Repsol Sinopec extends FPSO Bleo Holm stay off UK

FPSO operator Bluewater, owned by Aurelia Energy, has been awarded a one-year contract extension for its unit operating off the UK.

According to Bluewater’s financial report for the first three quarters of 2017 issued on Monday, the vessel operator was given a bareboat charter extension for the FPSO Bleo Holm by Repsol Sinopec Resources UK Limited at the end of June.

The FPSO Bleo Holm is producing at the Ross and Blake Fields in the UK sector of the North Sea. It is located in a water depth of 110m in block 13/28a on the UKCS, 72 miles North East of Aberdeen.

Bluewater said that the extension was at unchanged charter terms and the firm contract period now runs up until June 30, 2019.

The FPSO has been working for Repsol Sinopec Resources UK, previously Talisman Energy, in the UK sector of the North Sea since 1999.

This extension ties to the previous one which was awarded in October 2016 and lasts until June 30, 2018.

The vessel was based on a new dedicated FPSO hull constructed in 1997 at the Hitachi shipyard in Japan.

In the report on Monday, Bluewater posted a net loss of $15.7 million for the nine-month period ended September 30, 2017, compared to a profit of $37.6 million in the same period last year.

During the first three quarters of this year, the company’s revenues dropped to $222.9 million from $369.3 million in the prior-year period.

Offshore Energy Today Staff