Upstream news

TMC has secured a contract from Shanghai Waigaoqiao Shipbuilding Co., Ltd to supply the marine compressed air system to a newbuild FPSO the yard is constructing for SBM Offshore.

Continental Resources reported a net loss of US$185.7 million, or US$0.51 per diluted share, for 1Q20.

Petrobras has discovered oil in the southeast area of the Búzios field and in the pre-salt of the Albacora field.

From June, Saudi Arabia is cutting an extra 1 million bpd, the UAE an extra 100 000 bpd, and Kuwait an extra 80 000 bpd.

The contracts cover the engineering, procurement and construction of seven modules for the gas treatment, gas compression, utilities and flare systems for the FPSO Anna Nery.

The world’s largest crane vessel, Heerema Marine Contractors’ Sleipnir, safely transported the topside module onto the Neptune-operated Gjøa platform in a three-hour operation.

Oil prices started the week with mild losses, as news about renewed outbreak pockets around the world alarmed traders to be cautious on how quickly demand can rebound.

The increase in demand has been triggered by the outbreak of the Covid-19 pandemic.

The solution will aim to minimise safety risks, enhance asset integrity and create potential savings of AUS$$2.8 billion per year for the Australian offshore energy industry.

The letter from Ghana's Energy Minister instructs the companies to begin talks to combine the Sankofa and Afina offshore fields.