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Petronas marked an important milestone in the LNG industry in late March by shipping the first cargo from a floating liquefaction unit.
An updated forecast shows a resurgence of FPSO activity in the years ahead as falling project costs and improving market conditions boost optimism for brighter days ahead.
Wärtsilä started 2017 with good news for its maritime activities in Brazil.
A report from U.S.-based Zion Market Research forecasts global FPSO market growth between 2015 and 2021 as oil and gas E&P expands in deepwater, ultradeepwater and offshore fields.
Watch out for the impact of floating LNG (FLNG) storage in 2017 and 2018, particularly during the seasonal “shoulder months,” Genscape advised.
Rising oil prices are boosting hopes that more FPSO units will join the workforce following years of lackluster activity caused mostly by spending cutbacks driven by the downturn.
But a quick turnaround is not expected, considering the long lead time needed for offshore infrastructure.
SBM Offshore’s holiday season brightened with the award of an FPSO contract for ExxonMobil Corp.’s Liza development offshore Guyana, giving a glimmer of hope for the ailing FPSO market sector.
In a joint announcement, NextDecade Global Solutions, a subsidiary of NextDecade LLC, and FLEX LNG revealed that the two companies have signed a heads of agreement (HoA) to create a full-value chain solution for customers looking to purchase LNG from NextDecade’s Rio Grande LNG export project in Brownsville, Texas.
Höegh LNG Holdings Ltd. recently announced that it has signed a letter of intent for one firm and three optional floating, storage and regasification units (FSRUs) at Samsung Heavy Industries (SHI) in South Korea.
Consider the remote offshore oil or gas field with minimal or no infrastructure. What is the best choice? Easy. Most operators would go with an FPSO, which offers storage in the hull and direct off-loading to tankers.
Timsah’s new multipurpose supply vessel, built for hire, will be equipped with a Saab Seaeye Cougar XTi underwater vehicle as a key onboard resource package.
GustoMSC’s new Scylax drillship is primed to enter the mid- to deepwater market as a sophisticated, cost-efficient tool.