Teekay Offshore has received a contract extension for the Petrojarl Varg floating, production, storage and offloading (FPSO) vessel.

In June 2015, the charterer of the Petrojarl Varg FPSO, Talisman Energy Norge AS, exercised an option to extend the contract period of the vessel for an additional three years through June 30, 2019.

According to Teekay, the charterer has one remaining option to extend the contract period for a further three years.

The Varg field, located in the Norwegian sector of the North Sea, is developed with a wellhead platform (Varg A) and a production ship (Petrojarl Varg) with integrated oil storage.

Varg A is normally unmanned. The wellhead platform and the production ship are connected through flexible pipelines for oil production, water and gas injection and umbilicals for power supply and control. The oil is offloaded from the FPSO to shuttle tankers via a discharging system located on the FPSO.

Talisman Energy Norge is the operator of the field with 65% interest and partners in the field are are Petoro with 35% and Det norske with 5% interest.

Source: www.offshoreenergytoday.com

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