Mercator sells Virini Prem FSO

Mercator sells Virini Prem FSOMercator Offshore has completed the previously announced sale of its Virini Prem floating production unit.

The company in December 2016 said it would sell the unit for no less than $76 million to Oriental Resources.

Oriental is a co-venturer and a production sharing partner of Ebok field offshore Nigeria where the FPU is currently deployed.

In a statement on Thursday, Mercator confirmed the sale has been completed, adding that it would use the cash for repayment of high cost debt and for other operational purposes.

The Virini Prem FPU, a combination of an MOPU and an FSO, was contracted for the Ebok field in 2010. Mercator provided engineering, procurement, construction, installation, and commissioning services for the unit.

The Ebok field was awarded to Oriental Resources in May 2007 by the ExxonMobil / Nigerian National Petroleum Corporation (NNPC) Joint Venture. It is located in OML 67, 50 kilometers offshore in 135 feet of water in Nigeria’s southeastern producing area. The field was discovered by the ExxonMobil/NNPC JV in 1968.

First oil from the field was achieved in 2011 with production around 35,000 boepd and with 508 mmbbls gross unrisked resource potential. Oriental has a 60 percent working interest in the field and its partner in the field is Afren Resources with the remaining 40 percent.


Related: Mercator suffers setback in floating production unit sale


Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply