Norwegian floating production provider BW Offshore has obtained an extension to the FPSO Polvo operating offshore Brazil.
Oslo-listed BW said it had secured a one-year extension to the firm lease and operation contact period for the floating production vessel from Q3 2014 to Q3 2015.
Brazil’s HRT operates the field with a 60% interest, with Maersk holding 40% field equity. BW has also agreed to acquire 30% of the Polvo field equity from HRT.
BP sold its 60% operated stake in the field, which lies in the southern end of the deepwater Campos Basin, to HRT last May for US $135 million.
The FPSO Polvo has processing capacity for 100,000 b/d of oil and up to 8 MMcf/d of gas compression, and is equipped with a mooring turret. The vessel has storage capacity for up to 1.6 MMbbl of oil. Currently the ship has options to operate for HRT up to Q3 2022.
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