Oslo-listed FPSO leasing firm BW Offshore has signed a short-term contract extension for the Abo FPSO in Nigeria.
The contract, which runs until January 14, 2023, is with Nigerian Agip Exploration Ltd, a subsidiary of the Italian oil giant Eni. BW Offshore said that the short-term extension would allow time to finalize terms for a further contract extension.
To remind, Eni had, in January 2022, extended its contract for BW Offshore's Abo floating production storage and offloading (FPSO) vessel for one year
At the time, it was said that, under the extension, the FPSO, used for production from the Abo field offshore Nigeria, would remain on the contract until the end of the fourth quarter of 2022, with options until the second quarter of 2023.
The FPSO contract was previously extended by one year in January 2020, and another in January 2021.
The Abo FPSO, converted by Keppel from the 1976-built single-hull Suezmax tanker Grey Warrior, was previously owned by Prosafe. According to World Energy Reports data, it began producing in 2003.
Spread-moored, the FPSO has the capacity to produce 44,000 barrels a day of oil and has a gas compression capacity of 48.4 mmscfd. The FPSO can store 930,000 barrels of oil.