The new contract term will run until 31 December 2024; thereafter Repsol Sinopec may take out further 1 year extensions at their discretion.
The FPSO Bleo Holm is owned by Bluewater and operated by Repsol Sinopec.
The FPSO is located in UKCS Block 13/28a on the Blake and Ross Fields, 72 miles north east of Aberdeen, since 1999.
José Luis Muñoz, Repsol Sinopec CEO said: “I am very pleased that this lease has been extended. In alignment with the Oil & Gas Authority’s MER UK Strategy this is a clear demonstration of our commitment to the North Sea and is a timely development to encourage further investment, increase production and facilitate life extension for the area, all while remaining focussed on emissions reduction opportunities.”
Hugo Heerema, CEO of Bluewater said: “We are pleased to have been part of making serious additional life of field possible, in what we see as a win-win for ourselves and our client.”
Read the latest issue of Oilfield Technology in full for free: Issue 2 2021
Oilfield Technology’s second issue of 2021 starts with a report from KPMG that examines the outlook for the Scottish oil and gas sector. The rest of the issue is dedicated to articles covering the offshore supply chain industry, offshore asset integrity, expandable liner technology, advances in drilling, data security, flow control, EOR and methane emissions.
Exclusive contributions come from Tata Steel, EM&I Group, 3X Engineering, Enventure Global Technology, Varel Energy Solutions, Adrilltech, Tendeka and more.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/28062021/repsol-sinopec-extends-lease-on-fpso-belo-holm/
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