- Gimboa FPSO Receives 2-Year Lease Extension
Songangol, the Angolan state oil company, awarded Saipem a 2-year extension for the lease of the Gimboa FPSO. The Gimboa field, located in Block 4/05, began production in the beginning of 2009 but the FPSO has been operational in the block since 2006. Valued at roughly $150 million, the extension will keep the vessel at the field through 1Q 2017.
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