Another FPSO leaves BW Offshore’s fleet

Norway’s FPSO operator BW Offshore has completed the sale of another floating, production, storage, and offloading (FPSO) vessel to a buyer, whose name was not revealed.

FPSO Sendje Berge; Source: BW Offshore

BW Offshore recently revealed that it had closed the sale of the FPSO Sendje Berge to an undisclosed local FPSO owner and operator for a total consideration of $15 million. The new buyer has assumed responsibility for the operations of the vessel, which completed more than 18 years on the Okwori field off Nigeria since it started operations in April 2005.

The FPSO Sendje Berge has an oil processing capacity of 50,000 bbl/d, a gas handling capacity of 55 mmscfd, and a storage capacity of 2 million bbl.

This sale comes less than a month after BW Offshore completed the divestment of the FPSO Espoir Ivoirien, nearly three months after the company sold the FPSO BW Athena, and almost four months after the firm offloaded the FPSO BW Opportunity. In addition, the company got rid of several vessels last year, including the FPSO Cidade de São Vicente and the FPSO BW Joko Tole.

Furthermore, BW Offshore is working on expanding the niche oil and gas segment by redeploying existing FPSOs and divesting non-core assets. To this end, the company is engaged in divestment dialogues for the FPSO Abo, which it previously intended to close in 1H 2023.

Additionally, the FPSO operator expects the recycling of the FPSO Petróleo Nautipa late in 2023 and the conclusion of the sale of the FPSO Polvo in 2Q 2023.