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#1
SBM Offshore / SBM Offshore Orders Two More F...
Last post by Administrator - May 31, 2026, 08:56 AMSBM Offshore Orders Two More Fast4Ward® Hulls and What Does This Signal for the Future FPSO Market?
SBM Offshore has revealed a major vote of confidence in the offshore energy sector by ordering two additional Fast4Ward® Multi-Purpose Floater (MPF) hulls, further expanding its industry-leading standardized FPSO program. The move comes as global demand for large-scale deepwater developments continues to accelerate, particularly for projects requiring increasingly complex gas processing capabilities.
The company reported that its turnkey portfolio remains on a strong growth trajectory, with three major projects currently under construction and advancing according to schedule. SBM Offshore credits much of this momentum to its Fast4Ward® strategy, which combines pre-engineered hulls with an integrated lifecycle execution model designed to shorten delivery times, reduce project risk, and improve cost certainty for operators.
A key driver behind the latest hull orders appears to be a rapidly strengthening FPSO tendering pipeline. In Guyana, SBM Offshore recently secured Front-End Engineering and Design (FEED) contracts for the Longtail development. If approved, the project could lead to the deployment of what may become the highest gas-handling-capacity FPSO ever built, highlighting the growing importance of gas monetization in future offshore developments.
At the same time, SBM Offshore remains actively engaged in competitive bidding for two FPSO projects in Brazil's Sergipe-Alagoas Basin. Both developments are expected to feature significant gas processing infrastructure, reinforcing a broader industry trend toward larger and more technically advanced floating production systems.
Against this backdrop, SBM Offshore's decision to order two new Fast4Ward® hulls suggests management sees sustained demand extending well beyond the current project cycle. The company now has four new-build hulls in its future project inventory, with one already earmarked for the potential Longtail FPSO in Guyana.
Is SBM Offshore Preparing for a New FPSO Supercycle?
The timing of these additional hull orders raises several questions for the offshore industry:
Beyond FPSOs, SBM Offshore also indicated that it is evaluating a replacement for its joint-venture installation vessel later this decade. Such an investment would strengthen the company's ability to maintain a full Engineering, Procurement, Construction, Installation and Operations (EPCIO) offering and support long-term growth across both FPSO and broader offshore infrastructure markets.
With Guyana continuing to expand, Brazil's offshore developments moving forward, and new deepwater opportunities emerging globally, SBM Offshore's latest Fast4Ward® hull commitment could be one of the clearest indicators yet that the company anticipates a strong FPSO market for years to come.
Some pointers worth pondering about
SBM Offshore has revealed a major vote of confidence in the offshore energy sector by ordering two additional Fast4Ward® Multi-Purpose Floater (MPF) hulls, further expanding its industry-leading standardized FPSO program. The move comes as global demand for large-scale deepwater developments continues to accelerate, particularly for projects requiring increasingly complex gas processing capabilities.
The company reported that its turnkey portfolio remains on a strong growth trajectory, with three major projects currently under construction and advancing according to schedule. SBM Offshore credits much of this momentum to its Fast4Ward® strategy, which combines pre-engineered hulls with an integrated lifecycle execution model designed to shorten delivery times, reduce project risk, and improve cost certainty for operators.
A key driver behind the latest hull orders appears to be a rapidly strengthening FPSO tendering pipeline. In Guyana, SBM Offshore recently secured Front-End Engineering and Design (FEED) contracts for the Longtail development. If approved, the project could lead to the deployment of what may become the highest gas-handling-capacity FPSO ever built, highlighting the growing importance of gas monetization in future offshore developments.
At the same time, SBM Offshore remains actively engaged in competitive bidding for two FPSO projects in Brazil's Sergipe-Alagoas Basin. Both developments are expected to feature significant gas processing infrastructure, reinforcing a broader industry trend toward larger and more technically advanced floating production systems.
Against this backdrop, SBM Offshore's decision to order two new Fast4Ward® hulls suggests management sees sustained demand extending well beyond the current project cycle. The company now has four new-build hulls in its future project inventory, with one already earmarked for the potential Longtail FPSO in Guyana.
Is SBM Offshore Preparing for a New FPSO Supercycle?
The timing of these additional hull orders raises several questions for the offshore industry:
- Does SBM Offshore expect a new wave of FPSO sanctions across Guyana, Brazil, Namibia, and other emerging deepwater regions?
- Could increasing gas-processing requirements create a competitive advantage for companies with standardized hull programs like Fast4Ward®?
- Is SBM positioning itself to secure market share before rivals can expand capacity?
- Will the growing backlog eventually create supply constraints for FPSO hull construction and offshore installation resources?
Beyond FPSOs, SBM Offshore also indicated that it is evaluating a replacement for its joint-venture installation vessel later this decade. Such an investment would strengthen the company's ability to maintain a full Engineering, Procurement, Construction, Installation and Operations (EPCIO) offering and support long-term growth across both FPSO and broader offshore infrastructure markets.
With Guyana continuing to expand, Brazil's offshore developments moving forward, and new deepwater opportunities emerging globally, SBM Offshore's latest Fast4Ward® hull commitment could be one of the clearest indicators yet that the company anticipates a strong FPSO market for years to come.
Some pointers worth pondering about
- Why does SBM Offshore orders additional Fast4Ward® hulls before final project awards?
