BW Offshore wins contract extension for FPSO Polvo in Brazil

FPSO operator BW Offshore has been awarded a contract extension for its floating production storage and offloading (FPSO) unit operating offshore Brazil.

BW Offshore said on Sunday it has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo.

The vessel’s previous two-year firm contract, awarded in December 2015, expires in the third quarter 2018.

According to the FPSO owner, the firm period has now been extended from the third quarter of 2018 to third quarter of 2019, with options until 3Q 2022.

BW Offshore is operating the FPSO Polvo on the Petrorio-operated Polvo field located in the Campos basin offshore Brazil, approximately 100 kilometers off the coast of Rio de Janeiro, in water depths of around 100 meters.

The field, has been developed with a fixed platform, known as Polvo A, and the FPSO Polvo which has the capacity to process an average of 100 thousand barrels of fluid per day and the ability to store up to 1 million barrels.

Offshore Energy Today Staff