BW Offshore will keep the BW Pioneer vessel in the Gulf of Mexico, with a new contract. Credit: BW Offshore.

BW Offshore has secured a contract for the lease and operation of the BW Pioneer, a floating production, storage and offloading (FPSO) vessel. It will operate on the Cascade and Chinook fields in the US Gulf of Mexico for the next five years.

The latest contract comes with an additional five-year extension option. The company has not stated the value of the contract.

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This contract is a direct continuation of the current contract with MP Gulf of Mexico. The company is a joint venture between Brazilian firm Petrobras and US independent energy company Murphy Oil.

The firm period of the contract, beginning this month, will keep the vessel working on the field until March 2025.

The Cascade and Chinook fields are located in the Walker Ridge block, about 300km south of the Louisiana coast.

BW Offshore operates 15 vessels including the BW Pioneer, the first FPSO facility in the US Gulf of Mexico. The Pioneer works at a depth of approximately 2,500m.

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The FPSO is specified to have 500,000 barrels of oil storage capacity. It has processing capacity of 80,000 barrels per day, and 16m cubic feet per day of natural gas export capacity.

BW Offshore CEO Marco Beenen said: “We are very pleased to have reached a long-term agreement with MP GOM for the BW Pioneer, confirming our strong relationship with MP GOM on the Cascade and Chinook fields.”

In October last year, BW Offshore revised development plan for Ruche project, including the Hibiscus discovery, located in the Dussafu Marine licence offshore Gabon.