- Could the Longtail project become the most technically advanced FPSO ever deployed?
- How many additional FPSO awards do you expect SBM Offshore to secure between 2026 and 2030?
- Will standardized FPSO concepts like Fast4Ward® become the dominant model for future deepwater developments?
#2
SBM Offshore / Re: Brazil - SEAP I - P-81 FPS...
Last post by Administrator - May 31, 2026, 08:52 AMPetrobras Awards SBM Offshore Contracts for Two 120,000-bpd FPSOs in Sergipe Deepwater Development
Petrobras has awarded SBM Offshore contracts for the construction and operation of two large floating production, storage and offloading (FPSO) vessels for the Sergipe Águas Profundas (SEAP) development in the Sergipe-Alagoas Basin offshore northeastern Brazil. The awards cover FPSO SEAP-I (P-81) and FPSO SEAP-II (P-87), which will play a central role in one of Petrobras' largest deepwater oil and gas developments planned for this decade.
The contracts were formally announced during a Petrobras investment event attended by Brazilian President Luiz Inácio Lula da Silva in Sergipe state. Petrobras confirmed that more than R$60 billion will be invested in the SEAP development, part of a broader R$70 billion investment package in Sergipe that includes upstream oil and gas projects, fertilizer production and offshore decommissioning activities.
Under the agreement, Petrobras-led consortia will retain ownership of both FPSOs, while SBM Offshore will be responsible for engineering, procurement, construction, installation, operation and maintenance of the facilities. Separate operations and maintenance contracts will run for an initial period of 6.5 years following startup.
The two FPSOs will be based on SBM Offshore's Fast4Ward® standardized design program, utilizing the company's 11th and 12th multipurpose newbuild hulls. The approach is intended to reduce project execution risk, improve schedule certainty and accelerate delivery for large-scale offshore developments.
FPSO P-87 (SEAP-II) will have a production capacity of 120,000 barrels of oil per day, associated gas treatment capacity of 425 million standard cubic feet per day and water injection capacity of 120,000 barrels per day. The vessel is scheduled for delivery in 2030 and will operate approximately 80 kilometres offshore in water depths of around 2,500 metres.
FPSO P-81 (SEAP-I) will also be designed to produce 120,000 barrels of oil per day. The unit will feature gas processing capacity of 355 million standard cubic feet per day and water injection capacity of 200,000 barrels per day. Delivery is expected in 2031, with operations located roughly 100 kilometres offshore in water depths of approximately 2,500 metres.
Combined, the two FPSOs will provide installed production capacity of 240,000 barrels of oil per day and significant offshore gas processing capability. Petrobras plans to begin oil production from the project in 2030, while gas exports are expected to commence in 2031.
A key feature of the SEAP development is its integrated gas export strategy. Unlike many offshore projects where associated gas is reinjected or flared, both FPSOs will be connected to an export pipeline system enabling direct gas delivery to onshore markets. Petrobras expects the development to substantially increase domestic gas supply, with the Northeast region's share of Brazil's natural gas availability projected to rise from approximately 16% today to around 31% by 2035.
According to Petrobras President Magda Chambriard, the project will transform Sergipe into the largest oil-producing state in northeastern Brazil while expanding regional gas supply. Each FPSO will incorporate dedicated natural gas processing facilities, supporting the company's objective of increasing production and improving long-term market availability.
Beyond the FPSOs, the SEAP project includes the drilling and connection of 32 subsea wells and the installation of approximately 134 kilometres of production and export pipelines. Procurement activities are already underway for subsea production systems, including wet Christmas trees and related subsea infrastructure.
Petrobras estimates that the development, including offshore facilities and pipeline construction, will generate more than 25,000 direct and indirect jobs during execution and operations. The project is expected to become one of Brazil's most significant deepwater investments, reinforcing the strategic importance of the Sergipe-Alagoas Basin within Petrobras' long-term growth portfolio.
Commenting on the award, SBM Offshore Chief Executive Officer Øivind Tangen said the contracts reinforce the company's long-standing partnership with Petrobras and highlight SBM Offshore's expertise in advanced offshore gas processing systems. He noted that the gas export infrastructure will contribute to greater energy availability in northeastern Brazil while creating long-term economic value for local communities and stakeholders.
The contract awards further strengthen SBM Offshore's leading position in the global FPSO market and underscore Petrobras' commitment to expanding production from Brazil's deepwater pre-salt and frontier offshore developments while accelerating the commercialization of offshore natural gas resources.
Petrobras has awarded SBM Offshore contracts for the construction and operation of two large floating production, storage and offloading (FPSO) vessels for the Sergipe Águas Profundas (SEAP) development in the Sergipe-Alagoas Basin offshore northeastern Brazil. The awards cover FPSO SEAP-I (P-81) and FPSO SEAP-II (P-87), which will play a central role in one of Petrobras' largest deepwater oil and gas developments planned for this decade.
The contracts were formally announced during a Petrobras investment event attended by Brazilian President Luiz Inácio Lula da Silva in Sergipe state. Petrobras confirmed that more than R$60 billion will be invested in the SEAP development, part of a broader R$70 billion investment package in Sergipe that includes upstream oil and gas projects, fertilizer production and offshore decommissioning activities.
Under the agreement, Petrobras-led consortia will retain ownership of both FPSOs, while SBM Offshore will be responsible for engineering, procurement, construction, installation, operation and maintenance of the facilities. Separate operations and maintenance contracts will run for an initial period of 6.5 years following startup.
