FPSO

McDermott Awarded Offshore Contract from PTTEP

Retrieved on: 
Wednesday, March 27, 2024
FPSO, Senior, Transport, USD, PTTEP, Precedence diagram method, Engineering

HOUSTON, March 27, 2024 /PRNewswire/ -- McDermott has been awarded a sizeable* offshore transportation, installation and commissioning contract from PTTEP Sabah Oil Limited (PTTEP) for the Kikeh subsea gas lift project, located 75 miles (120 kilometers) northwest of the island of Labuan, offshore Sabah in East Malaysia.

Key Points: 
  • HOUSTON, March 27, 2024 /PRNewswire/ -- McDermott has been awarded a sizeable* offshore transportation, installation and commissioning contract from PTTEP Sabah Oil Limited (PTTEP) for the Kikeh subsea gas lift project, located 75 miles (120 kilometers) northwest of the island of Labuan, offshore Sabah in East Malaysia.
  • Under the scope of the contract, McDermott will remove the existing flexible gas lift riser and perform the installation and commissioning of a new dynamic riser section and flowline comprised of two thermoplastic composite pipe jumpers.
  • Project management and engineering will be executed from Kuala Lumpur, Malaysia, with support from other McDermott offices.
  • *McDermott defines a sizeable contract as between USD $1 million and USD $50 million.

Altera Infrastructure announces strategic divestment of ALP Maritime Services

Retrieved on: 
Friday, March 1, 2024
Investment, Sale, ALP, AHT, Carbon, CCS, FPSO

WESTHILL, United Kingdom, March 01, 2024 (GLOBE NEWSWIRE) -- Altera Infrastructure L.P. (Altera), one of the world’s leading suppliers of infrastructure assets to the offshore energy industry, today announced that they have divested ALP Maritime Group B.V., together with all its subsidiaries (ALP).

Key Points: 
  • WESTHILL, United Kingdom, March 01, 2024 (GLOBE NEWSWIRE) -- Altera Infrastructure L.P. (Altera), one of the world’s leading suppliers of infrastructure assets to the offshore energy industry, today announced that they have divested ALP Maritime Group B.V., together with all its subsidiaries (ALP).
  • The sale of this world class fleet of anchor handling tug (AHT) vessels also offers ALP further development opportunities under new and experienced ownership.
  • Together we have grown ALP to become the market leader in its field, performing over 350 projects while being under the umbrella of Altera.
  • We are sure that these vessels and the crew sailing them will make next owners as proud as they have made us,” said Paul Mulder, CEO of ALP.

VAALCO Energy, Inc. Announces Accretive All Cash Acquisition Expanding Its West African Footprint

Retrieved on: 
Thursday, February 29, 2024
Canadian Natural Resources, Acquisition, CPR, International, CNRL, Stifel, Growth, Svenska Petroleum Exploration AB, Transaction, Evercore, ExxonMobil, Vaalco Energy, History, Water, Presentation, OML, LLP, Hand, G&A, Sales, Effective date, FPSO, Oil

Svenska’s primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa.

Key Points: 
  • Svenska’s primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa.
  • The gross consideration for the Acquisition is $66.5 million, subject to customary closing adjustments, with an effective date of October 1, 2023.
  • Closing of the Acquisition is expected in the second quarter of 2024, with ultimate timing dependent on final receipt of all necessary approvals.
  • VAALCO currently estimates that the net cash due at closing will be in the range of approximately $30 to $40 million, dependent on timing.

SBM Offshore Full Year 2023 Earnings

Retrieved on: 
Thursday, February 29, 2024
Ammonia, Interest, Leg, Associated, Recycling, Webcast, MPF, Angolan, EDF Renewables, Operate, Share repurchase, Hydrogen, SBM Offshore, Electricity, SBM, FPSO, Partnership, MHI, Carbon, Conference, SDG, Lifting, CO2, United, GHG, CFO, Acquisition, Lease, Policy, Q&A, Annual, Motion, Wind

As of December 31, 2023 SBM Offshore outperformed with the actual being 1.18 mmscft/d, which is 17% lower compared with 2022.

Key Points: 
  • As of December 31, 2023 SBM Offshore outperformed with the actual being 1.18 mmscft/d, which is 17% lower compared with 2022.
  • Floating offshore wind – SBM Offshore has installed its first commercial pilot project in floating offshore wind.
  • SBM Offshore has scheduled a conference call together with a webcast, which will be followed by a Q&A session, to discuss the Full Year 2024 Earnings release.
  • SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry.

Kosmos Energy Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, February 26, 2024
Oil, Gas, Energy, BP, Barrel, Growth, Carbon, Odd job, Torture, Water, Webcast, Hook-up, FLNG, Gulf of Mexico, ILX, FPSO, Partnership, Natural gas

Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) announced today its financial and operating results for the fourth quarter of 2023.

Key Points: 
  • Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) announced today its financial and operating results for the fourth quarter of 2023.
  • Total net production(2) in the fourth quarter of 2023 averaged approximately 66,000 boepd representing a ~12% increase compared to the fourth quarter of 2022.
  • The 2023 Ceiba Field and Okume Complex development rig campaign commenced in the fourth quarter of 2023.
  • Kosmos will host a conference call and webcast to discuss fourth quarter 2023 financial and operating results today, February 26, 2024, at 10:00 a.m. Central time (11:00 a.m. Eastern time).

