The partnership is also evaluating potential expansion up to 10 mmtpa in subsequent phases. Phase 2 of the Greater Tortue Ahmeyim LNG project continues to progress and the partnership is working with host governments to evaluate the optimal solution to best utilize the infrastructure associated with Phase 1 of the project. A development decision is planned for the end of the third quarter.
|
|
|
Post by Blitz on Sept 26, 2022 9:03:54 GMT -5
Brazil’s demand for FPSOs is on the rise 9/26/22 brazilenergyinsight.com/2022/09/26/brazils-demand-for-fpsos-is-on-the-rise/(U) Brazil has for decades been the king of the floating production, storage and offloading vessel market, and it should easily retain the crown for years to come as oil companies operating in the South American nation continue to opt for FPSOs to develop their hydrocarbon resources. Petrobras already has dozens of FPSOs spread across the southeastern coast, with many more to be installed in the next few years, but not all future demand will come from the Brazilian state-controlled oil company. Other operators including Equinor, Shell, BW Energy, Karoon Energy, Enauta and Trident Energy are actively chasing new FPSOs to be deployed in Brazil as well. However, being the largest oil and gas acreage holder in Brazil, it is Petrobras that tends to dominate talks and contracting activity, and things are not expected to change anytime soon. By 2026, Petrobras plans to have 14 new FPSOs in operation in Brazil, of which 12 have already been contracted.These include six FPSOs for the giant Buzios pre-salt field, three for the Mero pre-salt field, two for the revitalisation of the Marlim field and one each for the Itapu, Parque das Baleias and Sergipe-Alagoas Deepwater projects. The list features many more FPSO projects in the pipeline after 2026, most of which are still in the early development stages, and shows that Petrobras has no intention to slow down oil and gas production. In August, the company ordered the P-80 FPSO from Singapore’s Keppel Shipyard for $2.9 billion. The floater will be the ninth of 12 units meant to produce in the Buzios field. Petrobras is in negotiations with Keppel and rival Sembcorp Marine for the contracting of the P-82 and P-83 FPSOs, respectively. “We are hearing Petrobras is asking Sembcorp to reduce its price to match the one agreed with Keppel for the P-80,” a well-informed source says. “It appears Petrobras and Keppel are very close to the contracting of the P-82 but talks with Sembcorp might not lead to an award if they do not reach an agreement on the final price.” Sembcorp bid close to $3.7 billion for the P-83 FPSO, a price considered high by Petrobras, another source adds. Petrobras is also scrambling over what to do regarding the P-81 FPSO contract for the Sergipe-Alagoas Deepwater project. Brazilian player Ocyan was the single bidder in the original tender. Sources suggested the company proposed over $4 billion under the build-operate-transfer (BOT) contract offered by Petrobras, which led to its proposal being disqualified by the oil giant. “The price came well above our estimate. As a result we are reassessing the project entirely,” Petrobras production development director Joao Henrique Rittershaussen says. He explains that Petrobras is studying a possible change to the contracting format for the P-81 from BOT to another model, and adds the company may tender soon not for one but two FPSOs which it intends to deploy in the area. Sources are optimistic that Petrobras could launch the tender for both Sergipe-Alagoas Deepwater FPSOs by the end of the year. There are expectations the company could also issue tenders for the Atapu-2 and Sepia-2 FPSOs over the next few months, although sources suggest these may slip to 2023 as Petrobras is still conducting appraisal drilling in both pre-salt fields. To better understand interest and potential challenges faced by suppliers on future FPSO projects, Petrobras launched a front-end engineering and design competition for a new type of unit that can handle production on fields with a high gas-to-oil ratio and contaminants such as carbon dioxide. “Petrobras summoned contractors and their idea is to have a different FPSO design. That is because most of the time Petrobras and its suppliers differ on the approach for a certain given project, which leads to prices coming in above the oil company’s budget,” a source says. Other operators are also chasing contracts to secure FPSOs for work offshore Brazil, although on a much smaller scale. Equinor is due to begin output from the Bacalhau pre-salt field in 2024 and is in talks with Japan’s Modec to contract a second FPSO for the area to produce oil later on. Equinor is also in advance negotiations with Modec for the supply of a large FPSO for the Pao de Acucar, Seat and Gavea pre-salt accumulations in Block BM-C-33 in the Campos basin, expected to begin production in 2027. Shell is due to close soon on the Gato do Mato FPSO with a consortium made up of BW Offshore and Saipem. Enauta chartered a floater with Yinson Holdings for the Atlanta field, and BW Energy plans to deploy the Polvo FPSO for use in the Maromba field. There are also expectations that Karoon Energy will approach the market next year to contract a midsize floater to develop the Neon light-oil discovery. With FPSO demand showing no signs of stopping in Brazil, overcoming supply bottlenecks could pose a challenge, sources say. With local content running on average at 25% for new FPSOs in Brazil, many contractors are turning to local shipyards to build some topside modules and conclude integration work. However, there are only a few Brazilian shipyards able to handle this type of activity now, with BrasFels in Rio de Janeiro state and EBR in Rio Grande do Sul state already packed with assignments. “There is genuine concern about lack of manpower and time to carry out all the expected work that is bound to come,” one source says.
