Addax Nigeria FPSO tender 'not viable' tactic - BW

摘要

Addax's tender for a leased FPSO for Nigeria is merely a negotiating tactic in the legal dispute over non-payment for the current vessel, according to its provider - BW Offshore. The subsidiary of China's Sinopec has had the 60,000 b/d Sendje Berge FPSO on the shallow water Okwori field in OML 126 since 2005. The contract expires in 2018. However, BW has initiated arbitration proceedings in London over US $52.6m it believes has been underpaid.