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MODEC secures full EPCI contract to deliver FPSO for Hammerhead project
Yahoo Finance· 2025-10-01 11:22
MODEC has secured the full engineering, procurement, construction and installation (EPCI) contract to deliver a floating production, storage and offloading (FPSO) vessel for the Hammerhead development. In April, the offshore contractor was granted a limited notice to proceed (LNTP), allowing it to begin designing the FPSO. This step was aimed at facilitating the earliest possible start-up of the project in 2029, pending necessary government approvals. Phase one of the contract, which focused on front-en ...
BW Offshore: Signs Head of Agreement with Equinor for Bay du Nord FPSO
Globenewswire· 2025-09-01 12:15
Core Viewpoint - BW Offshore has signed a Head of Agreement with Equinor for the Bay du Nord FPSO project, marking a significant step in Canada's first deepwater oil project, which is estimated to hold 400 million barrels of recoverable light crude [1][4]. Group 1: Project Details - The FPSO unit is designed to support production of up to 160,000 barrels of oil per day and will incorporate advanced features such as a disconnectable turret system and extensive winterization [3]. - Emission reduction initiatives will be included in the FPSO's design, such as high-efficiency power generation, heat recovery, variable speed drives, and a closed flare system [3]. - The project will undergo a Front End Engineering Design (FEED) phase, with BW Offshore establishing a local office in Newfoundland to facilitate this process [4]. Group 2: Strategic Importance - This project aligns with BW Offshore's strategy to deliver high-performance offshore solutions and supports the future of energy [5]. - The selection by Equinor reflects confidence in BW Offshore's capabilities and commitment to value creation, safety, and local engagement throughout the project [4].
Petrobras' Buzios Oil Field Reaches Record Production Milestone
ZACKS· 2025-08-21 18:55
Core Insights - Petrobras S.A. has achieved a new production milestone at the Búzios oil field, surpassing 900,000 barrels of oil per day [1][4][11] - The Búzios field is on track to potentially become Brazil's largest oil-producing field by 2025, with production levels approaching those of the Tupi field [2][6] - The field is located at a depth of approximately 2,000 meters and currently operates four platforms and two FPSO units [3] Production Growth - Petrobras has significantly increased output in the first half of the year by bringing more wells online in the Búzios field compared to the previous year [4] - The startup of a fifth well on the FPSO Almirante Tamandaré has contributed to the production increase, with the P-78 unit expected to further boost output [5][11] - The company's strategy focuses on expanding production while reducing costs and streamlining projects, enhancing efficiency [4][6] Sustainability and Energy Security - Petrobras emphasizes its commitment to sustainability and a fair energy transition process while contributing to Brazil's energy security [4][6]
Petrobras Enhances FPSO Safety With Exail's Quadrans AHRS Tech
ZACKS· 2025-07-01 15:16
Core Insights - Petrobras has awarded a contract to Exail for the installation of 30 Quadrans Attitude and Heading Reference Systems (AHRS) on its Floating Production, Storage and Offloading (FPSO) units, enhancing safety and operational efficiency in offshore production [1][9] - The Quadrans AHRS provides high accuracy with a heading accuracy of 0.23° seclat RMS, crucial for real-time decision-making and stability monitoring during complex offshore operations [3][9] - The collaboration with Exail and Mitang reflects Petrobras' commitment to leveraging advanced technology to maintain Brazil's leadership in offshore energy production [5] Technology and Operational Efficiency - The Quadrans units are designed to be robust and maintenance-free, ensuring consistent performance in demanding marine environments and minimizing downtime during power cycles or disruptions [2] - Local technical support from Exail in Brazil ensures seamless integration of the AHRS system, aligning with Petrobras' high operational standards [4][9] Strategic Importance - This initiative is part of Petrobras' broader strategy to enhance offshore capabilities and drive innovation while maintaining high safety and efficiency standards [5] - The deployment of precision navigation tools like Quadrans AHRS is expected to play a vital role in the success of Petrobras' expanding operations in challenging marine environments [5]