Akastor ASA: DDW Offshore awarded contract extension

Retrieved on: 
Tuesday, January 30, 2024
Emerald, Demobilization, FPSO, DDW

FORNEBU, Norway, Jan. 30, 2024 /PRNewswire/ -- Reference is made to press release dated 27 September 2022 on the contract awarded by Petrofac in Australia to Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") in respect of the vessel Skandi Atlantic.

Key Points: 
  • FORNEBU, Norway, Jan. 30, 2024 /PRNewswire/ -- Reference is made to press release dated 27 September 2022 on the contract awarded by Petrofac in Australia to Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") in respect of the vessel Skandi Atlantic.
  • Petrofac has now awarded DDW Offshore a 9-month extension of the existing contract in Australia whereby Skandi Emerald will replace Skandi Atlantic in March 2024.
  • The contract will last until year-end 2024.
  • After demobilisation in March, Skandi Atlantic will undergo its special survey for class renewal in Singapore and is expected to be available for new contract by end of April 2024.

Akastor ASA: DDW Offshore awarded contract extension

Retrieved on: 
Tuesday, January 30, 2024
Emerald, Demobilization, FPSO, DDW

FORNEBU, Norway, Jan. 30, 2024 /PRNewswire/ -- Reference is made to press release dated 27 September 2022 on the contract awarded by Petrofac in Australia to Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") in respect of the vessel Skandi Atlantic.

Key Points: 
  • FORNEBU, Norway, Jan. 30, 2024 /PRNewswire/ -- Reference is made to press release dated 27 September 2022 on the contract awarded by Petrofac in Australia to Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") in respect of the vessel Skandi Atlantic.
  • Petrofac has now awarded DDW Offshore a 9-month extension of the existing contract in Australia whereby Skandi Emerald will replace Skandi Atlantic in March 2024.
  • The contract will last until year-end 2024.
  • After demobilisation in March, Skandi Atlantic will undergo its special survey for class renewal in Singapore and is expected to be available for new contract by end of April 2024.

SBM Offshore announces CEO departure and succession

Retrieved on: 
Wednesday, January 24, 2024
FPSO, Executive Committee, AGM, Supervisory board, SBM, SBM Offshore, Growth, Management

I am especially proud that SBM Offshore has a leadership team which makes an internal succession possible; I am extremely pleased to hand over my responsibilities to Øivind, who, I am sure, will successfully guide the Company to achieve its ambitious energy transition targets.”

Key Points: 
  • I am especially proud that SBM Offshore has a leadership team which makes an internal succession possible; I am extremely pleased to hand over my responsibilities to Øivind, who, I am sure, will successfully guide the Company to achieve its ambitious energy transition targets.”
    Øivind Tangen joined SBM Offshore 21 years ago.
  • Øivind Tangen said, "It is a great honor to have been selected as the successor to Bruno in the role of CEO and Chair of the Management Board of SBM Offshore.
  • Roeland Baan, Chair of the Supervisory Board, stated, "Bruno’s contribution to SBM Offshore has been outstanding.
  • His extensive experience in all the areas of our core businesses will enable him to be an effective CEO leading SBM Offshore going forward.”
    SBM Offshore designs, builds, installs, and operates offshore floating facilities for the offshore energy industry.

APA Corporation to Acquire Callon Petroleum Company in All-Stock Transaction

Retrieved on: 
Thursday, January 4, 2024
Permian, Chase Bank, Hart–Scott–Rodino Antitrust Improvements Act, APA, Wells Fargo, FPSO, CPE, FEED, Morgan Stanley, Acquisition, LLP, National Association, JPMorgan Chase, RBC Capital Markets, Citigroup, APA Corporation, Fine chemical

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Key Points: 
  • *
    HOUSTON, Jan. 4, 2024 /PRNewswire/ -- APA Corporation ("APA" or the "Company") (NASDAQ: APA) and Callon Petroleum Company ("Callon") (NYSE: CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon's net debt.
  • Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA common stock.
  • APA expects to retire the existing debt at Callon and replace it with APA term loan facilities totaling $2.0 billion.
  • APA and Callon will host a joint conference call on Thursday Jan. 4, 2024, to discuss the transaction at 7:30 a.m. Central (8:30 a.m. Eastern).

APA Corporation to Acquire Callon Petroleum Company in All-Stock Transaction

Retrieved on: 
Thursday, January 4, 2024
Permian, Chase Bank, Hart–Scott–Rodino Antitrust Improvements Act, APA, Wells Fargo, FPSO, CPE, FEED, Morgan Stanley, Acquisition, LLP, National Association, JPMorgan Chase, RBC Capital Markets, Citigroup, APA Corporation, Fine chemical

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Key Points: 
  • *
    HOUSTON, Jan. 04, 2024 (GLOBE NEWSWIRE) --  APA Corporation (“APA” or the “Company”) (NASDAQ: APA) and Callon Petroleum Company (“Callon”) (NYSE: CPE) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt.
  • Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA common stock.
  • APA expects to retire the existing debt at Callon and replace it with APA term loan facilities totaling $2.0 billion.
  • APA and Callon will host a joint conference call on Thursday Jan. 4, 2024, to discuss the transaction at 7:30 a.m. Central (8:30 a.m. Eastern).