The two FPSOs will be based on SBM Offshore's Fast4Ward® standardized design program, utilizing the company's 11th and 12th multipurpose newbuild hulls. The approach is intended to reduce project execution risk, improve schedule certainty and accelerate delivery for large-scale offshore developments.
FPSO P-87 (SEAP-II) will have a production capacity of 120,000 barrels of oil per day, associated gas treatment capacity of 425 million standard cubic feet per day and water injection capacity of 120,000 barrels per day. The vessel is scheduled for delivery in 2030 and will operate approximately 80 kilometres offshore in water depths of around 2,500 metres.
FPSO P-81 (SEAP-I) will also be designed to produce 120,000 barrels of oil per day. The unit will feature gas processing capacity of 355 million standard cubic feet per day and water injection capacity of 200,000 barrels per day. Delivery is expected in 2031, with operations located roughly 100 kilometres offshore in water depths of approximately 2,500 metres.
Combined, the two FPSOs will provide installed production capacity of 240,000 barrels of oil per day and significant offshore gas processing capability. Petrobras plans to begin oil production from the project in 2030, while gas exports are expected to commence in 2031.
A key feature of the SEAP development is its integrated gas export strategy. Unlike many offshore projects where associated gas is reinjected or flared, both FPSOs will be connected to an export pipeline system enabling direct gas delivery to onshore markets. Petrobras expects the development to substantially increase domestic gas supply, with the Northeast region's share of Brazil's natural gas availability projected to rise from approximately 16% today to around 31% by 2035.
According to Petrobras President Magda Chambriard, the project will transform Sergipe into the largest oil-producing state in northeastern Brazil while expanding regional gas supply. Each FPSO will incorporate dedicated natural gas processing facilities, supporting the company's objective of increasing production and improving long-term market availability.
Beyond the FPSOs, the SEAP project includes the drilling and connection of 32 subsea wells and the installation of approximately 134 kilometres of production and export pipelines. Procurement activities are already underway for subsea production systems, including wet Christmas trees and related subsea infrastructure.
Petrobras estimates that the development, including offshore facilities and pipeline construction, will generate more than 25,000 direct and indirect jobs during execution and operations. The project is expected to become one of Brazil's most significant deepwater investments, reinforcing the strategic importance of the Sergipe-Alagoas Basin within Petrobras' long-term growth portfolio.
Commenting on the award, SBM Offshore Chief Executive Officer Øivind Tangen said the contracts reinforce the company's long-standing partnership with Petrobras and highlight SBM Offshore's expertise in advanced offshore gas processing systems. He noted that the gas export infrastructure will contribute to greater energy availability in northeastern Brazil while creating long-term economic value for local communities and stakeholders.
The contract awards further strengthen SBM Offshore's leading position in the global FPSO market and underscore Petrobras' commitment to expanding production from Brazil's deepwater pre-salt and frontier offshore developments while accelerating the commercialization of offshore natural gas resources.
#3
SBM Offshore / Re: Brazil - SEAP II - P-87 FP...
Last post by Administrator - May 31, 2026, 08:52 AMPetrobras Awards SBM Offshore Contracts for Two 120,000-bpd FPSOs in Sergipe Deepwater Development
Petrobras has awarded SBM Offshore contracts for the construction and operation of two large floating production, storage and offloading (FPSO) vessels for the Sergipe Águas Profundas (SEAP) development in the Sergipe-Alagoas Basin offshore northeastern Brazil. The awards cover FPSO SEAP-I (P-81) and FPSO SEAP-II (P-87), which will play a central role in one of Petrobras' largest deepwater oil and gas developments planned for this decade.
The contracts were formally announced during a Petrobras investment event attended by Brazilian President Luiz Inácio Lula da Silva in Sergipe state. Petrobras confirmed that more than R$60 billion will be invested in the SEAP development, part of a broader R$70 billion investment package in Sergipe that includes upstream oil and gas projects, fertilizer production and offshore decommissioning activities.
Under the agreement, Petrobras-led consortia will retain ownership of both FPSOs, while SBM Offshore will be responsible for engineering, procurement, construction, installation, operation and maintenance of the facilities. Separate operations and maintenance contracts will run for an initial period of 6.5 years following startup.
The two FPSOs will be based on SBM Offshore's Fast4Ward® standardized design program, utilizing the company's 11th and 12th multipurpose newbuild hulls. The approach is intended to reduce project execution risk, improve schedule certainty and accelerate delivery for large-scale offshore developments.
FPSO P-87 (SEAP-II) will have a production capacity of 120,000 barrels of oil per day, associated gas treatment capacity of 425 million standard cubic feet per day and water injection capacity of 120,000 barrels per day. The vessel is scheduled for delivery in 2030 and will operate approximately 80 kilometres offshore in water depths of around 2,500 metres.
FPSO P-81 (SEAP-I) will also be designed to produce 120,000 barrels of oil per day. The unit will feature gas processing capacity of 355 million standard cubic feet per day and water injection capacity of 200,000 barrels per day. Delivery is expected in 2031, with operations located roughly 100 kilometres offshore in water depths of approximately 2,500 metres.
Combined, the two FPSOs will provide installed production capacity of 240,000 barrels of oil per day and significant offshore gas processing capability. Petrobras plans to begin oil production from the project in 2030, while gas exports are expected to commence in 2031.
