Petroleum Africa
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Friday, February 21, 2014
CAMAC energy reported that it has signed the long-term contract for the FPSO Armada Perdana. The contract provides for an initial term of five years which began January 1, 2014 with an automatic extension for an additional two years unless terminated by CAMAC with prior notice.
The company plans to utilize the FPSO for its multi-year, high-impact development and production operations in Nigeria.
FPSO Armada Perdana has a production capacity of 40,000 bpd of oil, and a storage capacity of 1.1 million barrels. It currently supports production of approximately 2,000 bpd of oil and 40 Mmcf /d of natural gas from the Oyo field on OML 120 offshore Nigeria.
“Securing this infrastructure for up to seven years is another milestone towards the growth of CAMAC,”’ said Segun Omidele, senior VP of Exploration and Production.
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