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BW Offshore Receives Contract Extension for Sendje Berge FPSO

Source: www.gulfoilandgas.com 10/23/2017, Location: Africa

Sendje Berge Limited, a subsidiary of BW Offshore Limited (BWO), has now agreed terms of a contract extension for the FPSO Sendje Berge with Addax Petroleum Exploration (Nigeria) Ltd (Addax) on the Okwori field offshore Nigeria which have been duly submitted to relevant Nigerian Authorities for their review and approval.

The contract extension will be for a four-year fixed term with two additional one-year extension options, commencing 6 November 2017. The revised and agreed commercial terms include a new day rate partially linked to oil production volumes and oil price. The termination notice announced on 5 May 2017 has been withdrawn and the arbitration has been settled as part of the agreed terms.

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

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