Petrobras firms up deals for Marlim 2 FPSO with Yinson

Malaysian FPSO provider Yinson has signed contracts with Petrobras for the delivery, operation, and maintenance of the Marlim 2 FPSO.

Illustration; Source: Petrobras

Yinson won two letters of intent from Petrobras in October 2019 for the charter and operation of the Marlim 2 FPSO for the Marlim revitalization project in Brazil.

The company said at the time that the estimated aggregate value of the contracts was equivalent to $5.4 billion. The contract period is for 25 years from the date of the final acceptance.

FPSO Marlim 2 will be Yinson’s first vessel to operate in Brazilian waters.

Yinson said last week that its subsidiaries Yinson Production Pte Ltd, Yinson Boronia Production B.V., and Yinson Boronia Serviços de Operação Ltda, had now entered into definitive contracts with Petrobras for the Marlim 2, under the same terms as stated in the letters of intent from October 2019.

According to the FPSO provider, the date of final acceptance under the contracts is expected in the first quarter of 2023.

On Monday, Yinson added that there would be no extension of the term of the charter under the contracts.

As for the FPSO, Marlim 2 will be installed some 150 kilometers off the Brazilian coast, in a water depth of 930 meters. It will have the capacity to process up to 70,000 bpd of oil and 4 million cbm of natural gas.

Also worth noting, Yinson and Sumitomo Corporation announced their intention to collaborate on the Marlim revitalization project back in March 2019 in the event of a successful bid by Yinson.

The other FPSO for the Marlim revitalization project is the Marlim 1. Japan’s MODEC received a letter of intent for the supply, charter, and operations of an FPSO vessel for the project from Petrobras back in October 2019. First oil from Marlim 1 is planned for 2022.

Marlim 1 will be MODEC’s 16th project for Petrobras and will be chartered for 25 years. The 15th FPSO order for MODEC from Petrobras was for Búzios 5 field. It was ordered back in June 2019.

Offshore Energy Today staff


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Maersk drillship’s gig with Tullow cut short

Danish offshore drilling contractor Maersk Drilling has received a notification from Tullow Oil of early termination for convenience of the drilling contract for the drillship Maersk Venturer.

Maersk Venturer drillship; Source: Maersk Drilling

Maersk Drilling said in a statement on Tuesday that the drillship Maersk Venturer has been working for Tullow offshore Ghana since February 2018.

The contract, signed in late 2017, was for development drilling on the Jubilee and TEN fields offshore Ghana. It was expected to end in February 2022. However, following Tullow’s early termination decision, the rig is now expected to end the contract in June 2020.

As a consequence of the termination, Maersk Drilling’s revenue contract backlog is reduced by $175 million covering the period from the end of the contract to February 2022.

Subject to commercial prospects, Maersk Drilling said it would take measures to reduce Maersk Venturer’s operating costs following the end of the contract.

Maersk Drilling maintains the profitability guidance for 2020 of EBITDA before special items of $325-375 million.


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Prosafe to claim full contract value after EnQuest cancels rig mobilization

Following EnQuest’s cancellation of mobilization of the Prosafe-owned Safe Zephyrus accommodation rig in the North Sea, Prosafe has said it will claim the full value of the contract. 

Safe Zephyrus; Source: Prosafe

Prosafe on Monday provided an update on its ongoing operations and contracts in light of COVID-19 and the oil price crash.

According to the update, the Safe Concordia flotel is on location and dayrate, although client personnel has been demobilized. The Safe Concordia is under a contract with Equinor in Brazil.

Further, both Safe Notos and Safe Eurus flotels have been disconnected and client personnel demobilized. Both accommodation rigs are on a 95% stand-by dayrate.

The Safe Notos has been operating on a three-year and 222-day contract for Petrobras in Brazil since December 7, 2016.

The Safe Eurus is also under a contract with the Brazilian Petrobras. Awarded in May 2019, the three-year firm contract started in 4Q 2019.

Finally, the Safe Zephyrus rig was ready to mobilize from Averøy in Norway to support the Thistle project for a 21-day firm period, but was instructed by client on March 20 not to mobilize.

Prosafe said it would claim full contract value, ca. $2 million.

To remind, Prosafe was earlier in March awarded a contract to provide accommodation in support of EnQuest’s redundant subsea tank removal and safe re-habitation of the Thistle Alpha platform in the UK North Sea.

However, as the situation with the coronavirus as well as the oil price crash developed, EnQuest said last week it would not re-start production at the Heather and Thistle/Deveron fields.

Namely, as a response to the current market situation, EnQuest decided to reduce its costs. For 2020, the company is targeting base operating expenditure savings of c.$150 million, which would lower operating costs by c.30% to c.$375 million.