A key feature of the SEAP development is its integrated gas export strategy. Unlike many offshore projects where associated gas is reinjected or flared, both FPSOs will be connected to an export pipeline system enabling direct gas delivery to onshore markets. Petrobras expects the development to substantially increase domestic gas supply, with the Northeast region's share of Brazil's natural gas availability projected to rise from approximately 16% today to around 31% by 2035.
According to Petrobras President Magda Chambriard, the project will transform Sergipe into the largest oil-producing state in northeastern Brazil while expanding regional gas supply. Each FPSO will incorporate dedicated natural gas processing facilities, supporting the company's objective of increasing production and improving long-term market availability.
Beyond the FPSOs, the SEAP project includes the drilling and connection of 32 subsea wells and the installation of approximately 134 kilometres of production and export pipelines. Procurement activities are already underway for subsea production systems, including wet Christmas trees and related subsea infrastructure.
Petrobras estimates that the development, including offshore facilities and pipeline construction, will generate more than 25,000 direct and indirect jobs during execution and operations. The project is expected to become one of Brazil's most significant deepwater investments, reinforcing the strategic importance of the Sergipe-Alagoas Basin within Petrobras' long-term growth portfolio.
Commenting on the award, SBM Offshore Chief Executive Officer Øivind Tangen said the contracts reinforce the company's long-standing partnership with Petrobras and highlight SBM Offshore's expertise in advanced offshore gas processing systems. He noted that the gas export infrastructure will contribute to greater energy availability in northeastern Brazil while creating long-term economic value for local communities and stakeholders.
The contract awards further strengthen SBM Offshore's leading position in the global FPSO market and underscore Petrobras' commitment to expanding production from Brazil's deepwater pre-salt and frontier offshore developments while accelerating the commercialization of offshore natural gas resources.
Petrobras has awarded SBM Offshore contracts for the construction and operation of two large floating production, storage and offloading (FPSO) vessels for the Sergipe Águas Profundas (SEAP) development in the Sergipe-Alagoas Basin offshore northeastern Brazil. The awards cover FPSO SEAP-I (P-81) and FPSO SEAP-II (P-87), which will play a central role in one of Petrobras' largest deepwater oil and gas developments planned for this decade.
The contracts were formally announced during a Petrobras investment event attended by Brazilian President Luiz Inácio Lula da Silva in Sergipe state. Petrobras confirmed that more than R$60 billion will be invested in the SEAP development, part of a broader R$70 billion investment package in Sergipe that includes upstream oil and gas projects, fertilizer production and offshore decommissioning activities.
Under the agreement, Petrobras-led consortia will retain ownership of both FPSOs, while SBM Offshore will be responsible for engineering, procurement, construction, installation, operation and maintenance of the facilities. Separate operations and maintenance contracts will run for an initial period of 6.5 years following startup.
The two FPSOs will be based on SBM Offshore's Fast4Ward® standardized design program, utilizing the company's 11th and 12th multipurpose newbuild hulls. The approach is intended to reduce project execution risk, improve schedule certainty and accelerate delivery for large-scale offshore developments.
FPSO P-87 (SEAP-II) will have a production capacity of 120,000 barrels of oil per day, associated gas treatment capacity of 425 million standard cubic feet per day and water injection capacity of 120,000 barrels per day. The vessel is scheduled for delivery in 2030 and will operate approximately 80 kilometres offshore in water depths of around 2,500 metres.
FPSO P-81 (SEAP-I) will also be designed to produce 120,000 barrels of oil per day. The unit will feature gas processing capacity of 355 million standard cubic feet per day and water injection capacity of 200,000 barrels per day. Delivery is expected in 2031, with operations located roughly 100 kilometres offshore in water depths of approximately 2,500 metres.
Combined, the two FPSOs will provide installed production capacity of 240,000 barrels of oil per day and significant offshore gas processing capability. Petrobras plans to begin oil production from the project in 2030, while gas exports are expected to commence in 2031.
A key feature of the SEAP development is its integrated gas export strategy. Unlike many offshore projects where associated gas is reinjected or flared, both FPSOs will be connected to an export pipeline system enabling direct gas delivery to onshore markets. Petrobras expects the development to substantially increase domestic gas supply, with the Northeast region's share of Brazil's natural gas availability projected to rise from approximately 16% today to around 31% by 2035.
According to Petrobras President Magda Chambriard, the project will transform Sergipe into the largest oil-producing state in northeastern Brazil while expanding regional gas supply. Each FPSO will incorporate dedicated natural gas processing facilities, supporting the company's objective of increasing production and improving long-term market availability.
Beyond the FPSOs, the SEAP project includes the drilling and connection of 32 subsea wells and the installation of approximately 134 kilometres of production and export pipelines. Procurement activities are already underway for subsea production systems, including wet Christmas trees and related subsea infrastructure.
Petrobras estimates that the development, including offshore facilities and pipeline construction, will generate more than 25,000 direct and indirect jobs during execution and operations. The project is expected to become one of Brazil's most significant deepwater investments, reinforcing the strategic importance of the Sergipe-Alagoas Basin within Petrobras' long-term growth portfolio.
