Floating Production's Future: The 6 Things You Need to Know Now
Have Been Impacted by the LNG Glut The FLNG market is looking a bit weak as a result of the LNG supply glut that has developed over the past year. Two FLNGs under construction have hit obstacles. One unit, the almost completed Exmar Caribbean LNG barge, is without a field as a result of the field operator’s decision to terminate the LNG project in Colombia. The other unit, PFLNG Dua under construction in Korea, has been “re-phased" by Petronas to curtail capital expenditures – and construction will likely be suspended once the hull is finished. Several planned
Talisman Sinopec Energy UK to Cut 300 Jobs
North Sea oil and gas field operator Talisman Sinopec Energy UK said it would cut 300 jobs due to falling production levels and rising operating costs hurt by low oil prices. The company said the number represented a split between 100 employees and 200 contractor positions. The company also introduced immediate reductions in contractor rates. Talisman Sinopec Energy UK is a joint venture between Canada's Talisman Energy Inc and Addax Petroleum UK Limited, a wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group). The company has a total workforce
