BW Offshore wins 4-year contract extension offshore Nigeria

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Bw Offshore Ltd

* Sendje Berge contract extension

* Sendje Berge Limited, a subsidiary of BW Offshore Limited, has now agreed terms of a contract extension for the FPSO Sendje Berge with Addax Petroleum Exploration (Nigeria) Ltd on the Okwori field offshore Nigeria which have been duly submitted to relevant Nigerian Authorities for their review and approval

* ‍contract extension will be for a four-year fixed term with two additional one-year extension options, commencing 6 november 2017​

* ‍revised and agreed commercial terms include a new day rate partially linked to oil production volumes and oil price​

* ‍termination notice announced on 5 may 2017 has been withdrawn and arbitration has been settled as part of agreed terms​

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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