Ocean Yield, Aker Energy Extended FPSO Dhirubhai-1 Charter Option
- Business & Finance
Norway-based shipping company Ocean Yield has extended the option for long-term charter for the FPSO Dhirubhai-1 by 30 days.
The company entered into the option agreement with Aker Energy in February 2019, for which Aker paid USD 3 million.
Under the deal, the initial option period was to expire on May 1, 2019, with an extension period of up to 30 days against an additional compensation.
If exercised, Aker Energy would bareboat charter the FPSO for a period of 15 years, to be used for an early-production project offshore Ghana.
Ocean Yield earlier said that it would finance the modification of the FPSO against a competitive charter rate that reflects the book value of the unit and the cost of the modification if Aker Energy exercises the option. The company added that it would not be exposed to risks related to the modification or be involved in the operation of the vessel.