Huntington floater deadline extended

Offshore staff

ARENDAL, Norway -- Sevan Marine and E.ON Ruhrgas UK E&P have agreed to extend an exclusivity period for negotiations over use of the Sevan Voyageur FPSO on the Huntington field in the UK North Sea.

The cut-off date is now Aug. 16, to allow for completion of all required documentation relating to the charter of the FPSO.

The proposed arrangement is for a firm fixed five-year term with options for further extensions. According to Sevan, the contract value as now defined would be $535 million for the fixed term.

Participants in Huntington are:
E.ON Ruhrgas UK E&P Ltd (25%, operator)
Premier Oil ONS (40%)
Noreco (20%)
Carrizo Oil & Gas (15%).


07/01/2010