Search results for: turritella

26 results

A list of search results

  • 17 December 2015
    Business & Finance

    The Turritella joint venture led by Amsterdam-based SBM Offshore has completed the project financing of Floating, Production, Storage and Offloading (FPSO) Turritella for a total of USD 800 million. Project financing was secured by a consortium of twelve international banks with an average cost of debt of 3.5% over the ten year post-completion maturity. FPSO Turritella […]

  • 16 November 2015

    The U.S. Gulf of Mexico will soon welcome what will be the world’s deepest moored production facility, the Turritella FPSO. Shell, the Anglo/Dutch oil giant, operates the Stones field, some 320 kilometers (200 miles) off the coast of Louisiana, and that’s exactly where the Turritella is headed. The FPSO will be used to develop the […]

  • 16 July 2015

    SBM Offshore has entered into an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating FPSO Turritella. Mitsubishi Corporation (30% interest) and NYK Line (15% interest) have acquired a 45% combined stake in […]

  • 16 July 2015
    Business & Finance

    Dutch SBM Offshore, a provider of FPSO units to oil and gas industry, has decided to sell a stake in the FPSO Turritella to Japanese Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK Line).  Namely, Mitsubishi Corporation (30% interest) and NYK Line (15% interest) have acquired a 45% combined stake in the joint venture companies incorporated for the purpose of […]

  • 2 May 2018
    Infrastructure

    Dutch oil major Shell and FPSO provider SBM Offshore have been awarded the OTC 2018 Distinguished Achievement Award.

  • 8 June 2016
    Equipment, Operations & Maintenance, Project & Tenders

    InterMoor, an Acteon company, has completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the Gulf of Mexico. The FPSO Turritella will connect to subsea infrastructure located beneath approximately 9500 ft (2896 m) of water, breaking the existing water […]

  • 8 June 2016
    Business & Finance, Equipment

    InterMoor, an Acteon company, has completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the U.S. Gulf of Mexico. InterMoor stated in a press release on Wednesday that the FPSO Turritella will connect to subsea infrastructure located beneath approximately […]

  • 16 July 2015
    Business & Finance

    Japan’s Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) have entered into a USD 590 million agreement with Dutch SBM Offshore N.V. to buy a combined 45% stake in a Floating, Production, Storage and Offloading (FPSO) system Turritella. MC (30% interest), NYK Line (15% interest) and SBM Offshore (55% interest) will charter, operate and maintain the FPSO […]

  • 16 July 2015
    Business & Finance

    Japan’s Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) have entered into a USD 590 million agreement with Dutch SBM Offshore N.V. to buy a combined 45% stake in a Floating, Production, Storage and Offloading (FPSO) system Turritella. MC (30% interest), NYK Line (15% interest) and SBM Offshore (55% interest) will charter, operate and maintain the FPSO […]

  • 17 January 2018

    Shell has taken over the ownership of the FPSO Turitella, moored at the Stones field in the U.S. Gulf of Mexico.

  • 12 July 2017
    Business & Finance, Operations & Maintenance

    Shell said it will exercise a contractual right to purchase the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore. The FPSO is a joint-venture (JV) owned by SBM Offshore with 55% interest, Mitsubishi Corporation with 30% interest and Nippon Yusen Kabushiki Kaisha (NYK Line) with 15% interest. The transaction comprises a total […]

  • 17 December 2015

    SBM Offshore, a Dutch company providing floating production solutions to the oil and gas industry, has completed the project financing of FPSO Turritella for a total of $800 million. The company said on Wednesday that project financing was secured by a consortium of twelve international banks with an average cost of debt of 3.5% over the […]

  • 12 July 2017
    Infrastructure

    Shell has exercised its option to buy SBM Offshore’s FPSO Turritella, which is being used to produce oil from Shell’s Stones field in the U.S. Gulf of Mexico. According to a statement by SBM Offshore, the acquisition allows Shell to assume operatorship of the Stones development in its entirety, creating additional efficiencies through integration of […]

  • 12 July 2017
    Business & Finance

    Shell Offshore revealed that its affiliate, Shell E and P Offshore Services, will exercise a contractual right to buy the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore. The 159,100 dwt vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year. As informed, Shell […]

  • 17 January 2018
    Business & Finance

    SBM Offshore has finalized the sale of FPSO Turritella to Shell E and P Offshore Services B.V.

  • 7 May 2014

    Dutch company SBM Offshore, one of the largest providers of floating production units in the world, has revealed a model of the FPSO to be deployed in the U.S. Gulf of Mexico. The model of what will be called the FPSO Turritella is being shown at the Offshore Technology Conference currently underway in Houston, Texas. […]

  • 9 September 2016
    Infrastructure

    Earlier this week, oil giant Royal Dutch Shell started production from the Stones development, the world’s deepest offshore oil and gas project, located in the U.S. Gulf of Mexico.  The host facility for the Stones field is the Turritella floating, production, storage and offloading (FPSO) unit owned and operated by a Joint Venture owned by affiliated companies […]

  • 6 September 2016
    Operations & Maintenance

    Shell has started production from the Stones development in the Gulf of Mexico.  Stones is expected to produce around 50,000 barrels of oil equivalent per day (boe/d) when fully ramped up at the end of 2017. The host facility for the “world’s deepest offshore oil and gas project” is a floating production, storage and offloading (FPSO) […]

  • 11 November 2015

    SBM Offshore, a Dutch provider of floaters for the offshore oil and gas industry, has reported a fall in its directional revenue. In its third quarter 2015 update, the company said that year-to-date directional revenue came in lower at $2.1 billion versus $2.5 billion in the year-ago period. This was driven by a decrease in […]

  • 15 July 2017
    Business & Finance, Equipment, Project & Tenders

    Subsea World News has put together a recap of the most interesting articles from the previous week (July 10 – July 16). TechnipFMC has shipped water injection umbilicals from its Newcastle manufacturing facility to Total in Africa for the Egina project. The long length umbilicals will be installed at a water depth of 1,600 meters […]

  • 4 October 2016
    Business & Finance, Equipment, Operations & Maintenance, Project & Tenders

    Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month. The most attention from our industry readers was reserved for the recently launched company, Rovco. The Bristol-based firm, focused on underwater integrity, remotely operated vehicles (ROVs), surveying and subsea services has secured its first […]

  • 9 August 2017

    Dutch FPSO specialist SBM Offshore has raised the expected revenue forecast for the full year 2017 on the back of the gradual recovery seen in the oil and gas industry. “As expected, the industry is witnessing a gradual recovery. Although significant decreases in project break-even prices are making deep water more competitive, our clients remain […]