Tag: FPSO

LNG and FPSO arms made a profit of only $12m Maersk is said to be looking to offload its FPSO arm Maersk has been discreetly tapping the market for some months about a possible sale of its FPSO business, TradeWinds' sister publication Upstream said quoting an unnamed source.Talk of its FPSO business being no longer core for Maersk comes barely days after the Danish giant said it may sell its LNG shipping arm.The Danish company said it will go to the market to find a potential buyer for Maersk LNG because it wants to reallocate resources to other parts of the group.Quoting a rival FPSO contractor the newspaper said informal discussions have been held between Maersk and potential buyers.Maersk has been approached by interests that have been keen to look either at individual units in their fleet or the entire division, Upstream reported.Together, the LNG and FPSO arms made a profit of only $12m in the first quarter of 2011 and generated a rate of return of 1.8%, far below that of Maersks upstream and shipping businesses.Late last year Maersk brought in Stig Hoffmeyer as the new chief executive at its LNG and FPSO operations in a bid to turn ...

Operations were immediately shut down CNOOC Limited announced today that, a malfunction occurred on the single point mooring system of the Floating, Production, Storage and Offloading (FPSO) vessel "Haiyangshiyou 102" serving in the Bohai Bay due to rough sea conditions.Operations were immediately shut down at the affected oilfields.Till now, the "Haiyangshiyou 102" FPSO has been safely secured and tugged to safe area. There were no injuries during the process and no oil spill was found. The Company is actively working on the recovery plan to resume production as early as possible.The oilfields affected this time include Bozhong ("BZ") 28-2 S, BZ 28-2 SN, BZ 34-1N and BZ 29-4.All of these four fields are owned and operated by the Company. The total production capacity was approximately 39,000 barrels per day.The Company maintains appropriate insurance coverage of the operations related to the oilfields.Source: CNOOC

FPSO experiencing heavy weather Aberdeen Coastguard are currently monitoring developments on the Gryphon A, operated by Maersk, a floating production, storage and offloading (FPSO) which is being buffeted by very heavy weather in the North Sea. The platform is based 175 miles north east of Aberdeen. Winds are currently 53 knots from the north west and the platform was recording a 12 degree roll earlier this morning. Nine metre seas are also being recorded. The unit is a floating vessel used by the offshore industry for the processing and storage of oil and gas. There are 114 people on board the vessel who have been mustered to their emergency positions. Two minor injuries have been recorded. Several anchor mooring positions have given way in the extreme weather conditions and production has been shut down. The vessels thrusters are still in operation and the team on board are trying to maintain their position in the very poor weather. The companys emergency shoreside team is co-ordinating support services. No gas has been detected. Work is underway with the air rescue co-ordination centre at Kinloss (ARCCK) to alert nearby platforms to take non-essential personnel should that prove necessary and helicopter bases have been ...