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Repsol Sinopec extends lease on FPSO Belo Holm

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Oilfield Technology,

Repsol Sinopec Resources UK Limited, its joint venture (JV) partner RockRose Energy and Bluewater (Floating Production) Limited have extended the bareboat charter for the FPSO Bleo Holm.

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.”

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