North Sea operator, Repsol Sinopec Resources UK (RSRUK), has reached an agreement with floater specialist Bluewater to extend the bareboat charter for the floating production storage and offloading (FPSO) unit Bleo Holm.

The new contract will run until December 31, 2024 and Repsol Sinopec may take out further extensions at their discretion.

José Luis Muñoz, Repsol Sinopec CEO, said: “In alignment with the Oil & Gas Authority’s MER UK Strategy this is a clear demonstration of our commitment to the North Sea and is a timely development to encourage further investment, increase production and facilitate life extension for the area, all while remaining focussed on emissions reduction opportunities.”

The 1997-built Bleo Holm FPSO, owned by Bluewater and operated by Repsol Sinopec, is located on the UK Continental Shelf in Block 13/28a on the Blake and Ross Fields, 116 km northeast of Aberdeen.