LLOG Deepwater Development Company from the United States will acquire the semi-submersible production platform OPTI-EXTM from Belgium shipping group EXMAR, if the agreement in principle gets the go-ahead, for around US$400 million.
The OPTI-EXTM is currently located quayside in Ingleside, Texas in the United States. LLOG expects to install the OPTI-EXTM in the Mississippi Canyon Area of the Gulf of Mexico and initiate production in 2011. Processing capacity of the OPTI-EXTM will be 60,000 BOPD and 150 MMCFD of gas.
Among the conditions of the transaction is regulatory approval from authorities in the United States.
Payment of the transaction will be made over 62 months.
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