Australian exploration firm AWE has agreed a one year contract extension for the lease and operation of the FPSO Umuroa, operating on the Tui Area oil project, offshore New Zealand, from Norway-based BW Offshore.
As a result, the contract period has been extended to Q4 2016 (from Q4 2015). AWE has options up to 2022 for use of the turret-moored FPSO.
The unit has 50,000 bbl/d oil production capacity and 25MMscf/d gas compression capacity, with 775,000 bbl storage.
The Tui area project is in PMP 38158, in the Taranaki basin, operated by AWE (57.5%) with partners NZOG (27.5%), and Pan Pacific (15%). First oil was in 2007.
