Denmark's Maersk signs contract for offshore vessels

04 October 2012

Danish oil and gas company pens five-year deal with Euronav for Al-Shaheen oilfield in Qatar

Denmark’s Maersk Oil Qatar has signed a five-year deal with Belgium’s Euronav for the provision of floating storage and offloading (FSO) facilities at the Al-Shaheen oilfield it operates off the coast of Qatar.

Euronav will provide two vessels, FSO Africa and FSO Asia, to Maersk for use at Al-Shaheen. The contract will start in October 2012 and has the option of a one- or two-year extension.

The deal will run until Maersk’s contract as operator of the field runs out in 2017. The Danish company has been in talks with Qatar Petroleum to extend its tenure to 2030, but no announcement confirming an agreement has been made. Al-Shaheen produces 300,000 barrels a day of oil.

FSO Africa and FSO Asia are owned in a 50:50 joint venture by Euronav and the US’ Overseas Shipholding Group.

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