SBM Offshore has announced that it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee […]

On the northeastern coastline of South America, Guyana is the location of one of the most significant oil discoveries in the past decade. Using industry-leading technology, ExxonMobil is working to develop, reliably produce and deliver energy resources from these discoveries to the global market. And, the Liza Unity floating production storage and offloading vessel, where […]

Woodside and Armada Balnaves Pte Ltd (Bumi) a Malaysia-based international offshore oilfield services provider  have been engaged in the Western Australian Supreme Court proceedings brought by Bumi (Armada Balnaves Pte Ltd v Woodside Julimar Pty Ltd CIV/1408/2016) with respect to Woodside’s termination in March 2016 of the services agreement for the Armada Claire FPSO.  The […]

Yinson has revealed that the FPSO Anna Nery project is still on track with over 10.5 million manhours without any Lost Time Injuries (LTIs) thus far. Upon completion of repair and life extension works at CoscoChangxing, the vessel has recently moved to CoscoQidong where topside module integration and testing have commenced.  Despite the challenges brought […]

SBM Offshore has announced it has completed the project financing of FPSO Prosperity for a total of US$1.05 billion. The project financing was secured by a consortium of 11 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The […]

ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), today announced the acquisition of two additional Very Large Crude Carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight.  The VLCC fleet expansion plays a significant role in supporting […]

The blockade caused by the grounding of a large container ship in Egypt’s Suez Canal — halting marine traffic through one of the busiest and most important waterways in the world — could have a major impact on the liquefied natural gas (LNG) market if prolonged, according to an analyst at Wood Mackenzie. The ship, called Ever Given, ran […]

SBM Offshore has announced that it has signed a Letter of Intent (LOI) together with Petróleo Brasileiro S.A. (Petrobras) for a 26.25 years lease and operate contract for the FPSO Almirante Tamandaré, to be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore Rio de Janeiro in Brazil. Under the contract, SBM […]

AqualisBraemar’s ports & harbour unit has successfully completed its two-year involvement with the development of Sub-Saharan Africa’s first floating LNG import terminal.  The LNG terminal, located in Ghana, recently received a Floating Regasification Unit (FRU) that will shortly enable it to offer services to LNG carriers. Tema LNG Terminal Company, (TLTC), established by Helios Investment […]

On 21st January, Damen Shipyards Group’s revolutionary Fast Crew Supplier (FCS) 7011  was launched into the water at Damen Shipyards Antalya,  Turkey. The vessel, hailed as a quantum leap forward in marine access solutions, is the result of close market consultation. To meet the needs of an offshore industry faced with consistently low oil prices, Damen has […]