Offshore staff
GODALMING, UK – Hurricane Energy has decided not to exercise an option to extend the bareboat charter of the FPSO Aoka Mizu by three years to June 2025.
The vessel, which has served as the early production system on the basement Lancaster oilfield west of Shetland, is currently chartered until June 2022.
However, based on current Lancaster production forecasts, Hurricane is wary of extending the lease in its present form, with the attendant financial obligations this could entail.
The company is in talks with the vessel’s owner/operator Bluewater Energy Services on an alternative, shorter-term charter extension.
If new terms cannot be agreed, Hurricane may pursue a controlled wind-down of its business and cease operations at Lancaster field following expiry of the bareboat charter in 2022, at which point the field would be decommissioned.
06/07/2021
