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28 Nov 2022
OFS weekly project 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 | Viridien (VIRI: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), 3.8 | 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 project 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 | Viridien (VIRI: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), 3.8 | 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:
28 Nov 2022 -
Author:
Thomson Daniel DT -
Pages:
6 -
Shell''s Gato do Mato postponed, Exxon examines FLNG options, Adnoc to issue LZ tender
This week saw Shell push FID on its Gato do Mato oil and gas project offshore Brazil to the right by 12-24 months, with cost inflation concerns leading to a re-evaluation of the FPSO development. BW Offshore and Saipem had been working on the early stages of the development. Petrobras has allowed bidders including Subsea 7, Saipem and TechnipFMC an additional two months to submit offers for the $1bn Buzios-Tupi titanium riser replacement project (TiPT), while ExxonMobil is understood to be in talks with a trio of contracting groups for the provision of up to two additional FLNG vessels to exploit gas reserves offshore Mozambique in Area 4 (Technip Energies relevant). In the Middle East, Adnoc is preparing to issue new tenders for up to $1.8bn of works in the latest expansion phase at Lower Zakum, while industry news sources report that Technip Energies is the low bidder on an c$800m package for Satorp''s Amiral Petrochemicals Complex in Saudi Arabia.
Awards and FIDs: Equinor submits Irpa PDO, Technip Energies signs Project Haber FEED
Equinor announced this week that it had submitted a development plan for its $1.5bn Irpa gas project offshore Norway, with Aibel awarded a related platform modifications contract. In Australia, Technip Energies was awarded the FEED contract for Strike Energy''s 1.4mtpa low-carbon urea-fertilizer project, with completion targeted in 2023 ahead of FID.
Chart of the week
We highlight that production growth from deepwater developments production growth is expected to outstrip all other supply sources this decade, growing 60% to 2030 with ten new countries set to become producers. Advantaged economics and lower emissions are the primary drivers. With offshore OFS demand growing following large cuts in service capacity, pricing continues to improve, as highlighted in recent 3Q results calls. The threat of vessel additions remains low in...