Floating production contractor BW Offshore has extended the lease of floating production, storage and offloading vessel Polvo.
The lease and operation of the facility for the Brazil’s independent was extended by a year to the third quarter of 2015, with options to extend to 2022.
FPSO Polvo can produce 90,000 barrels of oil per day (bod) and store 1,600,000 bod.
BW Offshore is hoping to acquire a 30% stake in the Polvo field from operator HRT, who currently holds a 60% interest, with Maersk owning the remaining 40%.
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