BW Offshore subsidiary Sendje Berge has agreed terms of a contract extension for FPSO Sendje Berge with Nigeria’s Addax Petroleum Exploration.
The FPSO is operating at the Okwori field offshore Nigeria, and the four-year fixed term extension, which includes two additional one-year options, commences November 6. The new day rate will be partially linked to oil production volumes and oil price.
Addax has withdrawn the termination and the arbitration has been settled as part of the agreed extension terms.
Sendje Berge has been operating offshore Nigeria since March 2005.