Ithaca Energy Inc. and BW Offshore Ltd. have agreed on a termination of the contract for the BW Athena floating production, storage, and offloading vessel, which will be demobilized in February.
Athena field is in the Moray Firth area of the UK Continental Shelf. With an oil processing capacity of 28,000 b/d, the BW Athena has had an uptime of 98% since production startup in May 2012.
The FPSO first operated under a 3-year contract, and the operation was extended with a contract with a mutual termination right. BW Offshore says it will market BW Athena for new opportunities.
Meanwhile, AWE Ltd. and BW Offshore have agreed on a 1-year contract extension to fourth-quarter 2017 for the lease and operation of the Umuroa FPSO, operating on Umuroa field offshore New Zealand (OGJ Online, Dec. 15, 2008; Apr. 7, 2015).
