Ocean Yield has seen increasing interest from oil companies for its FPSO Dhirubhai-1 after the vessel completed a 10-year contract with Reliance Industries in India.
According to Ocean Yield, Reliance Industries has not exercised the option to purchase the FPSO and there are still certain outstanding contractual disagreements and outstanding payments between Reliance Industries and the company.
Ocean Yield says it has also been awarded a FEED study for the potential use of the FPSO, which is estimated to be completed during the fourth quarter of this year.
“The FPSO Dhirubhai-1 has during the 10-year contract with Reliance Industries had excellent operational utilization and has been maintained to a very high standard. Based on an improved outlook for the FPSO market, we are optimistic that we will be able to find a satisfactory solution for the unit,” said Lars Solbakken, CEO of Ocean Yield.