BW Offshore Gets Contract Extension for FPSO Polvo
BW Offshore (XY8.F) has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022.
The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017.
BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract, with extension options of up to 18 years.
The Catcher field partnership is made up of Premier Oil (PMOIF) (50%), Cairn Energy (CRNZF) (20%), MOL Group (20%) and Dyas (10%). The unit has an oil storage capacity of 650,000 barrels and a processing capacity of up to 60,000 barrels per day. The BW Catcher FPSO has a design life of 20 years of uninterrupted operations.
BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore has a fleet of 15 owned FPSOs and one FSO represented in all major oil & gas regions world-wide. BW Offshore has a long track record on project execution and operations. In more than 30 years of production, BW Offshore has executed 38 FPSO and FSO projects.
