BW Offshore has completed the acquisition of the FPSO Petroleo Nautipa.
The floating, production, storage, offloading vessel was, prior to the completion of the transaction, jointly owned by Norway’s BW Offshore and Malaysia’s Yinson Holdings through Tinworth, a joint venture company.
The price for the 50% stake acquired from Yinson was $49.3 million, plus approximately $10 million consideration for the working capital in Tinworth.
Petroleo Nautipa is operating for Vaalco Energy in Gabon under a firm charter contract until Q3 2020, with options for additional two years.