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Espoir Ivoirien FPSO Extends Stay on Espoir Field
Date: Friday, September 28, 2012
BW Offshore signed a four-year extension contract with CNR International (Côte d’Ivoire) SARL for the lease and operation of the Espoir Ivoirien FPSO. The firm period for the FPSO has been extended from Q1 2013 to Q2 2017.
The option period on the lease and operation of the Espoir Ivoirien FPSO has also been extended taking it into Q2 2036.
The contract has a total revenue of $925 million including options, up $250 million from the previous contract.
CNR is redeveloping the offshore Espoir field on Cote d’Ivoire’s block CI-26. The redevelopment of the field is being done through the use of highly deviated wells. CNR sanctioned an eight-well drilling program on the field near the end of 2011 and plans to start drilling in Q4.
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