Rubicon Offshore has sold the Front Puffin FPSO to Century Engineering Services for USD15 million. The entire proceeds will be distributed to bondholders.
Front Puffin FPSO is leased on a bareboat charter to Folawiyo Aje Services and is deployed at the Aje field in offshore Nigeria.
The Aje field started oil production on 3 May 2016, via the Aje-4 and Aje-5 wells tied back to the FPSO Front Puffin. The field lies in water depths of 90 m in OML 118, offshore Nigeria. Yinka Folawiyo Petroleum operates Aje with partners New Age, FHN, Energy Equity Resources, Panoro Energy and MX Oil.
[Nigeria] FPSO Tamara Nanaye - Ex. Front Puffin FPSO
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Re: [Nigeria] FPSO Tamara Nanaye - Ex. Front Puffin FPSO
3 April 2023
The Century Group, the only Nigeria-owned company to own and operate floating, production, storage and offloading (FPSO) vessels in Africa, is consolidating its market presence on the country’s offshore oil & gas market.
On March 24th, it signed an agreement with Samsung Heavy Industries Nigeria (SHIN) for the renovation of its FPSO Tamara Nanaye. The vessel, previously known as FPSO Front Puffin, previously served as the production hub for the Aje Field on OML 113. As technical partner to the OML 113 operator, Century successfully kept the Aje field operational, productive and profitable from 2014 to 2021.
Century Group has now selected SHIN to carry out a de-bottlenecking upgrade to maintain and upgrade the FPSO ahead of its redeployment offshore Nigeria later this year. Hawilti previously reported that the FPSO Tamara Nanaye had been selected to support the redevelopment of the Kalaekule Field on OML 72, operated by West Africa E&P, a joint-venture of Dangote Exploration Assets Ltd and First E&P.
“The FPSO Tamara Nanaye is undergoing renovations such as adding topside production facilities, altering flaring capacity, change mooring system to spread mooring and adding a riser porch structure to increase the production capacity of the FPSO,” Century Group said in a post last week.
The upgrade of the FPSO locally in Nigeria will allow a shorter renovation timeline than sending the vessel for maintenance overseas, and will reduce the input cost.
The Century Group, the only Nigeria-owned company to own and operate floating, production, storage and offloading (FPSO) vessels in Africa, is consolidating its market presence on the country’s offshore oil & gas market.
On March 24th, it signed an agreement with Samsung Heavy Industries Nigeria (SHIN) for the renovation of its FPSO Tamara Nanaye. The vessel, previously known as FPSO Front Puffin, previously served as the production hub for the Aje Field on OML 113. As technical partner to the OML 113 operator, Century successfully kept the Aje field operational, productive and profitable from 2014 to 2021.
Century Group has now selected SHIN to carry out a de-bottlenecking upgrade to maintain and upgrade the FPSO ahead of its redeployment offshore Nigeria later this year. Hawilti previously reported that the FPSO Tamara Nanaye had been selected to support the redevelopment of the Kalaekule Field on OML 72, operated by West Africa E&P, a joint-venture of Dangote Exploration Assets Ltd and First E&P.
“The FPSO Tamara Nanaye is undergoing renovations such as adding topside production facilities, altering flaring capacity, change mooring system to spread mooring and adding a riser porch structure to increase the production capacity of the FPSO,” Century Group said in a post last week.
The upgrade of the FPSO locally in Nigeria will allow a shorter renovation timeline than sending the vessel for maintenance overseas, and will reduce the input cost.
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