Petrofac Extends FPSO Lease in Thailand

Petrofac has extended the lease for its Jasmine Venture floating production, storage and offloading (FPSO) vessel in the Gulf of Thailand, Reuters has reported.

The FPSO vessel, renamed into FPF3 back in 2011, has been moored at the Mubadala Petroleum-operated Jasmine field, offshore Thailand, since 2004. Oil is produced from a multi-platform complex to the FPSO, where the crude oil is separated from water and gas and stored until it is lifted to a sales tanker.

Petrofac provides operations and maintenance services for the FPF3 through its Offshore Projects & Operations business, on behalf of Mubadala Petroleum.

In December 2013, Petrofac celebrated the milestone of four years without a Lost Time Incident on the FPF3 vessel. According to information on Petrofac’s website, the company is working on extending the ABS Class life of the FPSO until 2018, which entails changing the mooring wires in early 2014.

Reuters did not provide more information on the length of the lease, but according to a report found on Petrofac’s website, Mubadala had an option to extend the lease for three more years.

Neither Petrofac nor Mubadala responded to an e-mail seeking confirmation, sent by Offshore Energy Today.

Update 29.1.2014

Petrofac has officially confirmed the extension for up to four additional years.

Rob Jewkes, Chief Operating Officer, Petrofac Integrated Energy Services, said: “We are delighted that Mubadala Petroleum Thailand has extended the lease on the Jasmine Venture FPSO. As both owner of the FPSO and its service provider, Petrofac will continue to support our client’s requirements on this project while working with them to identify potential areas for further support on this and future projects in the Gulf of Thailand.”
David Johnson, President, Mubadala Petroleum Thailand, said: “We appreciate Petrofac’s support on the Jasmine field, through the lease of critical field infrastructure and associated operations and maintenance services. The safe and cost effective provision of these services is an important element of our plans to continue to extend the profitable life of the field, which has just recorded 50 million barrels of oil production, significantly beyond original expectations.”