Another Oil Contract Extended: Shell and Bw Offshore Sign Agreement for Engineering, Procurement, Construction, and Installation (EPCI) Services of an FPSO, Scheduled for Delivery in 2026

Written by Roberta Souza

Published on 12/11/2022 at 09:46

Foto: reprodução production.bwoffshore.com

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Oil And Gas Offshore Giants Extended The Agreements Signed This Year For Exploration Fields Until February 2023

Shell, a giant based in the United Kingdom, and its partners extended the limited notice to proceed (LNTP) with BW Offshore and Saipem, covering early stage engineering and supplier reservations for the provision of a FPSO aimed at an offshore oil and gas field in Brazil.

BW Offshore announced the extension of the LNTP related to the supply of an FPSO for the Gato do Mato oil and gas field on Thursday, the 10th. This follows the granting of the LNTP, valued at up to US$50 million, in May 2022, and the extension is valid until February 15, 2023.

After the completion of the extension period, a consortium composed of BW Offshore and Saipem (Shell is not included) has the option to receive the lease and operation contract, depending on funding and the project reaching a final investment decision (FID).

ARTICLE CONTINUES BELOW

What Is A FPSO?

What Is Included In The Contract?

According to what was stated by BW Offshore, this consortium signed with Shell will be responsible for the engineering, procurement, construction, and installation (EPCI) of the FPSO with delivery scheduled for 2026. If this pre-salt development project reaches FID and proceeds, the lease of the FPSO and operation will have a term of 18 years with seven years of options.

Located in the Santos Basin, approximately 200 km off the Brazilian coast, in water depths of about 2,000 meters, the Gato do Mato oil exploration project is a pre-salt gas-condensate discovery that spans two adjacent blocks: BM-S-54 and South of Gato do Mato.

After Shell delivered a 30% stake in its Gato do Mato project to Colombian Ecopetrol, the oil company has a 50% stake in this project, while TotalEnergies holds the remaining 20%.

Regarding the activities of BW Offshore and Shell elsewhere, it is worth noting that the operator of the oil exploration FPSO recently secured a short-term contract extension for an FPSO operating in offshore waters in Nigeria.

Another Oil Contract Extended: Shell and Bw Offshore Sign Agreement for Engineering, Procurement, Construction, and Installation (EPCI) Services of an FPSO, Scheduled for Delivery in 2026

Oil And Gas Offshore Giants Extended The Agreements Signed This Year For Exploration Fields Until February 2023

What Is A FPSO?

What Is Included In The Contract?

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Another Oil Contract Extended: Shell and Bw Offshore Sign Agreement for Engineering, Procurement, Construction, and Installation (EPCI) Services of an FPSO, Scheduled for Delivery in 2026

Oil And Gas Offshore Giants Extended The Agreements Signed This Year For Exploration Fields Until February 2023

What Is A FPSO?

What Is Included In The Contract?

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

Scientists have discovered that the Earth recycles its own continents in the depths, dragging pieces of crust down during plate collisions and returning them later as magma, in a mechanism called relamination that has helped build the continents for billions of years.

Turkey is building a billion-dollar shortcut to channel billions of dollars by sea with a 45 km long canal, 275 meters wide and 20.75 meters deep, which promises to relieve the Bosphorus amid the crisis in the Strait of Hormuz.

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