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International Maritime Associates, Inc.

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May 2023 Monthly Floating Production Systems Report

May 2023 Monthly Floating Production Systems Report

Pullback in crude prices from 2022 highs lowered profits of upstream companies in Q1 2023. But upstream operators are rolling in cash and market sentiment remains very strong, with wide expectations that near term oil demand will continue to grow. There continues to be a deep queue of near-term floating production projects. Thirty-seven floater projects are lined up for an investment decision within the next 18 months…

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Floating Production News

MODEC Confirms Its First FPSO Order in Guyana

May 9, 2023

Japan's MODEC said Monday it would proceed with engineering, procurement ,  and construction…

Bumi Armada Sells Armada Claire FPSO

April 26, 2023

Malaysian FPSO leasing company Bumi Armada said Tuesday it had completed the sale…

Energy News

ADNOC Drilling Expands Fleet with $75 Million Purchase of Six Hybrid Power Land Rigs

May 26, 2023

UAE-based drilling company ADNOC Drilling said this week it had signed a $75 million deal to buy six newbuild hybrid power…

Neptune Energy Starts Production from Gas Well in Germany

May 25, 2023

Oil and gas company Neptune Energy started production from its production from its operated Adorf Z17 gas well in the municipality of Georgsdorf…

Chevron to Buy PDC Energy in $7.6 bln Deal

May 22, 2023

Chevron Corp said on Monday it would acquire PDC Energy Inc in an all-stock transaction for $7.6 billion, including debt…