Agip Renews FPSO Contract For Devt Of Abo Field

A subsidiary of Italy’s oil and gas giant, Eni, Nigerian Agip Exploration, has executed another short-term contract extension to BW Offshore for one of its floating, production, storage and offloading (FPSO) vessels, which is working on an offshore field in Nigeria.

BW Offshore revealed that it had signed a new short-term extension for the Abo FPSO, allowing the vessel to work on the Abo field until 31 May 2023.

The FPSO has been carrying out operations on the Abo field with Eni’s Agip since the start of production in 2003.

The previous contract extension expired on 30 April 2023.

Located in the OML 125 license some 40 kilometres off the Nigerian coast on the western edge of the Niger Delta, the Abo field covers an area of 1,983 km² (490,010 acres) in a water depth of 550 to 1,100 metres. The field contains light sweet crude oil, typically 39° to 41° API, and natural gas.

With three fields – Abo, Abo North and Okodo – the license encompasses eight producing wells, two water injectors and two gas injectors. These wells are tied back to the Abo FPSO.

Agip is the operator with 85 per cent working interest, while Oando Energy Resources holds the remaining 15 per cent.

The Abo FPSO comes with a storage capacity of 930,000 barrels of oil, an oil treatment capacity of up to 45,000 bopd, a water injection capacity of 30,000 bopd, and a gas compression capacity of 48,4 mmscfd.

This extension comes only days after BW Offshore got a short-term contract extension for another FPSO, which is working at a field located offshore the Ivory Coast.