BW Offshore has signed an agreement with Petrorio for a one year extension for the lease and operation of the FPSO Polvo.
According to the company, the firm period has been extended to Q3 2016 (from Q3 2015), with options until Q3 2022.
BW Offshore is operating the FPSO Polvo on the Polvo field located in the Campos basin offshore Brazil, approximately 100 kilometres off the coast of Rio de Janeiro, in water depths of around 100 metres.
The field was brought on stream in 2007, with a 2013 year to date production of approximately 12,000 bopd. The field installations include the FPSO Polvo, the Polvo A wellhead platform with a drilling rig and an infield pipeline.
The field is operated by HRT O&G Exploração e Produção de Petróleo Ltda. (HRT) with 60% interest and Maersk with 40% interest. The previous operator BP, sold its stake to HRT in 2013 for $135 million in cash.
Offshore Energy Today Staff