ANTWERP, Belgium -- TI Africa has signed a new agreement with Maersk Oil for continued use of the FSO Africa on the Al Shaheen field offshore Qatar.
The contract is fixed for five years from Oct. 1, with an optional extension of one or two years.
According to the FSO’s co-owner Euronav, the new agreement allows Maersk Oil to use the vessel’s full capacity and functionality.
This will be offset against an increase of the day rate in each contract year equal to the day rate of sister vessel for FSO Asia, which has been operating on Al Shaheen field for two and a half years, six months longer than FSO Africa.
Both vessels, Euronav says, continue to operate at a high level of performance in terms of quality of oil produced, and without needing to go off-hire.