Despite declining domestic production and ambitions to pivot away from fossil fuels, oil and gas still meet three-quarters of the UK’s energy needs, with gas alone supplying over 85% of domestic heating and cooking for homes and often providing more than half of electricity generation during low renewable output.
Yinson Production has completed the buy-out of the project loan tied to FPSO Atlanta from Brava Energia S.A., paying a total of approximately $257.4 million in cash, including $255.5 million in principal and $1.9 million in accrued interest.
Petrobras posted a 5% rise in oil and gas production in Q2 2025 compared to Q1, a performance the company attributes to the ramp-up of several FPSOs.
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.
Japan’s MODEC has delivered a structure that will form part of a floating production storage and offloading (FPSO) unit to be deployed to a project offshore Guyana operated by ExxonMobil, a U.S.-headquartered oil and gas giant.
Seatrium Limited has announced the impending delivery of the PETROBRAS 78 (P-78) – the first of a series of turnkey Floating Production Storage and Offloading vessels (FPSO), to Brazil’s Petrobras.
“Supporting the Triton FPSO marks a significant milestone for our North Sea operations and aligns with our wider global growth strategy. Securing this long-term partnership with Dana Petroleum is a testament to our technical capabilities, innovation, and ability to deliver value across the full lifecycle of an asset. We work on FPSO assets around the world, providing expert pre-commissioning through to end-of-life services, and this agreement highlights our ongoing commitment to safe, efficient, and sustainable operations”, Charles Davison Jr., EnerMech CEO, said.
“This contract reinforces SBM Offshore’s long-term strategic partnership with TotalEnergies and marks a significant milestone as SBM Offshore becomes the first FPSO operator in Suriname,” SBM stated in a news release on Thursday. “It is a testimony to SBM Offshore’s focus on excellence throughout the entire project’s lifecycle, from the allocation of our eighth Fast4Ward® MPF hull to our extensive experience in asset management supporting TotalEnergies’ operations.”
Australia’s Santos Ltd. said the BW Opal floating production, storage, and offloading (FPSO) vessel arrived at the Barossa gas field. This is a critical milestone on the path to first gas in the third quarter of 2025, Santos said in a media release, adding that the FPSO has been hooked up with final commissioning already in progress.
Yinson Production has closed a USD 1-billion investment from an international consortium to support its future growth in offshore energy, the company said on Tuesday.