Bergesen Worldwide Offshore News

Bergesen Worldwide Offshore Ltd (BWO) has signed a contract with Peak Petroleum Industries Nigeria Ltd and Equator Exploration Ltd for the use of an FPSO at the Bilabri Field, located in Block OML 122, offshore Nigeria. BWO will use the FPSO BW Endeavor, to be renamed BW Peace, for the services and operations. The terms and provisions of the contract are the lease and operation of a FPSO for a fixed period of 3 years with the Companies option to extend the contract for up to a total of 10 years. The operation on the Bilabri field is planned to commence during second half of 2007. The hire rate will consist of a fixed day rate plus a production incentive rate.

Sembawang Shipyard won $53.5 million contract from Bergesen Worldwide Offshore to convert the Ultra Large Crude Carrier, BW Enterprise to an FPSO (Floating, Production, Storage & Offloading). Bergesen Worldwide Offshore will own and operate the FPSO in the Gulf of Mexico under a 15-year term agreement with Pemex. This is the first FPSO to be deployed in the Gulf of Mexico and will serve as a hub in the area and act as an export terminal. The contract calls for the 360,000 dwt tanker to be converted into an FPSO with 600,000 bpd handling inclusive of 200,000 bpd processing capacity with gas export capability. The shipyard will carry out detailed engineering…