Following discussions with its joint venture (JV) partner, UK-based Hurricane Energy has decided to give up another licence in the Greater Warwick Area (GWA) on the UK Continental Shelf (UKCS), believing that economic development cannot be carried out within the remaining term of this licence.
UK-headquartered IOG plc is looking forward to a phased increase to double the output at its Saturn Banks Project – Phase 1, located in the UK sector of the North Sea, after restoring the production following modifications to the terminal operated by Perenco (UK) Limited (PUK).
Norwegian maritime technology group Kongsberg Maritime has inked a deal with Malaysian FPSO operator Yinson to deliver electrical and control technologies for a floating, production, storage, and offloading (FPSO) vessel, which will operate for Petrobras off Brazil, upon completion.
Brazilian oil and gas giant Petrobras has revealed its intention to invest $16 billion in the Campos Basin revitalization project, planning to install three new FPSOs and interconnect more than 100 wells over the next five years. The company has also set its sights on investing $5.5 billion in oil and gas extraction activities, hoping to unlock new discoveries in Brazil.
Singapore’s Keppel Offshore & Marine, through its subsidiary Keppel Shipyard, has been awarded contracts worth around S$250 million (about $181 million) from repeat customers for the integration of two floating production storage and offloading (FPSO) vessels.
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