While firming up a deal for a further extension, BW Offshore has secured a short-term contract extension with Eni for one of its floating, production, storage and offloading (FPSO) vessels, which will continue carrying out operations on a field located offshore Nigeria.
Nigerian Agip Exploration, a subsidiary of the Italian oil and gas giant Eni, has awarded a short-term extension for the Abo FPSO, according to BW Offshore’s statement from Monday. Thanks to this extension, the FPSO will work on the Abo field until 14 January 2023 to enable enough time to finalise terms for a further contract extension.
This FPSO has been working on the Abo field with Eni’s Agip since the beginning of production in 2003, while the previous extension, which was secured in January 2022, expired at the end of the fourth quarter of 2022.
Located in the OML 125 license some 40 kilometres off the Nigerian coast on the western edge of the Niger Delta, at a water depth of 550 to 1,100 metres, the Abo field covers an area of 1,983 km² (490,010 acres). It contains light sweet crude oil – typically 39° to 41° API – and natural gas.
The licence includes three fields – Abo, Abo North and Okodo – and has eight producing wells, two water injectors and two gas injectors. These wells are tied back to the Abo FPSO. Agip is the operator with 85 per cent working interest, while Oando Energy Resources holds the remaining 15 per cent.
Previously owned by Prosafe, the Abo FPSO was converted in 2002 from a 1976-built single-hull Suezmax tanker Grey Warrior into an FPSO by Singapore’s Keppel Shipyard.
With a storage capacity of 930,000 barrels of oil, the Abo FPSO has an oil treatment capacity of up to 45,000 bopd, a water injection capacity of 30,000 bopd and a gas compression capacity of 48,4 mmscfd.