BW Offshore secures more work for its FPSO in Brazil
- Business & Finance
BW Offshore, a Norway-based provider of floating production facilities, has secured a contract extension for one of its FPSOs in Brazil.
The extension for lease and operation of the FPSO Polvo is for two years. The FPSO is operating on the Polvo field offshore Brazil.
According to BW Offshore the firm period has been extended to Q3 2018 (from Q3 2016), with options until Q3 2022. BW Offshore did not provide the financial details of the agreement.
As for the Polvo field, it is operated by the Brazilian company PetroRio (former HRT). PetroRio holds a 60% participating interest in the Polvo Field, which is located in the southern portion of the Campos Basin, at 100km east of the city of Cabo Frio, Rio de Janeiro.