Thursday, June 1, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Market

Rystad: FPSO Contract Awards to Rebound in 2021 after Poor 2020

July 9, 2020
in Market
Rystad: FPSO Contract Awards to Rebound in 2021 after Poor 2020
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Norway-based energy intelligence firm Rystad Energy said Tuesday it didn’t expect any new FPSO orders this year, however, it expects the situation will improve next year when it foresees seven new FPSO to be ordered.

“Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets and activity. Similar to the previous downturn, awards are set to recover next year, with seven projects likely to be sanctioned,” the company said.

Rystad said that Modec won the only contract so far awarded in 2020, to deliver a new-built FPSO for Woodside’s Sangomar development in Senegal. 

The vessel, which will be the first FPSO to operate in Senegal, will be supplied on a turnkey basis and feature topsides capable of handling 100,000 barrels per day (bpd) of oil and 130 million cubic feet per day (cfd) of gas. Rystad Energy estimates that the total greenfield capex for Sangomar phase 1 will be around $4.2 billion.

Worth noting, Malaysia’s Yinson and Brazil’s Petrobras signed in March the firm contract for the Marlim 2 (Anna Nery) FPSO, however, Rystad’s graphs (below) shows this order as signed in 2019, possibly because the letter of intent was signed in 2019, and thus the FPSO deemed to have been awarded last year and not in 2020.

No new orders in 2020

“For the remainder of 2020, we don’t expect to see any new FPSO contracts being awarded. Over the last 10 years, only 2016 saw a lower level of activity when not a single FPSO contract was awarded. However, from 2016 activity quickly rebounded with 27 awards in the three-year period from 2017 to 2019.”

“This time too, we expect to see a speedy comeback in FPSO sanctioning with seven projects expected next year, including Bacalhau and Mero 3 in Brazil and Payara (Prosperity) in Guyana,” says Aleksander Erstad, an energy research analyst in Rystad Energy.

While Rystad doesn’t expect any new awards this year, Reuters on Wednesday said that Petrobras was preparing to launch a tender to build Brazil’s largest-ever FPSO able to process 225,000 barrels per day, and targeted for deployment at the Buzios field.

Per Reuters, Petrobras plans to launch the leasing tender for the  FPSO by the end of August, and the competition for the FPSO is expected to take several months



Read More: Rystad: FPSO Contract Awards to Rebound in 2021 after Poor 2020

Tags: AwardsContractFPSOPoorREBOUNDRystad

Related Posts

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field
Middle East

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

by Oil Market
July 31, 2020
0

China National Petroleum Corp. is in talks to acquire part of BP Plc’s stake in a key gas field...

Read more
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact
Russia

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

by Oil Market
July 31, 2020
0

Global Ginger Essential Oil Extract Market Size, Status and Forecast 2020-2026 now available with Magnifier Research shows a compilation...

Read more
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact
Russia

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

by Oil Market
July 31, 2020
0

Global Ginger Essential Oil Extract Market Size, Status and Forecast 2020-2026 now available with Magnifier Research shows a compilation...

Read more
Construction of Dangote oil refinery Africa’s largest nears completion
Africa

Construction of Dangote oil refinery Africa’s largest nears completion

by Oil Market
July 31, 2020
0

Dangote oil Refinery, which is expected to be Africa’s largest oil refinery and the world’s biggest single-train facility upon...

Read more
Oil rises further from 3-week lows, but headwinds loom amid pandemic
Europe

Oil rises further from 3-week lows, but headwinds loom amid pandemic

by Oil Market
July 31, 2020
0

TOKYO (Reuters) - Oil prices recovered further ground on Friday, after touching three-week lows in the previous session, responding...

Read more
TC Energy says new U.S. permit to boost Keystone pipeline oil exports by
US

TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

by Oil Market
July 31, 2020
0

The CEO of TC Energy Corp. says the company will begin moving more oil from Western Canada into the...

Read more
Next Post

3 Oil & Gas Stocks to Add to Your Long-Term Portfolio

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Covid-19 and the oil price slump in Africa: which countries will fare

Covid-19 and the oil price slump in Africa: which countries will fare

3 years ago
Ex-Unaoil manager Sentenced to Three Years in Prison over Iraq Bribery

Ex-Unaoil manager Sentenced to Three Years in Prison over Iraq Bribery

3 years ago
DAILY OIL PRICE: July 28

DAILY OIL PRICE: July 28

3 years ago
Global Oil and Gas Upstream Activities Market Expected to Reach Highest

Global Oil and Gas Upstream Activities Market Expected to Reach Highest

3 years ago
Menthol Essential Oil Market Growth by Top Companies, Trends by Types and

Menthol Essential Oil Market Growth by Top Companies, Trends by Types and

3 years ago
Babassu Oil Market Analysis By Distribution Channel , Region And Forecast

Babassu Oil Market Analysis By Distribution Channel , Region And Forecast

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com