Oil industry company BW Offshore has announced the renewal of a significant contract for one of its floating, production, storage, and offloading (FPSO) vessels operating off the coast of Ivory Coast.
The company has signed an extension agreement with Canadian Natural Resources International (CNR), paving the way for a potential acquisition of the FPSO Espoir Ivoirien. This development has led to the extension of the lease until June 9, 2023, ensuring continued operations and stability in the region.
The Espoir Ivoirien FPSO, a former Suezmax tanker converted in 2001, has a production capacity of 45,000 barrels of crude oil per day and a storage capacity of one million barrels and it stands anchored in waters 120 meters deep.
The FPSO has ten risers and is equipped with topside facilities for water injection and gas compression, making it a versatile and essential component of the oil industry infrastructure in the region.
The Espoir field is located in Ivory Coast block CI-26, offshore, south of Jacqueville and southwest of Abidjan. It has estimated recoverable reserves of 93 million barrels of oil and 180 billion cubic feet of natural gas, with a life expectancy of 20 years.
The field is operated by CNR, which acquired 36.33% equity in 2000 and currently holds 58.67% equity, along with Petroci Holding (20%) and Tullow Côte d’Ivoire (21.33%). CNR also operates the Baobab prospect in block CI-40, located south of Espoir, with 61% equity.
