CNR Extends Espoir Ship Lease
Canadian Natural Resources (CNR) has exercised the option to extend the fixed-term of the lease contract for FPSO Espoir Ivoirien from 2017 to 2022, said the ship’s owner BW Offshore on July 8. Terms are based on existing extension options, with some adjustments for life extension investment scope, delivering cost savings for both parties, Oslo-listed BW Offshore said.
FPSO Espoir Ivoirien produces oil and associated gas from the Espoir field, offshore Cote d’Ivoire in West Africa. The vessel has capacity to produce 45,000 b/d oil and has gas compression capacity of 80mn ft3/d. Oil is exported by shuttle tankers and gas is piped to shore via a 19km pipeline and used for power generation in the capital Abijdan. The original lease on the FPSO ran from 2002 to 2017.
Associated gas from CNR’s Baobab oil field is also piped via the FPSO Espoir Ivoirien to shore.
FPSO Espoir Ivoirien (Photo credit: BW Offshore)
CNR’s net 2015 Cote d’Ivoire production was 19,079 b/d, up 54%, plus 27mn ft3/d gas, up 29%.
Most CNR production is in North America. In Africa, aside from its two Cote d’Ivoire fields, it is developing Gabon’s offshore Olowi field, and with Total is exploring block 11B/12B off South Africa.
Cote d’Ivoire itself is considering plans for an LNG import terminal to supply a new power plant but the project is at an early stage. Also the Nigeria-to-Ghana WAGP gas pipe is studying a westward extension to Cote d’Ivoire, although flows through WAGP have been erratic and lately got worse.
Mark Smedley | naturalgasafrica.com | naturalgaseurope.com