Aker Energy Eyes FPSO for Ghana Project

Wednesday, February 13, 2019

Ocean Yield announced Tuesday that it has entered into an agreement with Aker Energy for the option to bareboat charter the floating production, storage and offloading unit (FPSO) Dhirubhai-1 for a period of 15 years. If the option is exercised, the FPSO is intended to be used ­­­­for early production at the Deepwater Tano Cape Three Points project offshore Ghana.

Dhirubhai-1 FPSO was previously used by Reliance on the MA-D6 field offshore India. The lease ended in September 2018, and Reliance shut down the field.

Under its recent deal with Ocean Yield, Aker Energy will pay $3 million for the option, that can be exercised before May 1, 2019. In addition, Aker Energy can extend the initial option-period by another 30 days against additional compensation. If the option is exercised, Ocean Yield will 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.

Ocean Yield’s Chief Executive Officer Lars Solbakken said, ”If the option is exercised, we expect some revenues from the FPSO already this year and increased revenue contribution from first oil, which is targeted in 2021.”

Aker Energy is, through its subsidiary in Ghana, the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana with a 50% participating interest.

Categories: Contracts Vessels FPSO Floating Production Africa

Related Stories

ExxonMobil Looks to Sell Australian Assets

New Age Sells Stake in Marine XII

What Became of the Toisa OSV Fleet?

P-68 FPSO Ready for Deployment

Baltim South West Gas Field Starts Production

VAALCO Spuds Etame Appraisal

ASCO Vessel Om Back in Operation

Aasta Hansteen Output Can Exceed Max Capacity

Big Data, Security & Remote Ops

Chevron to Boost St. Malo Production

Current News

Ørsted to Deploy GE's 12MW Offshore Turbine

Chevron to Boost St. Malo Production

Bibby Taps Real-time Wave Data

Europa Lands High Impact Venture Offshore Morocco

Talos Making Moves in the Gulf of Mexico

Mitsui Looks to Sell BassGas Stake

First Subsea to Cover Formosa 1

Oceaneering Wins Umbilicals Job Off India

Equinor Picks Stowen for Sheringham Shoal

Ørsted Picks Hellenic Cables for UK Projects

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week