Chevron hires Olympic vessel for work on Nigerian deepwater
Chevron Engages Olympic Zeus for Nigerian FPSO Operations
Norwegian offshore vessel operator Olympic has secured a significant contract with Chevron, one of the largest oil companies in the world. The agreement involves the use of the Olympic Zeus, an anchor handling and offshore construction vessel, for operations related to the Agbami Floating Production Storage and Offloading (FPSO) unit off the coast of Nigeria. This contract is set for a duration of two months, with options for extension, marking a notable development in the ongoing collaboration between the two companies.
Details of the Contract and FPSO Operations
The Olympic Zeus will support Chevron’s operations at the Agbami FPSO, a key asset in Nigeria’s oil production landscape. Chevron holds a 67.3% stake in the $3.5 billion project, with Equinor and Petrobras owning the remaining interests. The FPSO, constructed by Daewoo Shipbuilding & Marine Engineering in South Korea, boasts a substantial storage capacity of 2.2 million barrels of crude oil and has been operational since its arrival at the field in late 2007.
This FPSO is designed to handle impressive production levels, including 250,000 barrels of oil per day, 450 million cubic feet of gas, and 450,000 barrels of injected water daily. With a construction cost of $1.2 billion, the Agbami FPSO is expected to remain in operation for over 20 years, underscoring its importance to Chevron’s long-term strategy in the region.
Prior to this contract, the Olympic Zeus was engaged in the spot market with Aker BP, demonstrating its versatility and capability in various offshore operations. The new partnership with Chevron not only highlights the vessel’s operational readiness but also reinforces Olympic’s position in the competitive offshore vessel market.
