Nexus enters into negotiations for FPSO

Rick Wilkinson
OGJ Correspondent

MELBOURNE, Feb. 16 -- Nexus Energy Ltd., Melbourne, has entered negotiations with Single Buoy Moorings (SBM) for the supply of a floating production, storage, and offloading vessel for its Crux liquids project in the Browse basin off Western Australia.

The negotiations center on the integrated construction, supply, and operation of an FPSO.

SBM has already been involved in the engineering and design of the gas processing, liquids extraction, and compressions facilities for the project.

Nexus says it also has finalized a settlement with FPSO supplier Viking Oil & Gas International and Viking Shipping following the termination of a memorandum of understanding signed in 2007 for the project. Nexus will pay Viking $12 million by the end of May. A further contingent payment of $5 million is to be made later in 2009 if certain unstated major divestment and liquidity events occur.

Nexus operates the Crux project with 85% interest. Osaka Gas holds the remaining 15%.

Related Articles

White House eyes steps to curb oil, gas methane emissions

03/29/2014 The White House announced additional steps to reduce methane emissions from oil and gas operations as part of a broader strategy. They included reg...

Sinopec reveals Fuling field production capacity goals

03/25/2014 Sinopec plans to develop Fuling shale gas field in southwestern China to a production capacity of 10 billion cu m (bcm)/year by 2017, the company s...

IEA: Global oil demand revised upward on stronger data

03/24/2014 Global oil demand in 2013 rose by 1.3 million b/d year-over-year to 91.3 million b/d, according to the latest, near-complete set of demand data for...

Santos brings Peluang gas development on stream

03/24/2014

Santos Ltd., Adelaide, has started natural gas production from its Peluang development offshore the Indonesian island of Java.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected