BW Offshore and Ithaca Energy have agreed to terminate the contract for FPSO BW Athena, which will be demobilised in February 2016.
The FPSO was deployed in the Athena field, located in the Moray Firth area of the UK Continental Shelf.
BW Athena first operated under a three-year contract, and the operation was extended with a five-year contract with mutual termination right on a rolling 12-month notice.
In addition, the company announced that it has secured a one-year contract extension for the lease and operation of the FPSO Umuroa.
The firm period has been extended to Q4 2017 from Q4 2016.