FPSO

Oil & Gas

BG Group starts up sixth production in Santos Basin

BG group has achieved first oil from the Cidade de Itaguai floating, production, storage and offloading vessel (FPSO) in the Santos Basin. The company said the FPSO is the sixth unit to start production across the group’s discoveries, offshore Brazil. The vessel will produce from the Iracema North area of the Lula field in the Petrobas-operated S-11 block.

Oil & Gas

Gallery: Quad 204 ‘Glen Lyon’ FPSO under construction in South Korea

These images show the Glen Lyon FPSO (Floating Production Storage and Offloading) vessel under construction in South Korea. The state-of-the-art FPSO will eventually make a journey across the world to work on the £3billion Quad 204 redevelopment project of the Schiehallion and Loyal fields, west of Shetland. Glen Lyon replaces the Schiehallion FPSO, which started producing oil in 1998 and continued doing so for 15 years until operations were suspended for Quad204 subsea work.

Markets

Eni signs agreement with Yinson for FPSO

Malaysian company Yinson has signed an agreement with Eni to supply an FPSO (Floating Production Storage and Offloading) vessel in Ghana. The deal is for a firm charter period of 15 years with five yearly extension options exercisable by Eni Ghana. The FPSO will process oil and gas from the Offshore Cape Three Points (OCTP) block which is located in the Tano Basin.

Markets

Premier downsizes Sea Lion spending but confirms Catcher’s finances ‘robust’

Premier Oil has downsized its spending on the Sea Lion development in the Falkland Islands, the company has announced. The project had originally been earmarked for spending of more than £3billion. However in its interim statement, the company said following a project review, the Sea Lion would now progress to a “smaller development” with an estimated spending of less than £2billion.