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Contract extension for BW Athena
BW Offshore has received a contract extension for the FPSO BW Athena with Ithaca Energy. The primary term of the contract expires in Q2 2015, and Itacha Energy has exercised the option for a secondary term of up to five years. Ithaca Energy has the right to terminate the contract on a rolling 12-month notice. Source: BW Offshore via Globenewswire
BW ATHENA 9116760
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. Source: BW Offshore
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