Okwori FPSO secures extension

Sendje Berge Ltd. and Addax Petroleum Exploration (Nigeria) Ltd. have agreed to a four-year fixed term contract extension for the FPSO Sendje Berge on the Okwori field offshore Nigeria.

FPSO Sendje Berge
FPSO Sendje Berge

Offshore staff

LAGOS, Nigeria– Sendje Berge Ltd., a subsidiary of BW Offshore Ltd., and Addax Petroleum Exploration (Nigeria) Ltd. have agreed to a four-year fixed term contract extension for the FPSOSendje Bergeon the Okwori field offshore Nigeria.

The contract, which begins on Nov. 6, 2017, includes two additional one-year extension options. The revised and agreed commercial terms include a new day rate partially linked to oil production volumes and oil price.

The termination notice announced on May 5, 2017, has been withdrawn and the arbitration has been settled as part of the agreed terms.

10/27/2017

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