Floating production systems
Marking a major milestone as the Gulf of Mexico’s second 20,000-psi deepwater development, the project underscores how advanced high-pressure technology, management of flow challenges, and the floating production system’s role as a regional hub are helping open the door to more Inboard Wilcox development.
Despite a 2.8% drop in liquefied natural gas exports in 2025 because of lost market share in China, Australia anticipates a 2026 rebound as new North West Shelf capacity comes online. Meanwhile, East Coast operators brace for a tsunami of wells entering the decommissioning pipeline and potential energy shortfalls necessitating LNG imports.
Woodside’s $12-billion gas project offshore Western Australia is expected to produce up to 8 mtpa once it’s complete.
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The Japanese company ratcheted up the competitive nature of contracting for a floating production, storage, and offloading vessel and an onshore liquefied natural gas plant for the Abadi project by announcing dual front-end engineering design (FEED) contracts. -
Deepwater Yellowtail project, onstream 4 months ahead of schedule, is expected to produce an average of 250,000 BOPD.
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BP called the Bumerangue discovery in the Santos Basin the company’s largest find in 25 years, and announced it had begun production from its tieback project at Argos ahead of schedule.
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As LNG projects sanctioned earlier this decade come onstream, a shortage of new final and pre-final investment decisions threatens to leave the project pipelines dry at a time when global LNG demand is forecast to surge over the next 15 years.
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The Begonia and CLOV Phase 3 subsea tiebacks are each sending production to nearby FPSOs.
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The new vessel, P-78, will be deployed on the Buzios field in the Santos Basin offshore Brazil.
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Shell became the first international company to operate producing fields offshore Brazil and the first to navigate the country’s complex and detailed decommissioning permitting process, which involved extensive environmental assessments, regulatory approvals, and coordinated stakeholder engagement.
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Technical safety standards are essential as global offshore exploration heats up.
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The field, which holds the first production license on the Norwegian Continental Shelf, sent oil to the Jotun FPSO on 23 June.
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Less than 3 months after going onstream, the Barents Sea project, the northernmost production offshore Norway, is producing 220,000 B/D.