Commenting on the award, SBM Offshore Chief Executive Officer Øivind Tangen said the contracts reinforce the company's long-standing partnership with Petrobras and highlight SBM Offshore's expertise in advanced offshore gas processing systems. He noted that the gas export infrastructure will contribute to greater energy availability in northeastern Brazil while creating long-term economic value for local communities and stakeholders.
The contract awards further strengthen SBM Offshore's leading position in the global FPSO market and underscore Petrobras' commitment to expanding production from Brazil's deepwater pre-salt and frontier offshore developments while accelerating the commercialization of offshore natural gas resources.
#4
LNG Regasification (Import) Terminals / Singapore - 2nd LNG Terminal F...
Last post by Administrator - May 29, 2026, 06:52 AMConstruction of the FSRU for Singapore's Second LNG Terminal Begins
Singapore LNG Corporation Pte Ltd (SLNG) participated in a steel cutting ceremony held today at Hanwha Ocean Shipyard in Geoje, South Korea, to mark the start of construction of the Floating Storage and Regasification Unit (FSRU) for Singapore's Second Liquefied Natural Gas (LNG) Terminal. The ceremony marks a significant project milestone, as it initiates the development of a strategic infrastructure asset to strengthen Singapore's energy security and support the nation's increasing energy needs. The ceremony was attended by SLNG Chairman, Mr Gan Seow Kee, SLNG Chief Executive Officer, Mr Leong Wei Hung, and Energy Market Authority (EMA) Chief Executive Mr Puah Kok Keong. Mr Hisashi Umemura, Senior Managing Executive Officer of Mitsui O.S.K. Lines Ltd (MOL), the owner and operator of the FSRU, and Mr Sang Don Kang, President & Chief Operating Officer, Head of Commercial Vessel Business of Hanwha Ocean, the South Korean shipbuilder building the FSRU, also participated in the ceremony.
To meet SLNG's operational requirements, the FSRU has been designed and engineered to operate for up to a 25-year charter period without the need for dry docking, which is a first for FSRUs worldwide. To achieve this, the ship has adopted several American Bureau of Shipping (ABS) 'SMART' Class notations that leverage advanced digital technologies to enhance operational efficiency, enable predictive maintenance, and strengthen safety assurance. For example, its main generator engines carry the SMART MHM (Machinery Health Monitoring) notation, delivering real-time insights into machinery health and enabling proactive, data-driven servicing. Coupled with dedicated onboard maintenance spaces and purpose-built clearances within the vessel's design, critical systems servicing can be carried out in situ, ensuring compliance and maintaining peak performance without entering a shipyard.
The FSRU will have a storage capacity of 204,000m3 and a regasification capacity of 5 Million Tonnes Per Annum (MTPA). This regasification capacity is sufficient to power roughly 6 million 4-room HDB flats for an entire year. When completed, the FSRU will measure some 299m in length, which is about the length of three football fields, while spanning 51m in width and rising 55m in height. It will have living quarters that can accommodate up to 45 ship crew personnel, and include facilities for meeting, medical and recreational use.
The FSRU is on track to enter into service by the end of the decade.
Singapore LNG Corporation Pte Ltd (SLNG) participated in a steel cutting ceremony held today at Hanwha Ocean Shipyard in Geoje, South Korea, to mark the start of construction of the Floating Storage and Regasification Unit (FSRU) for Singapore's Second Liquefied Natural Gas (LNG) Terminal. The ceremony marks a significant project milestone, as it initiates the development of a strategic infrastructure asset to strengthen Singapore's energy security and support the nation's increasing energy needs. The ceremony was attended by SLNG Chairman, Mr Gan Seow Kee, SLNG Chief Executive Officer, Mr Leong Wei Hung, and Energy Market Authority (EMA) Chief Executive Mr Puah Kok Keong. Mr Hisashi Umemura, Senior Managing Executive Officer of Mitsui O.S.K. Lines Ltd (MOL), the owner and operator of the FSRU, and Mr Sang Don Kang, President & Chief Operating Officer, Head of Commercial Vessel Business of Hanwha Ocean, the South Korean shipbuilder building the FSRU, also participated in the ceremony.
To meet SLNG's operational requirements, the FSRU has been designed and engineered to operate for up to a 25-year charter period without the need for dry docking, which is a first for FSRUs worldwide. To achieve this, the ship has adopted several American Bureau of Shipping (ABS) 'SMART' Class notations that leverage advanced digital technologies to enhance operational efficiency, enable predictive maintenance, and strengthen safety assurance. For example, its main generator engines carry the SMART MHM (Machinery Health Monitoring) notation, delivering real-time insights into machinery health and enabling proactive, data-driven servicing. Coupled with dedicated onboard maintenance spaces and purpose-built clearances within the vessel's design, critical systems servicing can be carried out in situ, ensuring compliance and maintaining peak performance without entering a shipyard.
The FSRU will have a storage capacity of 204,000m3 and a regasification capacity of 5 Million Tonnes Per Annum (MTPA). This regasification capacity is sufficient to power roughly 6 million 4-room HDB flats for an entire year. When completed, the FSRU will measure some 299m in length, which is about the length of three football fields, while spanning 51m in width and rising 55m in height. It will have living quarters that can accommodate up to 45 ship crew personnel, and include facilities for meeting, medical and recreational use.
The FSRU is on track to enter into service by the end of the decade.
#5
Industry News & Market Insights / Harbour Energy’s $3.2B LLOG Ac...
