Petrobras has exercised an option to extend the fixed term of the lease contract for the floating production, storage and offloading (FPSO) vessel the BW Pioneer from Q1 2017 to Q1 2020.
The FPSO BW Pioneer started work on the Cascade Chinook oil and gas field for Petrobras in the US Gulf of Mexico in February 2012 under a fixed five-year contract up to 2017 with an optional period of up to three years.
In addition, BW Offshore will in Q2 2016 replace parts of the subsea mooring system for the FPSO BW Pioneer.
The cost for the replacement will be partly covered by insurance. During the replacement, the FPSO BW Pioneer will be disconnected.
The replacement campaign is expected to result in approximately two months of downtime.