Floating Production – A Growing Segment in Transition
The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…
NH3 FPSO Concept: Floating 'Green' Ammonia Production gets DNV AIP
An industrial-scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from DNV, and the project is now ready to start the Basic Design phase.The NH3 FPSO concept is being developed by Netherlands-based SwitchH2 BV and Norway-based BW Offshore and will be built through conversion of an existing Very Large Crude Carrier (VLCC) or a dedicated newbuild vessel. Receiving power primarily from a wind farm, the unit will produce hydrogen by electrolysis of seawater and nitrogen through the use of an air separation unit…
Floating Offshore Wind: Attention Turns Subsea for Power Transport
From being an ugly duckling, floating offshore wind is now the Cinderella of the offshore renewables world. Attention is now being paid to floating and even subsea substation concepts to help bring this power to shore. Over the past year, expectations around the growth in the floating offshore wind development have grown, significantly. Many are piling into the market, seeing that it could give them a chance to ramp up renewables capacity quickly, with 15MW turbines on the horizon and…
Eni Extends Abo FPSO Contract
BW Offshore, a provider of floating production services to the oil and gas industry, has signed an extension agreement for Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A.The contract is extended until end Q4 2020, with options until Q4 2021, said a press release from the Oslo Stock Exchange listed company.BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs.The company has more than 30 years of production track record, having executed 40 FPSO and FSO projects.
BW Offshore Cleared to Buy Brazil Oilfield
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake."The transaction represents an opportunity for BW to enter and start its activities in the oil and natural gas exploration and production market in Brazil," Cade said in a statement, adding that the transaction "does not lead to competitive concerns."Petrobras informed Cade that the sale is part of its divestment program, while Ch
BW Offshore Approved to Buy Brazil Oilfield from Petrobras, Chevron
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron , according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake."The transaction represents an opportunity for BW to enter and start its activities in the oil and natural gas exploration and production market in Brazil," Cade said in a statement, adding that the transaction "does not lead to competitive concerns."Petrobras informed Cade that the sale is part of its divestment program…
Global FPSO Market to Hit USD30Bln by 2025.
The floating storage and offloading (FSO) vessel market is anticipated to surpass USD 30 billion by 2025, said a study.The FPSO market is set to witness vigorous growth on account of shifting trends toward offshore exploration & production driven by depleting onshore oil & gas reserves, said a market report by GM Insights.Development challenges including excessive costs, material transportation, environmental conditions and decommissioning associated with fixed infrastructures will further shift the industry focus toward the utilization of these vessels as an alternative…
Babcock Wins BW Catcher Contract
Babcock said it has been awarded a four-year framework contract for brownfield fabrication and modification projects on the BW Catcher, a floating production, storage and offloading vessel (FPSO) owned by BW Offshore. The scope of the contract includes engineering, onshore fabrication and offshore modifications on the FPSO.BW Catcher is on a seven year fixed term and 18 years of options contract with Premier Oil and will be deployed to the Catcher field in Central North Sea, UK.BW Catcher achieved first oil late in 2017.
