BW Offshore reported Friday that North Sea-focused Ithaca Energy has agreed an extension to a contract for its FPSO (floating production, storage and offloading) vessel currently serving the Athena field.
Originally, the FPSO BW Athena was contracted to run between 2012 and 2015. The new deal sees Ithaca exercise its option to use the vessel for an additional five years, although the company retains the right to terminate the contract with 12 months' notice.
The BW Athena (formerly BW Carmen) was built in 1994 and converted to an FPSO vessel in 1999. It has oil production capacity of 28,000 barrels per day and can store up to 50,000 barrels.
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