BW Offshore has signed the contract for the FPSO BW Carmen with Ithaca Energy (UK) Ltd and partners.
The FPSO will be employed on the Athena oil field in the UK sector and is expected to commence production during 2H 2011. The contract includes a fixed charter period of three years, plus options for additional five years.
The Athena Joint Venture Partners are Ithaca Energy (UK) Ltd (operator, 22.5%), Dyas UK Ltd (47.5%), EWE AG (20.0%) and Zeus Petroleum Limited (10.0%).
BW Carmen (to be renamed “BW Athena”) will be upgraded with field specific equipment, including a Submerged Turret Production (STP) buoy from BW Offshore’s APL division.
The total value of the contract is USD 450-500 million.
About BW Offshore
BW Offshore is one of the world’s leading FPSO contractors and a market leader within advanced offshore loading and production systems to the oil and gas industry. BW Offshore has more than 25 years’ experience and has successfully delivered 14 FPSO projects and 50 turrets and offshore terminals. BW Offshore’s technology division APL has delivered solutions for production vessels, storage vessels and tankers in a wide range of field developments. Adapting through competence, in-house technology, solid project execution and operational excellence, BW Offshore ensures that customer needs are met through versatile solutions for offshore oil and gas projects. BW Offshore has a global network with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore has 1,100 employees and is listed on the Oslo Stock Exchange.
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Source: BWoffshore, September 9, 2010: