Ocean Yield has reached an NOK 25.9m ($3m) deal for their unemployed FPSO.
The Kjell Inge Rokke-backed, Oslo traded company has an option to bareboat charter the Dhirubhai-1 to affiliate Aker Energy for 15 years to help with an early-production project offshore Ghana.
If the ship remained unemployed, Ocean Yield was facing an impairment charge as much as $50m.
"If the option is exercised, we expect some revenues from the FPSO already this year and increased revenue contribution from first oil, which is targeted in 2021," said Ocean Yield chief executive Lars Solbakken.
The Dhirubhai-1 had been chartered by Reliance Industries in India on a decade-long charter. But that lease ran out in the fall and Reliance passed on its option to buy the ship.
Instead, it returned to Ocean Yield, who disclosed while posting impressive third quarter profits, that the charter-less ship could impact future performance.
As part of the deal announced Tuesday, Aker can extend the initial option period by another 30 days for additional payment.
If Aker takes Ocean Yield up on the deal, Ocean Yield will foot the bill for modifications to the Dhirubhai-1 "against a competitive charter rate that reflects the book value of the unit and the cost of the modification."
Aker Energy will hire the majority of personnel for the ship from Aker Floating Production and Aker has an option to offer employment after the option period.
