Contract extension for Sendje Berge
11 October 2010 - Addax Petroleum Exploration, part of the Sinopec group, has exercised the remaining two years of options for the FPSO Sendje Berge. The firm period has by this been extended until March 2013. The FPSO is operating on the Okwori field offshore Nigeria.
PROD - Extension of Abo FPSO contract
Nigerian Agip Exploration Limited has exercised the first of two 12-months extension options for Abo FPSO.
The extension will be effective from early April 2011. The gross value is approximately USD 30 million.
Update on Huntington contract negotiations
Sevan Marine ASA and E.ON Ruhrgas UK E&P have finalized the commercial negotiations on the Charter Party Agreement for the lease of the FPSO Sevan Voyageur for operation on the Huntington field.
The parties are aligned on the schedule to move the project forward under the current LOI towards contract execution.
The charter party has a fixed term of five years with extension options and an estimated contract value of USD 535 million for the fixed term.>
Extension of FPSO Sevan Hummingbird charter contract
Under the charter contract with Centrica Energy Upstream, the charter is automatically extended by six months unless notice is given six months prior to the expiration of the contracted period. The expiration of the initial contracted period is March 28, 2011, and the charter for FPSO Sevan Hummingbird has been extended until September 28, 2011. Day rates remain unchanged in the extension period.
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