BW Offshore Completes Bond Issue
BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo Stock Exchange-listed company said that the settlement of the new bond issue is scheduled for 4 December 2019.The existing NOK bonds have either been repurchased as part of the offering or will be called with settlement mid-January 2020.In combination with the USD 297.4 million convertible bond issue announced on 5 November 2019…
Brazil Okays BW Offshore's Oilfield Buy
Norwegean provider of floating production services to the oil and gas industry BW Offshore has won approval from Brazilian oil regulator ANP for the purchase of the Maromba oilfield, part of the Oslo-listed company's plan to become an operator and not just a supplier of oil services, platforms and ships.The purchase, from Chevron Corp and Petrobras, extends BW's operations in Brazil, where it already has two floating production, storage and offloading (FPSO) units.“We are proud to announce that our subsidiary BW Energy has been approved by the razilian National Agency of Petroleum…
BW Offshore Gets Contract Extension for FPSO Polvo
BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract…
Hopkins Named Managing Director at Harris Pye UK
Nigel Hopkins has been appointed Managing Director of Harris Pye UK Ltd based at the company’s headquarters in Llandow in Wales. He joined Harris Pye on May 1 this year working alongside Dave Hayden, the company’s retiring Managing Director at the Harris Pye UK headquarters in Llandow, South Wales before officially taking over from Dave Hayden on October 1, 2017. Nigel Hopkins started his engineering career in the merchant navy spending 13 years sailing on a variety of vessels including oil tankers…
BW Catcher Sails to North Sea
BW Offshore, a leading global provider of floating production services to the oil and gas industry, announced the sail away of the FPSO BW Catcher. The vessel has left Keppel Shipyard in Singapore and is currently in transit to the Catcher field in the central North Sea. BW Catcher is expected to reach UK waters early in the fourth quarter, depending on prevailing weather conditions. Upon its arrival, BW Catcher will commence a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil.
BW Offshore to get FPSO from Keppe
Keppel Shipyard Ltd (Keppel Shipyard), is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to BW Catcher Limited, a wholly-owned subsidiary of BW Offshore. When completed BW Catcher will be on a 7-year fixed term and 18 years of options contract with Premier Oil and will be deployed to the Catcher Field located in Central North Sea, UK. Keppel Shipyard's work scope on the FPSO include the installation and integration of topside modules. BW Catcher is scheduled for sailaway from the shipyard in the next few months and is on track to achieve its first oil in 2017.
Keppel Secures Marine Projects worth S$120 mln
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has secured four contracts worth a total of about S$120 million from repeat customers. Mr Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said, "We are pleased to secure new orders from long-time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades. The first contract that Keppel Shipyard secured is from BW Catcher Limited…
2016 and Two FPSOs in US GoM: The 20 Year Saga
Peter Lovie’s Chronology of the FPSO’s difficult struggle to viability in the U.S. Gulf of Mexico is a fascinating journey through time and the oil industry itself. 2016 saw the arrival of the second FPSO in the US Gulf of Mexico. Despite the long prominence of the US Gulf of Mexico in pioneering in the offshore world, FPSOs have been curiously slow in arriving despite being the most used floating production system in the rest of the world. Tracing what went on from securing regulatory approval in principle to be able to use FPSOs in GoM…
Miko Magnetic Patches Pioneer New Repair Technique
BW Offshore has successfully used Miko magnetic patches in a pioneering new repair technique that creates significant time and cost savings. When some cracks appeared in hull plating in the engine room of the FPSO Abo operating off the Nigerian coast, the BW Offshore’s engineering project team chose magnetic patches from a Miko Tanker Kit to quickly seal the leak and make the vessel safe and secure. At that point conventional repair techniques would have required the vessel to…
All On board for Norway Night
More than 240 senior executives from the global maritime industry attended the inaugural Norway Night this eveningas part of Singapore Maritime Week. The gathering at The Lantern, Fullerton Bay Hotel was to celebrate the maritime links between the two nations and strengthen this partnership for the future. Guests enjoyed Norwegian seafood and music as they mingled on the rooftop. They included Minister of Transport Lui Tuck Yew and Norway’s Deputy Minister Dilek Ayhan. Norway’s Ambassador to Singapore, Mr Tormod C.
Sixth Victim of Petrobras Explosion Found
A sixth victim of last week's deadly explosion on a Petrobras offshore oil and natural gas production ship has been found, according to a statement on Wednesday from BW Offshore Ltd, which operates the vessel for Brazil's state-run oil company. The body of the Brazilian crew member of the Cidade de Sao Mateus, a floating oil production, storage and offloading (FPSO) ship, was found during a search of the vessel on Tuesday, BW Offshore said. Of the victims, five are Brazilian and another is Indian. Three other Brazilian crew members are still missing nearly a week after the accident.
BW Offshore, Seagull Launch O&G Training
BW Offshore and Seagull Oil & Gas are cooperating to develop training material for the offshore industry. Building on a training relationship stretching back almost two decades, BW Offshore and Seagull are developing new training material to cover BW Offshore’s process and production operations. “This is a great opportunity for Seagull Oil & Gas,” said Morten Aasen, Managing Director, Seagull Oil & Gas. “We have the ambition to offer the most comprehensive training library for the oil & gas industry, and BWO Offshore is an ideal partner for us.
