Overseas Shipholding Group, a global energy transportation service provider, has confirmed that it has signed a new service agreement with Maersk Oil Qatar (MOQ) for the FSO Africa, a floating storage and offloading (FSO) service vessel. The duration of the contract is for three years beginning the end of August. The rate consists of a base rate which will increase if and when more capacity and features of the FSO are requested by MOQ.
The FSO Africa is jointly owned by OSG and Euronav N.V.
FSO Africa and its sister vessel, FSO Asia, are the two largest and most sophisticated double hull FSO vessels in the world. The FSO Africa will be stationed on the Al Shaheen oil field offshore Qatar, joining the FSO Asia, which began operations in January 2010.
Earlier this year a notice of cancellation was received from MOQ (on January 21) concerning the FSO Africa, which at the time was thought to be subject to a service contract with MOQ expiring in 2017. At the time Euronav and Overseas Shipholding Group contested MOQ’s right to terminate the contract.
The FSO Asia, a 432,023 dwt FSO service vessel was successfully hooked-up at the Al Shaheen oil field on January 4.
Previously the FSO duty for the Al Shaheen field was occupied by the giant Knock Nevis, the world’s largest floating storage and offloading vessel, and once the world’s largest ship.
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