Aker Energy further extends option on bareboat charter of Ocean Yield FPSO

Aker Energy further extends option on bareboat charter of Ocean Yield FPSO

Aker Energy is shelling out more cash to extend an option it has for the long-term charter of Ocean Yield’s FPSO Dhirubhai-1.

Ocean Yield and Aker Energy signed an option agreement in February, which was due to expire at the beginning of May and was later extended until the end of May. The option has now been extended through to September 1 against additional compensation.

Ocean Yield granted Aker Energy the option, initially for $3m, to bareboat charter the 2008-built FPSO for a period of 15 years. If exercised, the FPSO will be modified and used for an early-production project offshore Ghana.

Aker Energy is still evaluation the use of the FPSO and Ocean Yield now says it looking for other employment opportunities for the FPSO and has entered into an agreement to perform an engineering study for the potential use of the unit on behalf of a non-related independent oil company.

Aker Energy is part of Kjell Inge Røkke’s Aker ASA, which owns 61.65% of Ocean Yield.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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