Norwegian Seminar to Focus on Financing, Procurement
The challenges of managing efficient procurement processes and getting the right funding in the shipping and offshore sectors is the topic for a major half day conference in Singapore later this month. Coinciding with the Asia Pacific Maritime (APM) event on March 20, the Norwegian Procurement and Finance seminar is aimed at operators seeking to build vessels, capital goods or services within the shipping and offshore industries, or Norwegian exporters in these fields. The session…
BW Offshore: VLCC Acquired for Future Projects
BW Offshore announced that it has exercised an option to acquire the tanker Blue Opal for $83.4 million from Daewoo Shipbuilding & Marine Engineering (DSME). Blue Opal is a DSME designed and built VLCC (320,000 dwt) from 2012. BW Offshore has performed detailed engineering studies and inspections of the VLCC since Q4 2012, and is currently evaluating several FPSO projects suitable for the vessel.
New FPSO Heading for Station Offshore Brazil
Petrobas's FPSO P-63 has left the Quip/Honório Bicalho shipyard in the city of Rio Grande (RS) after the modules were integrated and the platform commissioned. With a capacity to process 140,000 barrels of oil/day and compress one million m3 of gas /day, the unit is going to the Papa-Terra field in the post-salt Campos Basin, operated by Petrobras (62.5%) in partnership with Chevron (37.5%). The P-63 was converted into an FPSO from the tanker BW Nisa, at the Cosco Shipyard in China. The unit arrived in Brazil in January this year for its final construction stages.
BW Offshore Extend FPSO Nigerian Contracts
BW Offshore has agreed an extension for their FPSO's 'Abo' and ''. The extension for Abo is with Nigerian Agip Exploration Ltd of nine months. and for Sendje Berge with Addax Petroleum Exploration Ltd of three months. These extensions have been agreed to secure operational continuity while joint work to detail longer term programs for investment and production are completed. BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW…
Powerful Tugboats Speeded FPSO Delivery
To reduce the transit time of the large FPSO 'Papa Terra' from the Far East to Brazil, AHT 'Uranus' & AHT 'Janus' were engaged. BW Offshore and their end-client Petrobas called on Alp Maritime Services to advise on what strength bollard pull would be required to reduce the projected delivery voyage time of the new FPSO if undertaken under its own power. Towage engineering performed by Alp indicated that the transit from Singapore to Brazil could be cut with nearly 8-10 days…
Floating Production Expenditure set to Double
Douglas-Westwood forecast that between 2013 and 2017, $91bn will be spent on floating production systems (FPS) – an increase of 100% over the preceding five-year period. A total of 121 floating production units are forecast to be installed – a 37% increase. This growth is driven by multiple factors, such as a larger proportion of newbuilds and conversions compared to redeployments, a greater degree of local content which often results in a higher cost base and general offshore industry cost inflation.
BW Group's 1H Performance Better than Expected
Moody's Investors Service says that operating results of BW Group (Ba2 negative) in 1H 2012 were better than expected, largely because of the higher charter rates achieved by the company for its vessels. "We had expected BW Group's performance to weaken, as many of its vessels were coming off profitable time-charters in 1H and it was increasingly exposed to deteriorating spot-market rates. However, spot rates, especially in the gas carrier segments, either held up or improved," says Vikas Halan, a Moody's Vice President and Senior Analyst.
ABS Elects New Council
At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.
SIS Sets up Home in Brazil
Star Information Systems (SIS) has established a new base in Rio de Janeiro to serve Brazil’s thriving offshore sector. To support the manuever, SIS sent Hans-Kristian Fjaerem, one of the firm’s most experienced consultants, to lead the operation, recruit a local team, and service SIS’ growing portfolio of customers in the region. The pace of economic change in Brazil – now the sixth largest global economy – has been accelerated by the discovery of huge oil and gas reserves in the country’s pre-salt basin, opening up an array of opportunities for national and international offshore operators.
BW Offshore: The Most Advanced FPSOs in Brazil
The abundance of deepwater O&G prospects, combined with the lack of oil transportation infrastructure in Brazil, has increasingly favored FPSOs as a production solution. Petrobras presently has more than 25 FPSOs in operation and this number is expected to double during the next decade. BW Offshore is a leader in FPSOs and FPSO operations. Although it has been quoting for jobs in Brazil for some years, the company finally established a local office in 2008. BW Offshore currently…
MHI LNG-FPSO Approval for Two Tank Types
Mitsubishi Heavy Industries, Ltd. (MHI) completed development related to floating production, storage and offloading units for liquefied natural gas (LNG-FPSO), and has obtained two kinds of approval in principle (AIP) from major international ship classification societies. In tandem with intensified activity in medium- and small-scale offshore gas field development, demand for LNG-FPSOs, a new method of gas production offering movable capability, has been increasing globally.
Keppel Constructs First FPSO for GOM
Keppel Shipyard Limited (Keppel Shipyard) is on track to deliver the first floating production storage and offloading (FPSO) vessel for the US Gulf of Mexico (GoM) to BW Pioneer Ltd, an affiliate of BW Offshore. Named on Oct. 26 at Keppel Shipyard, the vessel BW Pioneer will be turret moored at a water depth of about 2,600 metres – by far the deepest for an FPSO. The FPSO, which is nearing completion, has achieved an impressive safety record of more than four million incident-free man-hours to-date. BW Pioneer has been leased by Petrobras America Inc.