BW expects to renew agreements with Petrobras


Charter of the FPSOs City of São Vicente and City of São Mateus ends in 2019

BW Offshore wants to renew this year with Petrobras the agreement to charter the FPSOs Cidade de São Vicente and Cidade de São Mateus. The contractual period of the two vessels ends in 2019, with an extension option to 2024.

The FPSO City of São Mateus contract would originally end later this year, but Petrobras renewed in March for another year. The platform exploded in February 2015 while producing in the Camarupim and Camarupim Norte fields, in the Espírito Santo Basin. The accident killed nine people and injured 26 others. Since then, the fields have not been producing.

Also part of the BW fleet in Brazil include the FPSO Polvo, under contract with PetroRio (which ends in 2019 but has an extension option for 2022) and the FPSO Pioneer, in contract with Petrobras until 2020.

Offshore competitive advantage

The company has optimistic short-term vision for oil and gas amid falling costs of drilling, infrastructure and development services.

Source: Brazil Energy

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