Last post by Administrator - May 24, 2026, 09:50 AMHarbour Energy has officially completed its $3.2 billion acquisition of LLOG Exploration Company — a move that gives Harbour a major foothold in the deepwater US Gulf of America and potentially reshapes its long-term production strategy.
The deal marks Harbour's expansion into one of the world's most established offshore oil regions, adding a fully operated, oil-heavy portfolio with long-life assets and future drilling opportunities.
Key Highlights From the Deal
The acquisition also creates a new core business region for Harbour alongside its operations in:
Why This Matters
Deepwater oil projects were once seen as high-risk, high-cost ventures. But with improved drilling technology, stronger oil prices, and demand for long-life production assets, major players are once again doubling down offshore.
Harbour's move could signal:
At the same time, the deal raises questions about:
What Stands Out
One interesting angle is the projected production ramp:
That's nearly doubling output within three years — ambitious, especially in offshore development where delays and cost overruns are common.
Another point:
The seller now owns roughly 11% of Harbour Energy through newly issued shares, with 70% locked up for one year. That suggests continued alignment between both parties rather than a clean exit.
The deal marks Harbour's expansion into one of the world's most established offshore oil regions, adding a fully operated, oil-heavy portfolio with long-life assets and future drilling opportunities.
Key Highlights From the Deal
- Acquisition value: $3.2 billion
- Entry into the US Gulf of America deepwater market
- LLOG produced approximately 36,000 barrels of oil equivalent per day (kboepd) in 2025
- Harbour expects production growth to 65,000–70,000 boepd by 2028
- Deal funded through:
- $2.7B cash
- $1B bridge facility
- $1B term loan
- Existing liquidity
- $0.5B in newly issued shares
The acquisition also creates a new core business region for Harbour alongside its operations in:
- Norway
- UK
- Argentina
- Mexico
Why This Matters
Deepwater oil projects were once seen as high-risk, high-cost ventures. But with improved drilling technology, stronger oil prices, and demand for long-life production assets, major players are once again doubling down offshore.
Harbour's move could signal:
- Confidence in long-term oil demand
- A strategic pivot toward higher-margin barrels
- Increased competition in Gulf deepwater operations
- Consolidation among mid-to-large energy companies
At the same time, the deal raises questions about:
- Debt exposure and financing risks
- Oil price dependency
- ESG pressures on fossil fuel expansion
- Whether offshore mega-projects still make sense in the energy transition era
What Stands Out
One interesting angle is the projected production ramp:
- From 36k boepd in 2025
- To potentially 70k boepd by 2028
That's nearly doubling output within three years — ambitious, especially in offshore development where delays and cost overruns are common.
Another point:
The seller now owns roughly 11% of Harbour Energy through newly issued shares, with 70% locked up for one year. That suggests continued alignment between both parties rather than a clean exit.
QuoteCEO Statement
According to CEO Linda Z Cook, the acquisition strengthens Harbour's long-term growth platform and adds experienced exploration and development teams in a prolific basin.
The company says the combination positions Harbour to deliver "significant value" for shareholders.
#6
OceanSTAR Elite / Re: Vietnam - Lac Da Vang FSO
Last post by Administrator - May 16, 2026, 07:18 AMOCEANSTAR ELITE LDV FSO Successfully Launched – A Major Project Milestone
On 6 February 2026, OceanSTAR Elite Group (OSE) successfully held the launching ceremony of the LDV Floating Storage and Offloading (FSO) unit at Nantong Strongwind Shipyard, China. This milestone follows the steel cutting in February 2025 and keel laying in July 2025, marking the project's transition into the delivery stage.
The ceremony was attended by our valued client and partners, including Murphy Cuu Long BacOil, PTSC Asia Pacific, ABS, and Titan Wind Offshore, reflecting the strong collaboration driving this project. Thanks to the excellent teamwork among all stakeholders, the project is currently progressing ahead of schedule.
Developed under the EPCC model, the LDV FSO features a storage capacity of 460,000 barrels and is designed to enhance operational efficiency while supporting sustainable offshore oilfield operations. The project is scheduled for delivery in mid-2026.
In addition, the project team has achieved an outstanding safety milestone of Zero Lost Time Injuries (0 LTI) across 1.2 million man-hours, demonstrating OSE's unwavering commitment to safety and operational excellence.
We sincerely thank all partners for their continued trust and support as we move toward successful project delivery.
On 6 February 2026, OceanSTAR Elite Group (OSE) successfully held the launching ceremony of the LDV Floating Storage and Offloading (FSO) unit at Nantong Strongwind Shipyard, China. This milestone follows the steel cutting in February 2025 and keel laying in July 2025, marking the project's transition into the delivery stage.
The ceremony was attended by our valued client and partners, including Murphy Cuu Long BacOil, PTSC Asia Pacific, ABS, and Titan Wind Offshore, reflecting the strong collaboration driving this project. Thanks to the excellent teamwork among all stakeholders, the project is currently progressing ahead of schedule.
Developed under the EPCC model, the LDV FSO features a storage capacity of 460,000 barrels and is designed to enhance operational efficiency while supporting sustainable offshore oilfield operations. The project is scheduled for delivery in mid-2026.
In addition, the project team has achieved an outstanding safety milestone of Zero Lost Time Injuries (0 LTI) across 1.2 million man-hours, demonstrating OSE's unwavering commitment to safety and operational excellence.
