BW Offshore, Eni agree on Abo FPSO lease extension

  • Business & Finance

FPSO operator BW Offshore has signed an extension agreement for the lease of the Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of Italian oil company Eni.

Tanker Miltiadis moored to Abo FPSO; Image by: Ciacho; Source: Wikimedia – under the CC BY-SA 3.0 license

BW Offshore said on Tuesday that the extension with Agip would last until June 30, 2019.

The previous deal for the FPSO was signed in May this year following the expiration of an interim extension agreement for the vessel on April 30.

The May contract comprised a firm period of two months and a nine-month further extension period on the same terms. At the time, BW’s deal with Agip meant that the lease would end on March 31, 2019.

As for the Abo FPSO, it has a storage capacity of 930,000 barrels of oil and oil treatment capacity of up to 45,000 bopd, a water injection capacity of 30,000 bwpd and a gas compression capacity of 48,4 mmscfd.

The FPSO Abo has been working on the Abo field offshore Nigeria with Agip since the beginning of production in 2003. The field is located in the OML 125 license some 40 kilometers off the Nigerian coast on the western edge of the Niger Delta, at a water depth of 550 m to 1,100 m.

Agip Exploration is the operator of the field with 85 percent interest, and Oando is the partner with 15 percent interest.

Offshore Energy Today Staff

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