|
|
|
Post by Blitz on Sept 27, 2022 13:42:49 GMT -5
Brazil’s demand for FPSOs is on the rise 9/26/22 brazilenergyinsight.com/2022/09/26/brazils-demand-for-fpsos-is-on-the-rise/(U) Brazil has for decades been the king of the floating production, storage and offloading vessel market, and it should easily retain the crown for years to come as oil companies operating in the South American nation continue to opt for FPSOs to develop their hydrocarbon resources. Petrobras already has dozens of FPSOs spread across the southeastern coast, with many more to be installed in the next few years, but not all future demand will come from the Brazilian state-controlled oil company. Other operators including Equinor, Shell, BW Energy, Karoon Energy, Enauta and Trident Energy are actively chasing new FPSOs to be deployed in Brazil as well. However, being the largest oil and gas acreage holder in Brazil, it is Petrobras that tends to dominate talks and contracting activity, and things are not expected to change anytime soon. By 2026, Petrobras plans to have 14 new FPSOs in operation in Brazil, of which 12 have already been contracted.These include six FPSOs for the giant Buzios pre-salt field, three for the Mero pre-salt field, two for the revitalisation of the Marlim field and one each for the Itapu, Parque das Baleias and Sergipe-Alagoas Deepwater projects. The list features many more FPSO projects in the pipeline after 2026, most of which are still in the early development stages, and shows that Petrobras has no intention to slow down oil and gas production. In August, the company ordered the P-80 FPSO from Singapore’s Keppel Shipyard for $2.9 billion. The floater will be the ninth of 12 units meant to produce in the Buzios field. Petrobras is in negotiations with Keppel and rival Sembcorp Marine for the contracting of the P-82 and P-83 FPSOs, respectively. “We are hearing Petrobras is asking Sembcorp to reduce its price to match the one agreed with Keppel for the P-80,” a well-informed source says. “It appears Petrobras and Keppel are very close to the contracting of the P-82 but talks with Sembcorp might not lead to an award if they do not reach an agreement on the final price.” Sembcorp bid close to $3.7 billion for the P-83 FPSO, a price considered high by Petrobras, another source adds. Petrobras is also scrambling over what to do regarding the P-81 FPSO contract for the Sergipe-Alagoas Deepwater project. Brazilian player Ocyan was the single bidder in the original tender. Sources suggested the company proposed over $4 billion under the build-operate-transfer (BOT) contract offered by Petrobras, which led to its proposal being disqualified by the oil giant. “The price came well above our estimate. As a result we are reassessing the project entirely,” Petrobras production development director Joao Henrique Rittershaussen says. He explains that Petrobras is studying a possible change to the contracting format for the P-81 from BOT to another model, and adds the company may tender soon not for one but two FPSOs which it intends to deploy in the area. Sources are optimistic that Petrobras could launch the tender for both Sergipe-Alagoas Deepwater FPSOs by the end of the year. There are expectations the company could also issue tenders for the Atapu-2 and Sepia-2 FPSOs over the next few months, although sources suggest these may slip to 2023 as Petrobras is still conducting appraisal drilling in both pre-salt fields. To better understand interest and potential challenges faced by suppliers on future FPSO projects, Petrobras launched a front-end engineering and design competition for a new type of unit that can handle production on fields with a high gas-to-oil ratio and contaminants such as carbon dioxide. “Petrobras summoned contractors and their idea is to have a different FPSO design. That is because most of the time Petrobras and its suppliers differ on the approach for a certain given project, which leads to prices coming in above the oil company’s budget,” a source says. Other operators are also chasing contracts to secure FPSOs for work offshore Brazil, although on a much smaller scale. Equinor is due to begin output from the Bacalhau pre-salt field in 2024 and is in talks with Japan’s Modec to contract a second FPSO for the area to produce oil later on. Equinor is also in advance negotiations with Modec for the supply of a large FPSO for the Pao de Acucar, Seat and Gavea pre-salt accumulations in Block BM-C-33 in the Campos basin, expected to begin production in 2027. Shell is due to close soon on the Gato do Mato FPSO with a consortium made up of BW Offshore and Saipem. Enauta chartered a floater