Brazil’s oil giant Petrobras has exercised the option to extend the fixed term of the lease contract for BW Offshore’s FPSO BW Pioneer for three years.
The contract was extended from the first quarter of 2017 to the first quarter of 2020.
In the second quarter of 2016, BW Offshore will replace the parts of the subsea mooring system for the FPSO BW Pioneer, and the cost for the replacement will be partly covered by insurance, the FPSO owner said.
The company also said that, during the replacement, the FPSO BW Pioneer would be disconnected and the replacement campaign was expected to result in approximately two months of downtime.
The FPSO BW Pioneer has an oil production capacity of 80,000 bbl/d and a storage capacity of 600,000 bbl. The vessel is operating on the Cascade & Chinook fields in the U.S. Gulf of Mexico.