CAMAC inks FPSO deal

February 19, 2014

CAMAC Energy announced today that a long-term contract has been signed for the floating, production, storage, and offloading vessel (FPSO) Armada Perdana for continued use offshore Nigeria.

The contract provides for an initial term of five years, beginning 1 January 2014, with an automatic extension for an additional two years, unless terminated by CAMAC with prior notice.

The company plans to use the FPSO for its multi-year, high-impact development and production operations in Nigeria.

FPSO Armada Perdana has a production capacity of 40,000 bbl/d, and storage capacity of 1.1MM bbl. It currently supports daily production of about 2000 barrels of oil and 40MMcf of natural gas from the Oyo Field in OML Block 120, offshore Nigeria.



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