Premier Oil, BW Offshore to charter FPSO Nexus 1

Premier Oil and BW Offshore have signed a Letter of Understanding (LoU) for the charter of the FPSO Nexus 1.

Offshore staff

HAMILTON, Bermuda -- Premier Oil and BW Offshore have signed a Letter of Understanding (LoU) for the charter of the FPSO Nexus 1. The LoU has been signed based on the marketing agreement between Nexus Floating Production and APL (Advanced Production & Loading).

Nexus Floating Production is reporting that the LoU is conditional upon a substantial financial restructuring of the company.

04/07/2009

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