BW Offshore Gets One, Loses One

BW Offshore FPSO contractor BW Offshore said that Ithaca Energy has decided to terminate the charter contract of the FPSO BW Athena, and the unit will be demobilised in February 2016. BW Athena first operated under a three year contract at the Athena field, located in the Moray Firth area of the UK Continental Shelf, and the operation was extended with a contract with mutual termination right. BW Athena, with an oil processing capacity of 28,000 barrels per day, has had an uptime of 98% since first oil in May 2012, and BW Offshore stood as duty holder for the unit. The FPSO is now marketed for new opportunities, BW Offshore said. Separately, the company said that it has received a one year contract extension for the lease and operation of the FPSO Umuroa. The FPSO is operating on the Umuroa field offshore New Zealand for AWE. The firm period has been extended to Q4 2017 (from Q4 2016). BW Offshore is the worlds second largest contractor with a fleet of 14 FPSOs.