We sincerely thank all partners for their continued trust and support as we move toward successful project delivery.
#7
OceanSTAR Elite / Vietnam - Lac Da Vang FSO
Last post by Administrator - May 16, 2026, 07:17 AMOceanSTAR ELITE Secures EPCC Contract for FSO Project
17 Oct 2024
OceanSTAR Elite Group of Companies is pleased to announce award of an Engineering, Procurement, Construction and Commissioning (EPCC) contract for a Floating Storage Offloading (FSO) unit, which be moored and operated in an offshore block within region. The ceremony of the project will be held in Nantong on October 18, 2024.
It proves our capabilities and reputation again. OceanSTAR is committed to boost customer satisfaction in all Safety, Technical, Quality and Scheduling aspects, with continuous enhancement of Technical Expertise, Productivity and Innovation.
17 Oct 2024
OceanSTAR Elite Group of Companies is pleased to announce award of an Engineering, Procurement, Construction and Commissioning (EPCC) contract for a Floating Storage Offloading (FSO) unit, which be moored and operated in an offshore block within region. The ceremony of the project will be held in Nantong on October 18, 2024.
It proves our capabilities and reputation again. OceanSTAR is committed to boost customer satisfaction in all Safety, Technical, Quality and Scheduling aspects, with continuous enhancement of Technical Expertise, Productivity and Innovation.
#8
OceanSTAR Elite / Re: Malaysia - Sepat FPSO
Last post by Administrator - May 16, 2026, 07:15 AMOceanSTAR Elite Group Signs Purchase Order with AECC Gas Turbine for Five Taihang 7 Gas Turbines
31 Mar 2026
On March 31, OceanSTAR Elite Group ("OSE") and AECC Gas Turbine ("AECC GT") held a signing ceremony in Nantong, Jiangsu, and officially signed a Purchase Order (PO) for five Taihang 7 gas turbines. This procurement marks a key milestone in the execution of OSE's FPSO project for the Sepat Integrated Redevelopment Project of PETRONAS Carigali Sdn. Bhd.
The five Taihang 7 gas turbines will be deployed on the FPSO serving the project. As the contractor for the provision of lease, operation and maintenance (O&M) services for the FPSO, OSE views this PO as an important step in strengthening the project's critical equipment configuration and overall delivery readiness, while further reinforcing its execution capability across the offshore energy value chain.
This signing not only represents a significant procurement milestone for the Sepat FPSO project, but also reflects OSE's commitment to working with leading equipment partners to deliver high-quality offshore energy solutions. Looking ahead, the company will continue to leverage its strengths in project development, engineering integration, execution management and resource coordination to support complex offshore energy projects in international markets.
31 Mar 2026
On March 31, OceanSTAR Elite Group ("OSE") and AECC Gas Turbine ("AECC GT") held a signing ceremony in Nantong, Jiangsu, and officially signed a Purchase Order (PO) for five Taihang 7 gas turbines. This procurement marks a key milestone in the execution of OSE's FPSO project for the Sepat Integrated Redevelopment Project of PETRONAS Carigali Sdn. Bhd.
The five Taihang 7 gas turbines will be deployed on the FPSO serving the project. As the contractor for the provision of lease, operation and maintenance (O&M) services for the FPSO, OSE views this PO as an important step in strengthening the project's critical equipment configuration and overall delivery readiness, while further reinforcing its execution capability across the offshore energy value chain.
This signing not only represents a significant procurement milestone for the Sepat FPSO project, but also reflects OSE's commitment to working with leading equipment partners to deliver high-quality offshore energy solutions. Looking ahead, the company will continue to leverage its strengths in project development, engineering integration, execution management and resource coordination to support complex offshore energy projects in international markets.
#9
OceanSTAR Elite / Re: Malaysia - Sepat FPSO
Last post by Administrator - May 16, 2026, 07:14 AMOceanSTAR Elite and SBW Sign Compressor Purchase Order for Sepat FPSO Project
20 Apr 2026
On April 20, 2026, OceanSTAR Elite Group ("OSE") and Shenyang Blower Works Group Corporation ("SBW") held a purchase order signing ceremony in Singapore and officially signed a procurement agreement for 2 sets of AG Compressors (2BCL457) and 1 set of GIGL Compressor (BCL306A) for the Sepat FPSO Project.
This procurement marks another important milestone in the execution of OSE's Sepat FPSO project. The compressors covered under this purchase order will form part of the key process equipment package for the FPSO, further supporting project delivery readiness and the overall development of the Sepat field.
The signing also reflects OSE's continued commitment to working with established equipment partners to secure critical long-lead items and strengthen project execution. At the same time, it aligns with OSE's broader effort to develop a more integrated and reliable Supply Chain ECOsystem, bringing together capable partners, technical resources and delivery support to better serve complex offshore energy projects.
As the project moves forward, OSE will continue to advance procurement, engineering coordination and delivery planning in support of the successful implementation of the Sepat FPSO. Through closer collaboration with strategic suppliers and industry partners, OSE aims to further enhance supply chain resilience, execution efficiency and overall project delivery capability.
This purchase order signing also demonstrates the steady progress of the Sepat FPSO project and highlights the importance of close collaboration between project stakeholders and equipment suppliers. OSE remains focused on delivering a reliable and efficient offshore energy solution for the project through disciplined execution and integrated resource coordination.
