BW Offshore signs LoI for BW Carmen
(Thomson Reuters ONE) -
(Bermuda, 15 March 2010): BW Offshore has signed a Letter of Intent (LoI) for
the use of the FPSO BW Carmen with Ithaca Energy and partners. The FPSO will be
employed on the Athena oil field on the UK sector and is expected to commence
production mid-2011. The agreement includes a fixed charter period of three year
with options to extend throughout the life of field. The Athena Joint Venture
Partners are Ithaca Energy (UK) Ltd (operator, 22.5%), Dyas UK Ltd (47.5%), EWE
AG (20.0%) and Zeus Petroleum (10.0%).
BW Offshore will perform a FEED study for the client and expects the study and
final contract negotiations to be concluded within Q2 2010. The FPSO will be
upgraded with field specific equipment, including a Submerged Turret Production
(STP) buoy that will be delivered from the APL division.
BW Carmen was built in 1994 and converted to an FPSO in 1999. The vessel has
recently completed short term contracts in the North Sea.
For further information, please contact:
Carl K. Arnet, CEO BW Offshore, +65 9630 3290
Knut R. Sæthre, CFO BW Offshore, +47 9111 7876
BW Offshore is one of the world`s leading FPSO contractors and a market leader
within advanced offshore loading and production systems to the oil and gas
industry. BW Offshore has more than 27 years' experience and has successfully
delivered 14 FPSO projects and 50 turrets and offshore terminals. BW Offshore's
technology division APL has delivered solutions for production vessels, storage
vessels and tankers in a wide range of field developments. Adapting through
competence, in-house technology, solid project execution and operational
excellence, BW Offshore ensures that customer needs are met through versatile
solutions for offshore oil and gas projects. BW Offshore has a global network
with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore
has 1,100 employees and is listed on the Oslo Stock Exchange. For more
information, please visit www.bwoffshore.com and www.apl.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1393887]
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Datum: 15.03.2010 - 07:50 Uhr
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