with Yinson Holdings for the Atlanta field, and BW Energy plans to deploy the Polvo FPSO for use in the Maromba field. There are also expectations that Karoon Energy will approach the market next year to contract a midsize floater to develop the Neon light-oil discovery. With FPSO demand showing no signs of stopping in Brazil, overcoming supply bottlenecks could pose a challenge, sources say. With local content running on average at 25% for new FPSOs in Brazil, many contractors are turning to local shipyards to build some topside modules and conclude integration work. However, there are only a few Brazilian shipyards able to handle this type of activity now, with BrasFels in Rio de Janeiro state and EBR in Rio Grande do Sul state already packed with assignments. “There is genuine concern about lack of manpower and time to carry out all the expected work that is bound to come,” one source says. Going to need many FPSOs to get to the production levels cited below... Brazil oil production to increase 70% by end of the decade, says minister 9/27/22 brazilenergyinsight.com/2022/09/27/brazil-oil-production-to-increase-70-by-end-of-the-decade-says-minister/(U) The Brazilian government forecasts the country’s oil production will grow 70% by the end of the decade, propelled by multibillion-dollar investments from state-controlled company Petrobras and other operators. Brazil is recovering faster when compared to the world’s largest economies, Mines and Energy Minister Adolfo Sachsida said Monday during the opening ceremony of the Rio Oil & Gas 2022 conference. “Something different is happening in Brazil. We are cutting taxes and undergoing the largest economic revolution since 1990,” said Sachsida, highlighting that gross domestic product is on the rise and inflation is falling. Brazil produced 2.82 million barrels per day of oil in June, according to the latest data from market regulator ANP. Sachsida’s forecast implies output in Brazil will reach 4.8 million bpd by the end of the decade. Petrobras is expected to play a prominent role in achieving this increase, as the company intends to place dozens of floating production, storage and offloading vessels on stream – mainly in the pre-salt province – over the next few years. Sachsida also said Petrobras has already completed the sale of 60% of its planned divestments that are currently in the market, which helped improve competitiveness in Brazil’s oil sector with the entrance of new players. “Production from the sold assets has increased on average 30% with new investments. Prior to that, production was actually declining,” the minister said. Sachsida also called for the environmental licencing process in the northern equatorial margin to move faster, arguing Brazil could be losing one of its biggest opportunities in the area where the Foz do Amazonas, Para-Maranhao, Barreirinhas, Ceara and Potiguar basins are located. “We want more responsibility in the environmental licencing but the answer must come faster. A process cannot be stalled for a decade,” he said. Petrobras intends to resume exploration drilling in the northern equatorial margin in November, provided it secures the environmental license in time.
|
|
|
Post by Blitz on Sept 30, 2022 6:50:28 GMT -5
Looks like the GoM is growing in importance as a source of reliable energy supply. In the last article, I bolded an example of lead times this project is using. And now this... Excerpt due to paywall: Construction launched for LLOG’s deepwater project in Gulf of Mexico PROJECT & TENDERS September 27, 2022, by Nermina Kulovic www.offshore-energy.biz/construction-launched-for-llogs-deepwater-project-in-gulf-of-mexico/After assembling a group of contractors, LLOG has started the works related to the refurbishment of an old production platform for reuse on its new deepwater project in the U.S. Gulf of Mexico. ##### Background info to connect the dots... GoM: LLOG Exploration awards Audubon contract for Salamanca FPS project in the GoM 19 Aug 2022 www.hartenergy.com/exclusives/llog-awards-contract-salamanca-project-us-gulf-mexico-201711Engineering and procurement services project expands Audubon’s offshore experience and growth in GOM Audubon Engineering, a leading provider of engineering, procurement, construction, and fabrication services, has entered into an agreement with LLOG Exploration Offshore to support its Salamanca floating production system (FPS) project in the US Gulf of Mexico. LLOG is acting as project manager for the Salamanca FPS Infra LLC. The scope of work includes detailed design services as well as procurement, vendor equipment management, construction, pre-commissioning, and offshore commissioning support. About the Salamanca FPS Rather than undertaking a new build, LLOG will repurpose the existing Independence Hub facility. This marks the first time in the Gulf of Mexico that an operator will have accomplished such an undertaking for an existing semisubmersible production facility. The project has a significant positive impact on environmental, social, and governance (ESG) due to its reuse of an existing unit rather than abandoning the unit. The project will also reduce emissions by approx. 