BW Offshore has secured a one-year extension for the lease and operation of the FPSO Polvo with Petrorio.
The firm period has been extended from Q3 2018 to Q3 2019.
Furthermore, the contract has an extension options until Q3 2022, the company noted.
The FPSO is operating on the Polvo field, located in permit BM-C-8 in the southern part of Campos basin, approximately 100 kilometers offshore Rio de Janeiro, Brazil.
BW Offshore’s FPSO Polvo is capable of handling a daily oil production of 90,000 barrels of oil per day (bopd) and having a storage capacity of 1.6 million barrels.