The firm charter period is for seven years with extension options of up to 18 years.

BW Offshore said that based on a field life of ten years, the contract was worth $2.3 billion including the FPSO charter rate and operational expenditure.

The Oslo-listed contractor revealed in April it had signed a letter of award for the project.

Upstream first reported in February that BW Offshore was the only player left in the race for the work.

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