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26 May 2023
OFS weekly news wrap
Saipem (SPM:BIT), 0 | Saipem S.p.A. (SPM:MIL), 0 | Vallourec (VK:EPA), 0 | Vallourec SA (VK:PAR), 0 | CGG (CGG:EPA), 0 | CGG (CGG:PAR), 0 | SBM Offshore NV (SBMO:AMS), 0 | TechnipFMC PLC (FTI:NYSE), 0 | TechnipFMC plc (FTI:NYS), 0 | SUBSEA 7 (SUBC:STO), 0 | Subsea 7 S.A. (SUBC:OSL), 0 | Petrofac Limited (PFC:LON), 23.0 | MaireTecnimont SpA (MAIRE:MIL), 0 | Gaztransport & Technigaz (GTT:EPA), 0 | Gaztransport & Technigaz SA (GTT:PAR), 0 | AKER SOLUTIONS (AKSO:STO), 0 | Aker Solutions ASA (AKSO:OSL), 0 | Technip Energies NV (TE:PAR), 0
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OFS weekly news wrap
Saipem (SPM:BIT), 0 | Saipem S.p.A. (SPM:MIL), 0 | Vallourec (VK:EPA), 0 | Vallourec SA (VK:PAR), 0 | CGG (CGG:EPA), 0 | CGG (CGG:PAR), 0 | SBM Offshore NV (SBMO:AMS), 0 | TechnipFMC PLC (FTI:NYSE), 0 | TechnipFMC plc (FTI:NYS), 0 | SUBSEA 7 (SUBC:STO), 0 | Subsea 7 S.A. (SUBC:OSL), 0 | Petrofac Limited (PFC:LON), 23.0 | MaireTecnimont SpA (MAIRE:MIL), 0 | Gaztransport & Technigaz (GTT:EPA), 0 | Gaztransport & Technigaz SA (GTT:PAR), 0 | AKER SOLUTIONS (AKSO:STO), 0 | Aker Solutions ASA (AKSO:OSL), 0 | Technip Energies NV (TE:PAR), 0
- Published:
26 May 2023 -
Author:
Thomson Daniel DT -
Pages:
6
Mozambique LNG progress, MDR leading NFPS contest, Azule Energy issues subsea tenders
With the release of a detailed humanitarian report this week, TotalEnergies moved a step closer to the restart of physical activities on its Mozambique LNG project though did not disclose a precise timeline or the status of negotiations with the supply chain on costs where a Saipem consortium is lead onshore contractor. In Angola, Azule Energy has issued new subsea tenders for its Block 31 PAJ FPSO project as well as for an unnamed project on Block 15/06, while in Nigeria TotalEnergies'' long-delayed Preowei tie-back project could soon see FID. In Qatar, McDermott has reportedly emerged as the frontrunner for a key EPCI contract relating to the NFPS project, meanwhile in the UAE expressions of interest for revised Hail and Ghasha EPC packages have been submitted to Adnoc as well as commercial bids for the Habshan gas processing facilities. Elsewhere, PTTEP is set to launch a major offshore tender related to its Lang Lebah gas project off Malaysia, targeting FID in late 2023/early 2024.
Announced awards and FIDs
TechnipFMC announced last night the award of a ''significant'' ($75-250m) integrated Engineering, Procurement, Construction and Installation (iEPCI) contract by Shell for its Dover deepwater tie-back project in the US GoM. It is FTI''s fourth announced Subsea award in 2Q23, with the overall value of announced intake worth $2.2bn (1.4x book-to-bill) against consensus on Visible Alpha of c$2bn.
Key takeaways from the IEA''s World Energy Investment report published this week
Yesterday the IEA released the 2023 edition of its annual World Energy Investment report, highlighting that energy sector investment was anticipated to reach a record level of $2.8 trillion in 2023, up 6% y/y and with clean energy investment of $1.7tn outpacing fossil fuel investment of c$1tn. The report sees upstream oil and gas investment increasing 7% y/y in 2023 to $500bn, similar to...