Nexen secures lower day rate for North Sea Ettrick FPSO

Nexen Petroleum UK has signed an amendment agreement with Bluewater for the Aoka Mizu FPSO serving the Ettrick and Blackbird fields in the UK central North Sea.

Offshore staff

TORSHAVN, Faroe Islands – Nexen Petroleum UK has signed an amendment agreement with Bluewater for the Aoka Mizu FPSO serving the Ettrick and Blackbird fields in the UK central North Sea.

According to partner Atlantic Petroleum, this secures the use of the vessel beyond March 2016 and at a reduced day rate at that point.

The accord is expected to extend the economic life of the fields by helping to cut operating costs.

Atlantic CEO Ben Arabo said: “The reduction invessel rates and other cost saving initiatives are very welcome at a time when the profitability of North Sea production is challenged by the low oil price…”

Over the past few years, the company adds, theBluewater-operated FPSO has been one of the best in the North Sea in terms of production efficiency and health, safety, and environmental metrics.

03/13/2015

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