BW Offshore gets $80M loan

BW Offshore has signed a loan documentation for a new $80 million senior secured credit facility in respect of the FPSO Petroleo Nautipa.

Petroleo Nautipa is operating for Vaalco Energy in Gabon under a firm charter contract until Q3 2020, with options for additional two years.

The loan to the Norwegian provider of floating production vessels has a tenor of 7.5 years.

BW Offshore has said that the proceeds will be used for general corporate purposes.

BW Offshore is the world’s second largest contractor with a fleet of 14 FPSOs and 1 FSO. The company also operates additional 2 FPSOs. BW Offshore is listed on the Oslo Stock Exchange.


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