Nigeria: Agip Exploration Extends Abo FPSO Contract

Nigerian Agip Exploration Limited has exercised the first of two 12-months extension options for Abo FPSO.

The extension will be effective from early April 2011. The gross value is approximately USD 30 million.

About Prosafe Production

Prosafe Production is one of the world’s leading FPSO contractor. The fleet currently consists of eight FPSOs, two FSOs and one VLCC conversion candidate. The Group has approximately 1,000 employees and the head office is located in Limassol, Cyprus.

On 13 September 2010 it was announced that Prosafe Production and BW Offshore has agreed to combine in order to create the world’s second-largest FPSO contractor. The combined company will have a fleet of 18 units in operation, whereof 15 are FPSOs, in addition to three units under conversion.

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Source:Prosafeproduction , October 8, 2010;