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Oil major ExxonMobil is in the final stages of testing the flash gas compression system on the Liza Destiny FPSO following technical issues and subsequent repairs. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the Liza field offshore Guyana, in January 2021. The... Continue Reading →
Offshore oil and gas drilling is set for a rebound this year following a major 2020 pullback when exploration and production companies deferred many activities due to the pandemic and the collapse in oil prices. Lower lifting and breakeven costs at the most prolific offshore oil regions off Brazil and Guyana are setting the stage for... Continue Reading →
Oil major ExxonMobil is preparing to start up a gas compressor on SBM Offshore’s Liza Destiny FPSO, operating offshore Guyana, this week following a technical issue that started in January 2021. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the Liza field located offshore... Continue Reading →
Annual oil and gas reserves and production by Chinese oil and gas player CNOOC Limited have hit a new record high while costs decreased to a ten-year low. In 2020, CNOOC focused on large and medium-sized oil and gas discoveries and strived to improve the success ratio of exploration. During the year, 16 commercial discoveries... Continue Reading →
(Reuters)The first cargo from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from a production facility off the South American nation's coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday. India has asked refiners to speed up the diversification of imports to cut... Continue Reading →
Norwegian energy intelligence group Rystad Energy expects to see an increase in offshore wells drilled this year and the next one, compared to 2020, when the number was hit by low oil prices and the pandemic. Now, with oil and gas demand recovering supported by vaccinations and OPEC+ supply cuts, Rystad expects offshore drilling activity... Continue Reading →
There has been much talk about natural gas as a transition fuel, primarily in helping to lower emissions and pollution by displacing coal in power generation, but also in complementing intermittent renewables, and targeting the (blue) hydrogen economy in the longer term. Forecasters of energy demand, such as the IEA, tend to project gas demand... Continue Reading →
Norwegian offshore vessel owner DOF has won long-term contracts in the UK and Guyana for three of its platform supply vessels. In the UK, under the contract starting in April, the large PSV Skandi Gamma will work for Ithaca Energy for a period of two years firm. Ithaca will also have two one-year options to... Continue Reading →
Guyana's President Irfaan Ali said on Wednesday that the first phase of the Liza offshore crude project had achieved its intended full production capacity of around 130,000 barrels per day (bpd). Ali told the Guyana Basins Summit that he expected an additional 10 exploration and appraisal wells to be drilled off the South American country's... Continue Reading →
Singapore’s Keppel shipyard has reached a major milestone in the construction of the SBM Offshore-owned Liza Unity FPSO with the completion of the topsides lifting campaign. The China-built Fast4Ward FPSO hull arrived in Singapore in January 2020. In November 2020, Keppel started the topside integration phase on the FPSO. SBM Offshore reported on Tuesday that the topsides lifting campaign... Continue Reading →
Brazil Energy Insight 