One Energy News – Breaking

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• MODEC’S FPSO ERREA WITTU ARRIVES IN GUYANA AHEAD OF UARU START-UP
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  MODEC’s FPSO Errea Wittu has arrived in Guyana, where it will undergo final offshore preparations and commissioning ahead of first oil from the Uaru development in the Stabroek Block.
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  The FPSO is designed to produce approximately 250,000 barrels of oil per day and treat 540 million cubic feet of associated gas per day. First oil is expected in the fourth quarter of 2026.
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  Developed for ExxonMobil Guyana, Errea Wittu will serve the Snoek, Mako and Uaru resources. The Uaru development represents an investment of approximately US$12.7 billion.
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• NAVITAS MOVES FORWARD WITH SECOND FPSO FOR SEA LION
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  Navitas Petroleum has exercised an option to acquire the OSX-1 as a second FPSO for the Sea Lion development offshore the Falkland Islands.
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  The acquisition is valued at approximately US$125 million, excluding anticipated upgrade costs. Navitas estimates that adding the second FPSO could increase Sea Lion’s production capacity by a further 125,000 barrels of oil per day and accelerate subsequent development phases.
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  The Aoka Mizu FPSO will serve the first two development phases, with first oil from the initial phase targeted for the first quarter of 2028. OSX-1 is planned for the subsequent development of the Central Development Area.
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• RAIA GAS PIPELINE PROJECT ADVANCES TOWARD 2028 START-UP
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  Equinor’s Raia project continues to advance toward its planned 2028 start-up. Its approximately 200-kilometer offshore gas pipeline will connect the Raia FPSO directly to Brazil’s gas transportation network near Cabiúnas, in Macaé.
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  The project will have capacity to export 16 million cubic meters of natural gas per day, potentially supplying around 15% of Brazil’s gas demand.
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  Raia represents an investment of approximately US$9 billion. Equinor operates the project with a 35% interest, alongside Repsol Sinopec Brasil with 35% and Petrobras with 30%.
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• MCDERMOTT SECURES US$1 BILLION-PLUS EPCI CONTRACT FROM ADNOC
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  McDermott has secured an EPCI contract valued at more than US$1 billion from ADNOC for Package 4 of the Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project offshore the United Arab Emirates.
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  The scope covers a new offshore surface pressure boosting facility, including a jacket and topside, as well as brownfield modifications to existing facilities. The project is designed to maximize gas recovery and increase production from the Umm Shaif field.
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  Engineering and project management will be led from the UAE, while fabrication will take place at the Qingdao McDermott Wuchuan yard in China.
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• BRASKEM FILES US$10.9 BILLION EXTRAJUDICIAL REORGANIZATION WITH 39.6% CREDITOR SUPPORT
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  Braskem has filed for extrajudicial reorganization in São Paulo covering approximately US$10.9 billion in unsecured financial obligations, opening a new phase in the petrochemical company’s debt restructuring.
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  The filing, submitted on August 24, has initial support from creditors representing 39.6% of the affected claims. The process provides a protected period while Braskem continues negotiations with creditors toward an updated restructuring plan.
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  The plan has the support of the company’s main shareholders, Shine I, controlled by IG4 Capital, and Petrobras. Its scope is strictly financial and does not include obligations to suppliers, customers and other stakeholders, which the company says continue to be fulfilled normally.
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