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Yinson seals the deal for Vietnam FPSO

Malaysia’s FPSO operator Yinson has finally managed to secure a more long-term deal for its Lam Son FPSO, which is operating offshore Vietnam. 

FPSO PTSC Lam Son; Source: PTSC

In a Bursa Malaysia filing on Monday, Yinson said that PTSC had entered into a bareboat charter contract for the Lam Son FPSO with PTSC AP.

PTSC AP is a joint venture company between Yinson and Vietnam’s PTSC. PTSC Lam Son has been operating at Thang Long – Dong Do field from June 2014.

Yinson said that the charter contract would replace the interim charter contract retroactively and will start from July 1, 2017, to June 30, 2021. To remind, the interim contract has been extended eight times, with the latest extension in mid-January 2020.

Parties will have the right to terminate the bareboat charter contract subject to a 90-day notice period. Subject to the mutual agreement of parties, the charter contract may be further extended thereafter.

The value of the contract is estimated to be $122.87 million.

The Lam Son FPSO is capable of producing 15,000-20,000 barrels of oil per day (bopd) and has a storage capacity of up to 650,000 barrels of oil. The FPSO has been operating at the at Thang Long – Dong Do fields offshore Vietnam since 2014.

Offshore Energy Today Staff


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Babcock to provide helicopter transport for three major North Sea operators

S92 Helicopter; Source: Babcock

Babcock’s Offshore business has secured a new five-year shared contract with three oil and gas operators for helicopter transport in the northern North Sea.

Babcock said on Friday that the contract would initially see the company operate over 100 helicopter flights each month from Sumburgh in Shetland, on behalf of CNR International, EnQuest, and TAQA.

Flights are expected to begin on July 1, 2020.

Babcock Offshore Director, Simon Meakins, said: “We are delighted to welcome this new customer group to Babcock Offshore and look forward to working with them.  We are committed to delivering the safe and efficient aviation support they require.”


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Sentinel Marine secures North Sea work for ERRVs

Offshore support vessel specialist Sentinel Marine has won a package of contract awards and extensions to operate its fleet of emergency response and rescue vessels (ERRVs) in the North Sea worth a total of £36 million ($46m). 

Mariner Sentinel vessel; Source: Sentinel Marine

The Aberdeen-based firm said on Thursday that the contracts were a mix of ongoing multi-year agreements and shorter-term contracts to support oilfield operators involved in decommissioning projects.

New contract wins are with Chrysaor – Bailey Sentinel will be used to support decommissioning activities in the southern North Sea – and Spirit Energy, which has chartered Biscay Sentinel to support the Borr Ran drilling rig in the Irish Sea.

There has also been an extension to the contract for Mariner Sentinel, which is chartered to Equinor’s Mariner field, and for Forties Sentinel’s contract with Ineos.

Forties Sentinel is currently tasked in the firm’s Breagh gas field in the southern North Sea in support of routine operations and drilling.

Chief executive officer, Rory Deans, said: “In an age when we are all becoming more mindful of the impact that our actions have on the environment, our clients appreciate that Sentinel Marine’s fleet is one of the cleanest and greenest in the North Sea.

“It’s estimated that our fleet is around 60% more fuel-efficient than some of the oldest ERRVs in the North Sea, and as much as 30% more efficient than ships that were built only five years ago.”


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Shell extends North Sea contract for Prosafe flotel

Offshore accommodation specialist Prosafe and oil major Shell have agreed on a contract extension for one of Prosafe’s units for operations in the UK North Sea.

Safe Zephyrus
Safe Zephyrus; Source: Prosafe

Prosafe said on Monday that it had agreed with Shell to amend the original June 1, 2020, start date of the Safe Zephyrus at the Shearwater platform to May 2, 2020, by extending the contract by 30 days.

Safe Zephyrus completed its contract for BP at Clair Ridge in the West of Shetland on October 15, 2019, and it has been in lay-up ever since.

The flotel was supposed to mobilize for the 80-day Shell Shearwater contract in 2Q 2020. However, Shell has decided to exercise its 30-day option in the contract and the timing for the rig’s contract start date has now changed.

Safe Zephyrus is a DP3 semi-submersible accommodation rig. With beds for 450 persons, in single man cabins, the vessel is designed for worldwide operations in the harshest offshore environments.

Safe Zephyrus, a sister ship to the Safe Boreas, was built at Jurong Shipyard, Singapore, to the GVA 3000E design and is equipped with a DP3 system and 12-point wire mooring arrangement providing maximum cost efficiency and flexibility. It was delivered in 2016.

The unit was granted the Acknowledgement of Compliance (AoC) from the Norwegian Petroleum Safety Authority (PSA) on July 19, 2016.

