BW Offshore has signed the contract for the FPSO BW Carmen with Ithaca Energy and partners. The FPSO will be employed on the Athena oil field in the UK sector and is expected to commence production during 2H 2011. The contract includes a fixed charter period of three years, plus options for additional five years.
The Athena Joint Venture Partners are Ithaca Energy (UK) Ltd (operator, 22.5%), Dyas UK Ltd (47.5%), EWE AG (20.0%) and Zeus Petroleum Limited (10.0%).
BW Carmen (to be renamed "BW Athena") will be upgraded with field specific equipment, including a Submerged Turret Production (STP) buoy from BW Offshore's APL division.
The total value of the contract is USD 450-500 million.
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BW Offshore
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