Daily Archives: May 8, 2017

Klaipedos Nafta’s LNG terminal April revenue up

By LNG World News Image courtesy of Klaipedos NaftaKlaipedos Nafta, the operator of the first Lithuanian LNG terminal reported a 12.2 percent jump in sales revenue from the facility during the month of April 2017. Sales revenues from the facility in April reached €5.5 million (US$6 million) compared to €4.9 million in the corresponding month…

Ophir close to securing $1.2B Fortuna FLNG loan

By Offshore Energy Today Ophir Energy, the operator of the Fortuna gas field offshore Equatorial Guinea is close to securing the financing needed for the FLNG development. The company, which aims to make the final investment decision on the project in mid-2017, has reportedly received backing from unnamed Chinese banks. According to a Reuters report…

Kosmos cuts losses, slashes capex after ‘refining’ work program

By Offshore Energy Today.. American oil and gas company Kosmos Energy tightened its net loss during the first quarter 2017 boosted by an increase in oil revenues and slashed its capex for 2017 by $25 million. According to its report on Monday, the company generated a net loss of $28.8 million for the first quarter…

Sea Trucks in ‘provisional liquidation’

By Offshore Energy Today Sea Trucks Group Limited, a provider of offshore vessels and services, has been placed under provisional liquidation. In a statement on Monday, the company said that the Eastern Caribbean Supreme Court in the High Court of Justice British Virgin Islands had placed Sea Trucks had appointed Chad Griffin of FTI Consulting…

Due Diligence: Looking beyond Financial Performance

By Jeroen Swillens By DNV GL With oil and gas industry mergers and acquisitions expected to pick up this year, buyers and sellers need to focus on more than financials during due diligence. Other key considerations include environmental and safety impacts of projects or assets. Companies in the oil and gas sector are expecting increased…

Australia: MUA slams Farstad ‘retaliation’

By Offshore Energy Today Maritime Union of Australia is taking Farstad, an offshore support vessel owner, to Fair Work Commission, Australia’s national workplace relations tribunal, over the latter’s announcement it will lay off 80 workers. The union alleges that Farstad is retaliating for the MUA’s decision not to accept Farstad’s non-union agreement for its members…

Shell says Prelude FLNG to start production in 2018

By LNG World News Shell’s giant Prelude FLNG facility will come on stream offshore Western Australia next year, Chief Financial Officer Jessica Uhl said. “Prelude remains on schedule… We’ve indicated that start-up was in 2018 and we remain confident in that timing,” Uhl told journalists on a conference call on May 4 after discussing the…

Kosmos Energy hits more gas off Senegal

By LNG World News Kosmos Energy said it has made a major gas discovery at the Yakaar-1 well offshore Senegal. Located in the Cayar Offshore Profond block approximately 95 kilometers northwest of Dakar in nearly 2,550 meters of water, the well has been drilled to a total depth of approximately 4,700 meters. Yakaar-1 is the…

Kosmos hits ‘major’ gas discovery off Senegal

By Offshore Energy Today.. Oil and gas exploration and production company Kosmos Energy on Monday announced what it claims to be a “major” gas discovery offshore Senegal. According to the company’s statement, Yakaar-1 is the first well in a series of four independent tests of the basin floor fan fairways, outboard of the proven slope…