FPSO

As construction continues, SBM Offshore secured the $1.14 billion needed to finance work on the vessel. Liza Unity is scheduled for deployment at ExxonMobil's Liza Phase 2 development offshore Guyana.

Amidst a conflict between Vietnam and China over the South China Sea, the Malaysian company’s 10-year deal to supply an FPSO for the Ca Rong Do offshore field is now history. Repsol, the operator of Ca Rong Do, suspended the project last year in the wake of government pressure.

As part of a plan to increase revenue to more than $1 billion by 2023, the engineering and construction company is moving away from large offshore platforms with fixed substructures, saying that it expects to win and execute a series of FPSO projects in the future.

At nearly 3,000 tonnes, the company said its lift of an FPSO module was one of the heaviest land-based crane lifts ever performed. ALE was contracted to lift six modules for Total’s FPSO module integration project in Nigeria.

A report from Rystad Energy shows a near-term boost in the global floating production market, with more than 30 new FPSO projects possibly reaching sanction from 2019 to 2021.

RDS, a KCA Deutag division, and Kavin Engineering and Services entered into a strategic alliance to jointly pursue design and engineering projects across the upstream and midstream oil and gas market. Last month, KCA Deutag agreed to form a joint venture with SOCAR.

New local content regulations could speed up the pace of presalt oil production by more than 21 billion bbl by the mid-2020s. Karoon and Parnaíba Gás Natural are the first companies to apply to change their contract terms. Petrobras, Shell, BP, ExxonMobil, Petrogal, and Anadarko are also interested.

The Turritella FPSO (Fig. 1 above) is the deepest floating production system in the world and presented many challenges to successful execution of the surface host facilities.

The long-term decommissioning of the historic Brent field has necessitated redevelopment of the younger Penguins field in the North Sea, where the UK hopes to see more revival projects in the coming years.

30 years after being discovered in the North Sea, this heavy-oilfield is now flowing.