Offshore Energy Today Staff


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Eni takes Vroon’s platform supplier for work offshore UK

Italian oil major Eni has awarded a contract to one of Vroon Offshore’s platform supply vessels (PSVs).

VOS Prelude; Image: Vroon

Vroon said on Monday that the charter was awarded to the VOS Prelude PSV by Eni’s subsidiary – Eni UK Limited.

Operating out of the port of Great Yarmouth, the vessel will support a “substantial” plug and abandonment/decommissioning campaign in the southern sector of the North Sea, Vroon added.

According to the company, the VOS Prelude is fixed for 31 months firm, with further options, if required.

Vroon added that the vessel recently completed a separate charter with Eni UK, supporting a drilling campaign in the fourth quarter of 2019.

As for the vessel, the VOS Prelude is a 2010-built UT-755 LN DP2 PSV, managed and operated by VOS Den Helder.


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Total picks Maersk drillship to drill at ‘deepest water depth ever drilled offshore’

French oil major Total has selected a Maersk Drilling-owned drillship to drill at what the rig owner says will be a world record water depth in Angola-Namibia campaign. 

Maersk Voyager drillship
Maersk Voyager drillship; Source: Maersk Drilling

Maersk Drilling said on Tuesday that it had been awarded contracts for a three-well exploration drilling project by Total E&P Angola Block 32, Block 48 and Total E and P Namibia B.V. for the 7th generation drillship Maersk Voyager.

The Maersk Voyager will be employed offshore Angola and Namibia for a campaign which includes the deepest water depth ever drilled offshore, the rig owner said.

The project includes two wells offshore Angola in Blocks 32 and 48, plus one well offshore Namibia. The campaign is expected to start in January 2020, with an estimated duration of 240 days.

The total value of the firm contracts is approximately $46.3m, including a mobilization fee. The contracts include two additional one-well options.

Maersk said that the well in Angola’s Block 48 would be drilled at a new world record water depth of 3,628 m. According to the drilling contractor, the current world record is 3,400 m, set by Maersk Voyager’s sister drillship Maersk Venturer when it drilled the Raya-1 well for Total offshore Uruguay in 2016.

Morten Kelstrup, COO of Maersk Drilling, said: “We are thrilled to once again push beyond existing boundaries in collaboration with Total, drawing upon our mutual experience from the exciting deepwater exploration projects we have collaborated on over the years.”

Maersk Voyager is a high-spec ultra-deepwater drillship which was delivered in 2014. It has recently performed its scheduled Special Periodic Survey in Walvis Bay, Namibia, after completing campaigns in Ghana and Equatorial Guinea in 2019.


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Subsea 7 to net up to $750 million for Sangomar job

Australia’s Woodside has awarded a very large contract to Subsea Integration Alliance, a partnership between Subsea 7 and Schlumberger’s OneSubsea, for the Sangomar Field Development Phase 1 project located offshore Senegal.

Source: Subsea 7

Subsea 7 defines a very large contract as being between $500 million and $750 million. This value range refers to Subsea 7’s share of the consortium contract and will be included in Subsea 7’s order intake for the first quarter 2020.

This contract was initially awarded in December 2018 subject to final investment decision, which has now occurred.

Announcing the contract, Subsea 7 said on Friday that the project work scope covers the engineering, procurement, construction, transportation and installation of the SURF system and associated subsea production systems (SPS). The development will include 23 wells, 107 km of rigid flowlines, 28 km of flexible risers and jumpers, and 45 km of umbilicals in water depths between 700 metres and 1400 metres.

Offshore activities will take place from 2021 to 2023 using Subsea 7’s reel-lay, flex-lay, and light construction vessels, Subsea 7 said.

The Subsea Integration Alliance team established during the Front End Engineering Design (FEED) phase will now transition into the full EPIC phase based at Subsea 7 Global Projects Center (GPC) in Sutton, UK. SURF engineering will be performed by Subsea 7 GPC centers in Sutton and Suresnes, France. A base in Senegal will support the offshore campaign and conduct site receipt testing and equipment storage.

Gilles Lafaye, Subsea 7’s Vice President Africa Region, said: “We are delighted to expand our operations to Senegal adding to our network of local presences in West Africa.”

Stuart Fitzgerald, Deputy CEO of Subsea Integration Alliance, said: “Subsea 7 and OneSubsea, through our Subsea Integration Alliance, have been working closely with Woodside since before the FEED award. This award reflects our successful experience of previous projects delivered by the Alliance and a strong relationship built over many years with Woodside.”

Woodside has also awarded a contract to Japan’s MODEC to supply a floating production storage and offloading vessel for the Sangomar field development Phase 1 project.


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