TotalEnergies Acquires Stake in Suriname Offshore to Expand Gran Morgu Project
French oil and gas company TotalEnergies has announced the acquisition of a 25% stake in Block 53 on the Surinamese offshore shelf from Spanish company Moeve, Reuters reports. The value of the deal was not disclosed. This transaction strengthens the presence of the French energy giant in one of the …
New Oil Asset in the Arctic
Norway has officially brought one of its most important Arctic energy projects into production. On March 31, 2025, the Johan Castberg oil field in the Barents Sea began operations, marking a major milestone in the country’s strategy to develop Arctic resources and solidify its position as a key energy supplier …
Offshore Oil Production Is Experiencing a New Investment Boom
The global market for equipment for underwater oil production will grow by an average of 10% per year in the period from 2024 to 2027, according to the medium-term forecast of Rystad Energy. The volume of investments in this segment will increase over this period from $32 billion to $42 …
Floating Oil Production System Ready for Operation Offshore Ghana in Project Involving LUKOIL
The floating production, storage and offloading unit (FPSO) acquired for the development of the Pecan field offshore Ghana is ready for operation, although the final investment decision (FID) has not yet been made, Africa Oil+Gas Report (AOGR) reports. According to the publication, the FPSO, acquired from Norway’s Ocean Yield, is …
ExxonMobil Will Continue Development of Whiptail, the Sixth Project in the Stabroek Block Offshore Guyana
ExxonMobil said it has made a final investment decision to proceed with the development of Whiptail, the sixth project in the Stabroek block in Guyana, following receipt of the necessary government and regulatory approvals. The Whiptail project, which will use a FPSO (product storage and offloading vessel), will require an …
ONGC Begins First Oil Production From The Ultra-Challenging Deepwater Block KG-DWN-98/2
Oil and Natural Gas Corp (ONGC) has begun production from the First Oil project in the deepwater block KG-DWN-98/2 on the eastern Indian continental shelf. Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri announced this on January 7, 2024 on his page on the social network X (formerly …
Eni to Continue Operating FPSO Abo Offshore Nigeria
Nigerian Agip Exploration (NAE, a subsidiary of Italy’s Eni) has reached an agreement with BW Offshore to extend the lease of a floating oil and gas production, storage and offloading (FPSO) facility operating in a field off the Nigerian continental shelf. This was reported by the press service of BW …
DNV GL & Bluewater Pilot Test the Value of Hybrid Digital Twin Technology to Enhance FPSO Safety and Operational Costs by Optimizing Inspections
DNV GL and FPSO specialist Bluewater are undertaking a pilot project to use hybrid digital twin technology to predict and analyze fatigue in the hull of an FPSO in the North Sea. The project aims to validate and quantify the benefits of creating a virtual replica of the FPSO to …
Kvaerner: Targets FPSO Market
Kvaerner establishes two new focus areas to grow its operations within both oil and gas projects and in renewable industries. With the new focus areas, the group is aiming for around 40 per cent growth within a few years, compared to revenues in 2018. The company will continue to be …
Rolls-Royce Enhances Role in Brazil Oil & Gas Industry with New Petrobras Contracts Valued at up to $651m
Rolls-Royce, the global power systems company, has been awarded new contracts with a potential value of $651 million by Petrobras, a world leader in deep- and ultra-deep water oil and gas exploration and production, to support its production activities offshore Brazil. Rolls-Royce will supply Petrobras with thirty-two (32) RB211 gas …