Offshore staff
LARNACA, Cyprus -- Prosafe Production and AWE have agreed to extend the contract of the FPSO Umuroa by three years and four months to the end of 2015.
Prosafe has also granted AWE further options of two one-year extensions, bringing the total optional period to seven one-year extensions.
The front loaded dayrate profile has been maintained, but at a significantly higher level than in the original contract. The remaining seven years and seven months of the firm part of the contract represents a gross value of about $280 million.
"The contract extension is a result of AWE's success in further development of the Tui field, and Prosafe Production is proud to be a substantial contributor to this success," says Bjørn Henriksen, president and CEO of Prosafe Production.
Tui field is offshore Taranaki basin in New Zealand.
05/21/2008
