Gulf Oil and Gas accountACCOUNT

Contract Extension for FPSO Petroleo Nautipa

Source: www.gulfoilandgas.com 10/17/2007, Location: Africa

Tinworth Pte Ltd (indirectly owned 50% by each of Fred.Olsen Production ASA and Prosafe) has entered into an agreement with Vaalco, Gabon to extend the contract for FPSO Petroleo Nautipa. The FPSO operates at the Etame field offshore Gabon, West Africa. Through this agreement the current contract has been extended with 4 years from September 2011 until September 2015 and with options for another 1 + 1 year.

As part of the agreement the water treatment capacity on FPSO Petroleo Nautipa will be increased at the expense of the Etame partners. Also, the field operator will be entitled to increase oil production beyond the current contractual capacity of the FPSO against the introduction of a new tariff element in the compensation structure. The Etame partners have an option to terminate the contract if drydocking of Petroleo Nautipa is required in 2012.

Total EBITDA-contribution from the tariff element in the compensation structure and the additional 4 years to 2015 is estimated to USD 40 million.

FPSO Vessels and Equipment News in Gabon >>

Norway >>  2/15/2019 - Maersk Maker, the final vessel of Maersk Supply Serviceís Starfish AHTS newbuilding series, was delivered yesterday from Kleven Yard. The vesselís arr...
Brazil >>  1/24/2019 - Prosafe has participated in an online auction for the supply of safety and maintenance support vessels to Brazil and on conclusion of the auction achi...

Cyprus >>  1/24/2019 - SeaBird Exploration is pleased to announce the extension of two existing contracts: The contract for the Voyager Explorer, which is working on an ocea...
Netherlands Antilles >>  1/21/2019 - Damen and High Speed Transfers Ltd (HST) have signed a contract for a third FCS 2710 fast crew supply vessel, for delivery in September this year. The...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Gabon Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Gabon >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.