Petroleum Africa
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Wednesday, February 3, 2016
Oceaneering International reported that a unit of BP exercised its right, under the Field Support Vessel Services contract that was entered into with the company for work offshore Angola, to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May. Prior to this notice, the work was scheduled to extend through the end of January 2017.
Under the terms of the contract, the costs incurred by Oceaneering associated with the early release and demobilization of the vessel are expected to be reimbursed by BP. Following the release of the vessel, Oceaneering intends to redeliver it to the vessel owner.
Project management, engineering, and vessel services work associated with the provision for a second chartered vessel, Ocean Intervention III, is expected to continue as previously contracted with BP offshore Angola through January 2017.
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