Offshore UK Operator Extends FPSO Contract

Offshore UK Operator Extends FPSO Contract
Bluewater has won a bareboat charter contract extension for the Bleo Holm FPSO. PHOTO SOURCE: Bluewater.

Repsol Sinopec Resources UK Limited has extended its bareboat charter contract with Bluewater (Floating Production) Limited for the Bleo Holm floating production, storage, and offloading (FPSO) vessel, Bluewater reported last week.

The Bleo Holm FPSO has operated in U.K. Continental Shelf Block 13/28a on the Blake and Ross fields since 1999, Bluewater noted in a written statement. The owner pointed out the vessel – located in the North Sea 72 miles (116 kilometers) northeast of Aberdeen – is now under contract until Dec. 31, 2024.

“I am very pleased that this contract has been extended,” remarked Repsol Sinopec CEO José Luis Muñoz. “In alignment with the Oil & Gas Authority’s MER UK Strategy this is a clear demonstration of our commitment to the North Sea and is a timely development to encourage further investment, increase production, and facilitate life extension for the area, all while remaining focused on emissions reduction opportunities.”

Bluewater noted that operator Repsol Sinopec, whose joint venture partner is Rock Rose Energy, can take out further one-year contract extensions at its discretion.

“We are pleased to have secured this contract extension, which facilitates field life extension,” concluded Bluewater CEO Hugo Heerema. “This contract extension is a win-win for ourselves and our client.”

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