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* ‍termination notice announced on 5 may 2017 has been withdrawn and arbitration has been settled as part of agreed terms​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 the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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