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Thursday, January 29, 2015
ENI and its partners on Ghana’s Offshore Cape Three Points Block (OCTP), Vitol and GNPC, have awarded Malaysia’s Yinson Holdings the contract for the chartering, operation, and maintenance of a FPSO vessel for the OCTP development. The FPSO is expected to commence operations in the OCTP block in 2017.
The contract is for a firm charter period of 15 years with five yearly extension options exercisable by the client. The estimated aggregate value of the contract (excluding reimbursable and cost escalation) during the firm charter period is up to $2.539 billion and an estimated total aggregate value of up to $3.256 billion if all of the yearly extensions are exercised.
The OCTP development received the green light from the Ghanaian government recently.
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