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