New Zealand's Tui Project JV Extends Contract for FPSO Umuroa to 4Q 2017

BW Offshore disclosed Friday that the company has received a one year contract extension for the lease and operation of the FPSO Umuroa, currently operating on the Umuroa field in the Tui Area Oil Project offshore New Zealand for Australia's oil and gas firm AWE Limited.

The contract for the FPSO (floating production, storage and offloading) vessel, which is equipped to store up to 700,000 barrels of crude oil, has been "extended to 4Q 2017 (from 4Q 2016)", the company said in a press release.

Field operator AWE -- holder of a 57.5 percent stake in the Tui oil development -- revealed that the contract extension is the second of seven one-year options of the FPSO charter period, which, if exercised, would retain the FPSO until the end of 2022.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Lundin Norway Makes Oil, Gas Find in B... (Feb 24)
 -  PSA: Norway's Petroleum Industry Must ... (Feb 24)
 -  Sound Energy Progresses Tendrara Drill... (Feb 24)
 -  Lukoil Finds Oil at Iraq Well (Feb 22)
 -  Gazpromneft-Sakhalin: Ayashsky License... (Feb 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Rope Access Inspector Level 2/3
Expertise: Asset Integrity Engineer|NDT Technician|QA / QC / Inspection
Location: Magnolia, TX
 
Journeyman Electrician
Expertise: Electrician
Location: Kermit, TX
 
Process & Gas Compressor Millwright
Expertise: Mechanic
Location: Jersey Village, TX
 
search for more jobs

Brent Crude Oil : $56.58/BBL 1.32%
Light Crude Oil : $54.45/BBL 1.60%
Natural Gas : $2.62/MMBtu 1.15%
Updated in last 24 hours