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(OE) The Agogo floating, production, storage and offloading (FPSO) unit is ready to set sail from Chinese shipyard to Azule Energy’s development offshore Angola. Yinson Production has officially named the Agogo FPSO at a grand naming and sail away ceremony held at Cosco Shipping Heavy Industry (Shanghai) shipyard in Shanghai, China. The vessel is now... Continue Reading →
(offshore-energy.biz) UK-headquartered and AIM-listed company Afentra has confirmed that hydrocarbon production from a block off the coast of Angola has been offset by a growth in reserves based on the latest Competent Person’s Report (CPR) for Block 3/05, conducted by ERC Equipoise (ERCE). Following its entrance into Angola in May 2023, the company disclosed a sale and purchase agreement (SPA)... Continue Reading →
(OE) Floating production solutions specialist Amplus Energy Services has signed an agreement with Altera Infrastructure to acquire the Petrojarl I floating production storage and offloading (FPSO) unit, which recently completed its deployment at Petrobras’ Atlanta field offshore Brazil. The acquisition marks Amplus' initial vessel ownership, positioning the company to expand this strategy and meet growing... Continue Reading →
(Reuters) Brazil's Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday. The Brazilian state energy firm is in talks with companies, including existing partners ExxonMobi, Shell and TotalEnergies, to buy... Continue Reading →
(offshore-energy.biz) U.S.-headquartered energy technology giant Baker Hughes has launched an all-electric subsea production system, marking a step towards full electrification in offshore operations. According to Baker Hughes, the system delivers a fully electric topside-to-downhole solution, designed to integrate with existing subsea tree designs or retrofit electro-hydraulic trees. The move aims to slash costs, installation time,... Continue Reading →
(Reuters) Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data. The No. 1 U.S. oil producer reported total earnings of... Continue Reading →
(offshore-energy.biz) A jack-up rig owned by offshore drilling contractor Valaris is en route to Angola for a drilling contract it secured last year, following preparations in Texas. According to Valaris, after completing a project at the Kiewit Shipyard in Corpus Christi, Texas, the VALARIS 144 rig has embarked on a voyage to Angola for its... Continue Reading →
(offshore-energy.biz) With a backlog of $33 billion and sustainability at the heart of its strategy to future-proof its floating production units, the Netherlands-headquartered SBM Offshore is expecting to see a new batch of 40 floating production, storage, and offloading (FPSO) opportunities in the next three years, out of which around 16 are anticipated to be... Continue Reading →
(OE) Australian oil and gas company Red Sky Energy has signed a risk service contract with the Angolan National Agency for Oil, Gas and Biofuels (ANPG), acquiring 35% interest in Sonangol-operated Block 6/24 in the Kwanza Basin, offshore Angola. Sonangol E&P is the operator of the Block with a 50% participating interest. Red Sky Energy... Continue Reading →
(offshore-energy.biz) The global offshore energy industry’s floating production solutions have come a long way from their humble beginnings and seem to be poised to continue their evolution driven by the need to tap deeper into challenging offshore environments buttressed by growing energy demand, rising security of supply concerns, and increasing climate change prompts to pivot... Continue Reading →
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