BW Offshore Gets FPSO Contract Extension
BW Offshore received a notice from Petrobras that it will exercise its right to extend the lease and operation agreement of BW Cidade de São Vicente by 48 days. With this update the contract will expire on June 11, 2020.
BW Offshore has started plans to demobilize the unit from the field and is considering a temporary lay up in Brazil.
BW Cidade de São Vicente started operating for Petrobras in 2009 and has been utilized as a well test facility for the company on multiple locations offshore Brazil.
BW Offshore provides floating production services to the oil and gas industry. It also participates in developing offshore hydrocarbon reservoirs. As of March 2020, the company had a presence in all major oil and gas regions worldwide with a fleet of 15 FPSOs. BW Offshore has been in business for more than 30 years, having executed 40 FPSO and FSO projects.
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