BW Offshore: Contract extension for BW Athena
(Thomson Reuters ONE) -
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.
For further information, please contact:
Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322
About BW Offshore:
BW Offshore is a leading global provider of floating production services to the
oil and gas industry. BW Offshore is the world's second largest contractor with
a fleet of 14 FPSOs and 1 FSO represented in all major oil regions world-wide.
The company also operates additional 2 FPSOs. BW Offshore has a long track
record on project execution and operations, as well as a robust balance sheet
and strong financial capabilities. In more than 30 years of production, BW
Offshore has executed 38 FPSO and FSO projects. The company is listed on the
Oslo Stock Exchange. Further information is also available on www.bwoffshore.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: BW Offshore via GlobeNewswire
[HUG#1907726]
Unternehmensinformation / Kurzprofil:
Datum: 31.03.2015 - 07:31 Uhr
Sprache: Deutsch
News-ID 382198
Anzahl Zeichen: 2074
contact information:
Town:
Oslo
Kategorie:
Business News
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