20 Apr 2026
On April 20, 2026, OceanSTAR Elite Group ("OSE") and Shenyang Blower Works Group Corporation ("SBW") held a purchase order signing ceremony in Singapore and officially signed a procurement agreement for 2 sets of AG Compressors (2BCL457) and 1 set of GIGL Compressor (BCL306A) for the Sepat FPSO Project.
This procurement marks another important milestone in the execution of OSE's Sepat FPSO project. The compressors covered under this purchase order will form part of the key process equipment package for the FPSO, further supporting project delivery readiness and the overall development of the Sepat field.
The signing also reflects OSE's continued commitment to working with established equipment partners to secure critical long-lead items and strengthen project execution. At the same time, it aligns with OSE's broader effort to develop a more integrated and reliable Supply Chain ECOsystem, bringing together capable partners, technical resources and delivery support to better serve complex offshore energy projects.
As the project moves forward, OSE will continue to advance procurement, engineering coordination and delivery planning in support of the successful implementation of the Sepat FPSO. Through closer collaboration with strategic suppliers and industry partners, OSE aims to further enhance supply chain resilience, execution efficiency and overall project delivery capability.
This purchase order signing also demonstrates the steady progress of the Sepat FPSO project and highlights the importance of close collaboration between project stakeholders and equipment suppliers. OSE remains focused on delivering a reliable and efficient offshore energy solution for the project through disciplined execution and integrated resource coordination.
#10
OceanSTAR Elite / Malaysia - Sepat FPSO
Last post by Administrator - May 16, 2026, 07:13 AMOceanSTAR Elite and CMHI (Jiangsu) Sign EPC Contract for Sepat FPSO Project
15 May 2026
OceanSTAR Elite Group ("OSE") and China Merchants Heavy Industry (Jiangsu) Co., Ltd. ("CMHI Jiangsu") held the Engineering, Procurement and Construction ("EPC") Contract Signing Ceremony for the Floating Production, Storage and Offloading ("FPSO") unit for the PETRONAS Sepat Integrated Redevelopment Project.
The signing of the EPC contract marks a major milestone in the execution of the Sepat FPSO Project and represents an important step forward in transforming the project from contract award and planning into full-scale engineering, procurement and construction implementation.
As one of China's leading offshore and marine construction yards, CMHI Jiangsu brings extensive experience in complex vessel construction, offshore engineering, project execution and integrated delivery. Under the EPC contract, CMHI Jiangsu will play a key role in supporting the construction and delivery of the FPSO, working closely with OSE and other project stakeholders to ensure safe, efficient and timely project execution.
This collaboration combines OSE's offshore project development, engineering and execution capabilities with CMHI Jiangsu's strong shipbuilding and offshore construction expertise. It also reflects OSE's continued strategy of working with capable and reliable industry partners to strengthen project delivery and build a robust execution platform for FPSO, FSO and FPU projects.
The Sepat FPSO Project is an important project for OSE in Malaysia and reflects the Group's continued commitment to delivering fit-for-purpose offshore production solutions for the regional energy market. With the EPC contract now in place, OSE will continue to advance detailed engineering, procurement, construction planning and project coordination in close collaboration with CMHI Jiangsu and other partners.
OSE would like to express its appreciation to CMHI Jiangsu and all supporting parties for their continued cooperation and commitment. The signing of this contract further strengthens the foundation for the successful delivery of the Sepat FPSO Project and demonstrates the shared objective of all parties to execute the project with high standards of safety, quality and performance.
15 May 2026
OceanSTAR Elite Group ("OSE") and China Merchants Heavy Industry (Jiangsu) Co., Ltd. ("CMHI Jiangsu") held the Engineering, Procurement and Construction ("EPC") Contract Signing Ceremony for the Floating Production, Storage and Offloading ("FPSO") unit for the PETRONAS Sepat Integrated Redevelopment Project.
The signing of the EPC contract marks a major milestone in the execution of the Sepat FPSO Project and represents an important step forward in transforming the project from contract award and planning into full-scale engineering, procurement and construction implementation.
As one of China's leading offshore and marine construction yards, CMHI Jiangsu brings extensive experience in complex vessel construction, offshore engineering, project execution and integrated delivery. Under the EPC contract, CMHI Jiangsu will play a key role in supporting the construction and delivery of the FPSO, working closely with OSE and other project stakeholders to ensure safe, efficient and timely project execution.
This collaboration combines OSE's offshore project development, engineering and execution capabilities with CMHI Jiangsu's strong shipbuilding and offshore construction expertise. It also reflects OSE's continued strategy of working with capable and reliable industry partners to strengthen project delivery and build a robust execution platform for FPSO, FSO and FPU projects.
The Sepat FPSO Project is an important project for OSE in Malaysia and reflects the Group's continued commitment to delivering fit-for-purpose offshore production solutions for the regional energy market. With the EPC contract now in place, OSE will continue to advance detailed engineering, procurement, construction planning and project coordination in close collaboration with CMHI Jiangsu and other partners.
OSE would like to express its appreciation to CMHI Jiangsu and all supporting parties for their continued cooperation and commitment. The signing of this contract further strengthens the foundation for the successful delivery of the Sepat FPSO Project and demonstrates the shared objective of all parties to execute the project with high standards of safety, quality and performance.