Sevan Marine subsidiary KANFA has won a Letter of Award for the Engineering, Procurement and Construction of four process modules for Eni’s FPSO Yinson Production, destined for the Italian operator’s Offshore Cape Three Points block offshore Ghana.
The contract is expected to take up to 15 months to complete, with the value put at approximately US $50 million. The FPSO will be deployed in the OCTP block in the Tano Basin, around 60 km offshore. The block is operated by Eni’s subsidiary Eni Ghana, with its partners being Vitol Upstream Ghana Ltd. and the state-owned Ghana National Petroleum Co.
Analysts are optimistic about Argentina's offshore oil and gas sector, while concerns surround development of the Vaca Muerta Shale.
Bahrain’s state-owned Tatweer Petroleum said it would sign agreements within a few weeks with Italian oil major Eni and Japan’s JX Nippon to develop the Bahrain Field.
The agreement covers Block A offshore Ras Al Khaimah, one of the seven United Arab Emirates (UAE).