CAMAC Contracts FPSO for Offshore Nigeria
CAMAC Energy Inc. announced that a long-term contract has been signed for the floating production storage and offloading vessel (FPSO) Armada Perdana. The contract provides for an initial term of five years beginning 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 multiyear, high-impact development and production operations in Nigeria. FPSO Armada Perdana has a production capacity of 40,000 barrels of oil per day, and storage capacity of 1.1 million barrels.
Energy Searcher Gets Offshore Nigeria Contract
Northern Offshore subsidiary, Northern Offshore International Drilling Company says it has executed a long-term drilling contract with an affiliate of CAMAC Energy Inc. for its drillship 'Energy Searcher'. The contract commits to an initial period of one year, with an option to extend the contact for an additional one-year term. Commencement of drilling activities on the Oyo Field offshore Nigeria is expected during the first half of 2014. The contract value for the first one-year term is just under US$100 million, plus mobilization fees.
