SBM Offshore has entered into a shareholders' agreement with long-standing business partner NYK to divest a 45% ownership interest in the special purpose companies related to the lease and operation of the Chalchi floating storage and offloading (FSO) unit.The offshore energy services provider said it would remain the majority shareholder with a 55% ownership interest. The proposed transaction remains subject to several conditions precedent and approvals…
Petronas has confirmed that an incident occurred during lifeboat maintenance work at the Sepat floating, storage and offloading (FSO) unit offshore Malaysia, resulting in three fatalities and one injury.The incident occurred at approximately 12:50 p…
Yinson Production has secured a $131.5 million senior secured bank financing facility together with joint venture partner PTSC for a floating storage offloading (FSO) vessel being built for the Block B gas project offshore Vietnam.The company said the facility…
Malaysia’s MISC has secured long-term bareboat charter and operations and maintenance contracts with ExxonMobil PNG (EMPNG) for Papua New Guinea’s first floating storage and offloading (FSO) unit.The contracts comprise a firm 15-year charter with extension options of up to an additional 15 years…
Malaysia's Yinson Production has held a steel cutting ceremony for a floating storage and offloading (FSO) unit, bound for deployment at Block B gas field offshore Vietnam.The steel cutting ceremony, held on December 19, 2025, marked the construction start of the FSO Block B…
Yinson Production, via its joint venture PTSC South East Asia (PTSC SEA), has secured a lease and operate contract for a new floating storage and offloading (FSO) unit for Vietnam’s offshore Block B gas development.The contract was awarded by Phu Quoc Petroleum Operating Company (PQPOC)…
PTSC Asia Pacific, a joint venture between Yinson Production and PetroVietnam Technical Services Corporation (PTSC), has secured a contract for the provision, charter, operation and maintenance of the floating storage and offloading (FSO) vessel for the Lac Da Vang project offshore Vietnam…
Canada-based oil and gas company Valeura Energy has completed the acquisition of the floating storage and offloading (FSO) vessel Aurora, which is already on location at its Nong Yao field, in the Gulf of Thailand.The acquisition was the result…
Classification society ABS said it has granted an approval in principle (AIP) to OceanSTAR Marine & Offshore Investment Pte. Ltd., for its newbuild floating storage and offloading (FSO) design.The OceanSTAR FSO-01 is a shipshape hull design…
Valeura Energy said Friday it had temporarily suspended production operations at the Wassana oil field, offshore the Gulf of Thailand after the floating storage and offloading vessel (“FSO”) stationed at the field deviated from its intended…
PTSC South East Asia (PTSC SEA) has received a 5-year extension for the bareboat charter contract for FSO PTSC Bien Dong 01.PTSC South East Asia is a joint venture between Malaysia's Yinson Production (“YP”) and PetroVietnam Technical Services Corporation (PTSC)…
The United Nations on Thursday fell far short of raising the money it needs for an operation to salvage 1.1 million barrels of oil from a decaying vessel moored off Yemen's coast and avert an environmental disaster.U.N. officials have been warning…
Authorities in Thailand on Thursday were working to avert a leak from a storage vessel carrying 400,000 barrels of crude oil.One crew member was killed after seawater entered the hull of the Benchamas 2 when a seal malfunctioned during maintenance earlier this week…
Malaysia Vietnam Offshore Terminal's FSO Golden Star has received the first condensate at the Sao Vang and Dai Nguyet (SVDN) Project offshore Vietnam.MVOT is a 51% MISC Berhad (MISC) owned joint venture with PetroVietnam Technical Services Corporation (PTSC)…
Oil and gas firm Jadestone Energy has signed new offtake arrangements for its Stag offshore oil field in W. Australia as the FSO used to take oil off the Stag platform is set to retire.Jadestone’s Stag oilfield produces crude oil via a fixed leg…
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