70% compared to new unit construction. The hull, topside truss, cranes, and lifeboats will be reused with minor modifications. All other topside equipment, including piping, instrumentation, and electrical systems, will be new and fit for purpose. The column-stabilized Salamanca FPS will be located in Block 689 of the Keathley Canyon to tap the Leon and Castile discoveries. Situated at a water depth of approx. 6,400 ft., the deepwater platform will include processing facilities capable to 60,000 BOPD, 25,000 BWPD, and 40 MMSCFD of natural gas. LLOG will obtain ABS A1 notation for the platform to comply with CG-ENG Policy Letter No. 01-13, Alternate Design and Equipment Standard for Floating Offshore Installations. Initial production from the joint development is expected mid-2025. Audubon’s legacy with LLOG Exploration Executed by Audubon’s strong local operating centers in New Orleans and Houston, this contract continues the company’s track record of successfully delivering integrated engineering and technical services for LLOG. 'Our history of partnership with LLOG goes back to 2006. As LLOG has grown from inshore facilities to offshore shelf to deepwater facilities, Audubon has grown with it,' said Ryan Hanemann, president of Audubon Engineering Company. 'We are excited about the opportunity to extend Audubon’s growth in offshore service delivery while helping LLOG achieve its mission of safely exploring and producing energy from the deepwater Gulf of Mexico,' Ryan continued. Source: Audubon ##### LLOG Exploration Offshore will be repurposing the Independence Hub in the U.S. Gulf of Mexico as a floating production system. (Source: Opsorman / Shutterstock.com) DEEPWATER LLOG Awards Contract for Salamanca Project in US Gulf of Mexico LLOG Exploration Offshore and Audubon Engineering Co.'s collaborative efforts will make LLOG's Salamanca project the first repurposed hub in the U.S. Gulf of Mexico. Hart Energy Staff - Fri, 08/19/2022 www.hartenergy.com/exclusives/llog-awards-contract-salamanca-project-us-gulf-mexico-201711Audubon Engineering Co. LP will support LLOG Exploration Offshore LLC's Salamanca floating production system (FPS) project in the U.S. Gulf of Mexico, according to a press release on Aug. 17. Located in Block 689 of the Keathley Canyon, the FPS will be situated in a water depth of approximately 6,400 ft with the ability to tap the Leon and Castile discoveries. Once running, the platform will include facilities capable of processing 60,000 bbl/d of oil, 25,000 bbl/d of water and 40 MMscf/d of natural gas. The engineering, construction, fabrication and technical services provider will supply LLOG with detailed design and procurement services, vendor equipment management, construction, pre-commissioning and offshore commissioning support throughout the duration of the agreement. Initial production is expected to begin in mid-2025.“Our history of partnership with LLOG goes back to 2006. As LLOG has grown from inshore facilities to offshore shelf to deepwater facilities, Audubon has grown with it,” Aubudon president Ryan Hanemann commented in the release. “We are excited about the opportunity to extend Audubon’s growth in offshore service delivery while helping LLOG achieve its mission of safely exploring and producing energy from the deepwater Gulf of Mexico.” Prior to production, LLOG will obtain ABS A1 notation for the platform to comply with CG-ENG Policy Letter No. 01-13, Alternate Design and Equipment Standard for Floating Offshore Installations, the release stated. As acting project manager for the Salamanca FPS, LLOG will repurpose the existing Independence Hub rather than build a new facility – the first time an operator will have accomplished this feat in the Gulf of Mexico. During the renovation, the hull, topside truss, cranes, and lifeboats will be reused with minor modifications, while all other topside equipment will be new and fit-for-purpose, according to the release. Using the existing infrastructure will have a positive ESG impact on the company; the project is also anticipated to reduce emissions by about 70% compared to the construction of a new unit.
