Prosafe Production and AWE have agreed on substantial changes to the terms of the FPSO Umuroa contract. The firm part of the contract has been extended by three years and 4 months to the end of 2015. Prosafe Production has in addition granted AWE further options of 2 x 1 year, bringing the total optional period to 7 x 1 years. The front loaded day rate profile has been maintained, but at a significantly higher level than in the original contract. The remaining seven years and seven months of the firm part of the contract represents a gross values of about USD 280 million.
Bjorn Henrikoon, President & CEO of Prosafe Production, commented; "The contract extension is a result of AWE's success in further development of the Tui field, and Prosafe Production is proud to be a substantial contributor to this success."
Umuroa is capable of producing 120,000 barrels of fluid per day, 50,000 barrels of oil per day and 118,000 barrels of water per day, with a storage capacity of 730,000 barrels. The vessel is moored in 120 meters of water and is Prosafe's first FPSO offshore New Zealand.
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