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Prosafe, Fred Olsen Production JV wins 40 mln usd vessel deal extension


Published : Wed, 17 Oct 2007 07:52
By : Agencies
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OSLO (Thomson Financial) - Prosafe SE and Fred Olsen Production ASA said their jointly-owned unit, Tinworth Pte Ltd, has entered into an agreement with Vaalco for an extension to the contract for their FPSO vessel 'Petroleo Nautipa', worth 40 mln usd.

The vessel is currently operating at the Etame field offshore Gabon, and Prosafe said the current contract has been extended by another four years, from September 2011 until September 2015.

It also include two one-year options, the firm added.

alastair.reed@thomson.com

ar/tc

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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