Major oil company set for $20 million deal to buy West Africa FPSO

Calgary-based major Canadian Natural Resources is close to concluding talks to acquire a floating production, storage and offloading vessel in West Africa for US$20 million.

A decision is expected within weeks after the current FPSO owner said it has signed a four-week extension to the lease and operation contract in order to discuss the Canadian player’s “potential purchase” of the vessel.

Canadian Natural operates the Espoir and Baobab deep-water fields in the Ivory Coast, both of which have been in production for about 20 years.