BW Offshore: Contract extension for BW Athena

abarrelfullabarrelfull wrote on 01 Apr 2015 12:46
Tags: bw-offshore europe fpso ithaca services uk


BW Offshore has received a notice of termination for the FPSO BW Athena contract from Ithaca Energy. BW Offshore and Ithaca Energy (on behalf of the Athena field co-venturers) have agreed a revised contract structure to continue production on the Athena field beyond expiry of the firm period on a revised compensation scheme, involving advanced payment of an FPSO demobilisation fee and sharing of positive cashflow from the field. Both parties have the right to terminate on a 60-day notice period.

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