Offshore Mooring to Reach $1.1B by 2021
The global offshore mooring system market stood at US$0.93 bn in 2014 and is predicted to reach US$1.1 bn by 2021.It is predicted to expand at a CAGR of 3.60% from 2015 to 2021, revealed a new Transparency Market Research report.According to the report, the market for offshore mooring systems is propelled by the rising subsea production and exploration and the consistent introduction of technologically advanced products. In addition, factors such as the growing demand for energy and the rise in the prices of gas and oil have also stimulated the growth of the offshore mooring systems market.In addition…
BW Offshore Recycling FSO Belokamenka
The provider of floating production services to the oil and gas industry BW Offshore has signed an agreement to dispose of the FSO Belokamenka for recycling in compliance with the Hong Kong Convention.The Oslo-listed company said in a press release that the FSO Belokamenka is an Ultra Large Crude Carrier (ULCC) of 360,700 deadweight-ton capacity built in Japan in 1980.The vessel is 340.5 meters long, 65 meters wide and has a depth of 31.5 meters. It is flagged and registered in Panama and classed by DNVGL…
Petrobras to Resume Building Its Own Platforms
Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.Petrobras' 2019-2023 business plan, set to be released in December, should include a resumption of platform construction thanks to the company's improving finances, Petrobras' director for production and technology development Hugo Repsold said."We will build platforms independently of who is president…
BW Adolo FPSO Produces First Oil
BW Offshore has announced that first oil from the BW Adolo FPSO was safely achieved on Sunday, 18 months after the initial investment was made in the Dussafu license offshore Gabon."We have achieved first oil from the Dussafu license within budget and on schedule," said Carl K. Arnet, the CEO of BW Offshore. "The execution of the Dussafu project confirms the attractiveness of our model by combining proven resources, a resourceful organisation and access to production assets to achieve…
New Water Booster Pumps for Polvo FPSO
As part of the life extension project for the Polvo Floating production storage and offloading (FPSO) vessel, operator BW Offshore has contracted Norwegian based liquid handling and pump specialist PG Flow Solutions to supply new water booster pumps.PG Flow Solutions said its scope of work includes the engineering, procurement, assembly of pump skid and commissioning of two produced water booster pumps in super duplex materials, with 150kW electrical motors, variable frequency drives and pressurized seal system.“After a couple of challenging years for the Brazilian offshore industry…
Production Floaters Orders Are on the Rebound
Fifteen production floaters were contracted in 2017 – 11 FPSOs, two production semis, a wellhead TLP and an FLNG – and the number of deep water projects in the near-term planning queue indicates production floater orders are set to accelerate. This is a big change from 2016 when orders for new units totally dried up and the deepwater future looked pretty bleak. Here’s a round-up of contracts awarded last year and in January 2018. Tempera FPSO - Keppel in January 2017 received a contract from Dixstone Holdings…
BW Offshore Gets Contract Extension for FPSO Polvo
BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract…
Catcher FPSO to Add about $200 mln in EBITDA/year
BW Offshore CEO Carl Arnet in FPSO (floating production, storage and offloading) firm BW Offshore Ltd says the Catcher field project in the British North Sea will add about $200 mln in annual EBITDA to its results when it comes on stream in December 2017. ** BW is also developing Dussafu field in Gabon.
FPSO Moored at Catcher Field
Premier Oil’s Catcher project remains on pace to achieve first oil before the end of this year with the arrival and hook up of the Floating Production Storage and Offloading (FPSO) vessel BW Catcher last week in the U.K. North Sea. BW Catcher arrived at the Catcher field on October 18, and the hook up of the Submerged Turret Production (STP) buoy mooring system was completed on October 19 with the vessel completing a rotation test around the buoy on October 20, Premier Oil said. Final pull-in of the risers and umbilicals is underway, and commissioning activities have commenced in parallel.
FPSO BW Catcher Sails for the North Sea
BW Offshore’s Floating, Production, Storage and Offloading vessel (FPSO) BW Catcher has left deep water anchorage off the Keppel Shipyard in Singapore and is currently in transit on a 45-day journey to the Catcher field in the central North Sea where it will go to work for Premier Oil. The FPSO is expected to reach U.K. waters early in the fourth quarter, depending on prevailing weather conditions. Upon its arrival, BW Catcher will commence a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil. Carl K.
BW Offshore CEO Sees Signs of Recovery
BW Offshore, which delivers floating production services to the oil and gas industry, sees signs of an improved market. "It's still early days but we definitely see a pick-up in discussions and tendering activity," CEO Carl Arnet said during the firm's first-quarter earnings presentation. Says Brazil will be important but also sees activity elsewhere. BW Offshore reported Q1 earnings below forecast on Monday. Regarding the FPSO Cidade de Sao Mateus, which has been off work since an explosion in February 2015: Insurance settlement gave a positive liquidity effect in Q1.
BW Offshore Prepares Bid for Two Petrobras Projects
* Floating oil production, storage and offloading (FPSO) firm BW Offshore is bidding on contracts for the Libra 1 and Sepia oilfields offshore Brazil * CEO Carl Arnet says expects to deliver tenders to Petrobras on Libra I in December and on Sepia in January * CEO Arnet expects first award in first half 2017 and the second one shortly after * CEO says contract length 21 and 20 years * CEO says will base bids on conversion of the FSO (floating storage offloading) unit Belokamenka, which is currently in lay-up * CEO says aim is to win one of the two contracts * CEO says Brazil likely to
