BW Offshore FPSO Contract Extends By Vaalco off Gabon

BW Offshore a Norwegian global leading provider of floating production services to the oil and gas industry has received a one-year contract extension for the lease and operation of the FPSO Petróleo Nautipa. Operating on the Etame field offshore Gabon for VAALCO Energy.

The firm period has been extended the operations of FPO Petroleo Nautipa for another one year starting from third quarter of 2021 to third quarter of 2022. . The Etame field lies within the Etame block, which occupies 3,074km2 in the northern section of the Congo Basin offshore southern Gabon. The Etame offshore field was discovered in 1998 by Vaalco Energy. It began commercial production in 2001 after three delineation wells were drilled. The field consists of four subsea wells operating from the Gamba reservoir. As of 2008, the field consists of approximately 23 million barrels of proven and probable oil reserves. The reserves increased by 23% in comparison with those in 2007.

BW Offshore participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 35 years of production track record, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange.

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