BW Offshore has secured a one-year extension for the lease and operation of the Polvo floating production storage and offloading (FPSO) unit.
Under the terms of the agreement signed with Petrorio, the firm period has been extended from Q3 2018 to Q3 2019, with options until Q3 2022.
FPSO Polvo is a 299,930 cbm FPSO tanker built in Japan in 1981.
Separately, BW Offshore said that the BW Catcher FPSO received the first oil certificate on January 6, 2018. This follows the completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on December 23, 2017.
As informed, the certificate confirms the commencement of a seven-year fixed term contract, with extension options of up to 18 years.
Currently, BW Offshore has a fleet of 15 owned FPSOs and one floating storage and offloading (FSO) unit.