|
|
|
Post by Blitz on Sept 30, 2022 6:55:13 GMT -5
Yinson FPSO for Petrobras’ revitalization project reaches Brazilian waters 9/28/22 brazilenergyinsight.com/2022/09/29/yinson-fpso-for-petrobras-revitalization-project-reaches-brazilian-waters/After making a few stops on the way, a floating, production, storage and offloading (FPSO) vessel, destined for Petrobras’ revitalisation project, has arrived in Brazil. Letters of Intent for this FPSO project were awarded to Malaysia’s Yinson in October 2019 by Petrobras. Several months later, the two players entered into definitive contracts and in April 2020, Sumitomo opted to participate in the project with a 25 per cent stake. Come June 2022, Yinson and Sumitomo revealed that they had officially named their newest asset, FPSO Anna Nery, during a naming ceremony held concurrently in Jiangsu, China and Kuala Lumpur, Malaysia. This FPSO left the Cosco Qidong shipyard in China on Friday, 8 July 2022, and embarked on its journey to Brazil with stops planned in Singapore and Mauritius to get supplies and change the crew, prior to reaching Brazillian waters. At the time Petrobras informed that the FPSO was slated to arrive in Brazil in October to undergo the final stage of commissioning and acceptance tests before it starts production at the Petrobras-operated Marlim field, which is scheduled for 2023.In a social media post on Thursday, Yinson confirmed that the FPSO Anna Nery has arrived in Brazil. This vessel is the first of two FPSOs that are part of the Marlim and Voador revitalisation project in the Campos Basin, which is expected to expand the current production of around 30,000 bpd of oil and around 420,000 m³ of gas to more than 150 thousand boepd. The second production unit, which is scheduled to work on this project, is the FPSO Anita Garibaldi. In a bid to extend the production from the field’s deposits until 2048, these two FPSOs are planned to be connected to 75 wells.
With a water injection capacity of 240,000 barrels of water per day and an all-electric concept, the FPSO Anna Nery will be installed around 150 kilometres off the coast of Brazil at a water depth of 930 meters. Expected to work at the field for 25 years, this FPSO will be capable of producing 70,000 barrels of oil and 4 million cubic meters of gas per day.
|
|
|
Post by Blitz on Sept 30, 2022 7:00:27 GMT -5
Playing following the FPSO, it looks like Brazil is serious about increasing the supplies of reliable energy. That's going to take drilling more holes in the sea floor too. And now this... MODEC FPSO Almirante Barroso arrives in Brazil 9/29/22 brazilenergyinsight.com/2022/09/29/modec-fpso-almirante-barroso-arrives-in-brazil/Scheduled to form part of Petrobras’ 5th production module in the Búzios field, the Modec unit will be submitted to Brazilian authorities’ clearance procedures. Afterwards, it will go to the Brasfels shipyard, in Angra dos Reis (RJ), where it will undergo the final commissioning activities. The first oil from the FPSO Almirante Barroso is expected to occur in 2023. The unit was converted at the Cosco Dalian shipyard, in China, having started the trip to Brazil in mid-June. Capable of producing 150,000 bpd of oil and processing 6 million m3/d of gas, the FPSO Almirante Barroso will be the first chartered system of the Búzios project, which already has its own units FPSOs P-74, P-75, P -76 and P-77. Almirante Barroso’s charter contract was signed in 2019. Petrobras has contracted another five FPSOs for the Búzios field, one of which is chartered by SBM – Almirante Tamandaré, scheduled to start operating in 2024 and capable of producing 255,000 bpd of oil – and four of its own – the P-78 and 79, which are being built by the Keppel/Hyundai and Daewoo/Saipem consortia, respectively, with a capacity to produce 180,000 bpd and expected to start operating in 2025, and the P-80 and P-83, designed to produce 225,000 bpd of oil and newly contracted to Keppel Shipyard.
|
|
|
Post by Blitz on Oct 4, 2022 11:27:34 GMT -5
Sembcorp lands major Brazil floater contract for Buzios field Singaporean company will be in charge of supplying the tenth FPSO for the Petrobras-operated pre-salt field 4 October 2022 - By Fabio Palmigiani in Rio de Janeiro www.upstreamonline.com/field-development/sembcorp-lands-major-brazil-floater-contract-for-buzios-field/2-1-1326913Brazilian state-controlled company Petrobras has signed a contract with Singapore’s Sembcorp Marine for the supply of a large floating production, storage and offloading vessel to be deployed in the Buzios field in the Santos basin pre-salt province. The award follows similar engineering, procurement and construction contracts signed in recent weeks between Petrobras and Singaporean compatriot Keppel Shipyard for the delivery of a pair of FPSOs for Buzios. Sembcorp will be in charge of manufacturing and delivering the P-82 FPSO – the tenth of 12 planned floaters Petrobras intends to have on stream in Buzios.
|
|