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Oslo Stock Exchange-listed BW Offshore has sold the VLCC BW Opal for USD 85.5 million to BW Group. The transaction is performed on an arms-length basis, based on independent valuation reports and technical inspection of the vessel. The agreement also includes an option for BW Offshore to buy-back the vessel until Q1 2017, the company […]
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Norwegian FPSO supplier BW Offshore has been informed by Statoil and Petronas that the contracts for two FPSO units will not be extended and will run out next year. On top of this, the company has initiated arbitration against a client who is not paying an FPSO lease. All this was revealed by BW Offshore on […]
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BW Offshore has signed a 5 year contract with Statoil for the operation of the FPSO Peregrino, with options for additional 15 years. The unit is operating on the Peregrino oil field offshore Brazil. BW Offshore will take over operation after a transition period of 6 months. BW Offshore is the world’s second largest FPSO […]
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BW Offshore, an Oslo-based supplier of floating production supply and offloading units (FPSO), has warned of a fraudulent use of the company’s name by unknown persons. Several suppliers have notified BW Offshore that unidentified persons have attempted to order equipment using the name of BW Offshore. Documents have been generated which appear to be on […]
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BW Offshore has concluded the syndication process for a USD 2.4 billion seven year senior secured credit facility. The credit facility was substantially oversubscribed by a group of 15 leading international banks. The facility will be used to refinance BW Offshore and Prosafe Production’s main credit facilities, as well as to finance further growth for […]
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BW Offshore has signed the contract for the FPSO BW Carmen with Ithaca Energy (UK) Ltd and partners. The FPSO will be employed on the Athena oil field in the UK sector and is expected to commence production during 2H 2011. The contract includes a fixed charter period of three years, plus options for additional […]
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BW Offshore has settled all claims and counter-claims related to the terminated Letter of Intent for the Basker Manta Gummy (BMG) project. The settlement involves a cash payment of USD 32.5 million to BW Offshore, to be paid and booked in the third quarter of 2010. The court case is adjourned pending final payment. About […]
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BW Offshore has completed Construction of the FPSOs BW Athena and BW Joko Tole and the units are currently in the final phase of commissioning before sail-away. The EPC project P-63/Papa Terra is also under completion in China until planned departure end of Q2 2012. The FPSO Ningaloo Vision has been sold to Apache in […]
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Seagull Oil & Gas, a provider of training solutions for oil and gas industry has announced that, together with an FPSO-provider BW Offshore, it is working to develop industry-leading training material for the offshore industry. The company has explained that, building on a training relationship stretching back almost two decades, BW Offshore and Seagull are developing […]
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BW Offshore has today completed the sale and purchase agreement with Yinson to take 100% ownership 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 FPSO has been with Vaalco since 2002, operating at the […]
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BW Offshore has signed a 5 year contract with Statoil for the operation of the FPSO Peregrino, with options for additional 15 years. The unit is operating on the Peregrino oil field offshore Brazil. BW Offshore will take over operation after a transition period of 6 months. BW Offshore is the world’s second largest FPSO […]
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BW Offshore has received an authorization to proceed with the completion of the FPSO OSX-1. The FPSO is owned by OSX and will operate for OGX on the Waimea oil field in the Campos Basin offshore Brasil. The scope of work includes among others topside modifications and the delivery of a Submerged Turret Production (STP) […]
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BW Offshore has signed a contract with Kangean Energy Indonesia (“KEI”) for a gas FPSO to operate on the Terang Sirasun Batur (“TSB”) fields in Indonesia. The partners of KEI are PT Energi Mega Persada (50.0%), Mitsubishi Corporation (25.0%) and Japan Petroleum Exploration (25.0%). BW Offshore has signed the contract with its two Indonesian partners; […]
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BW Offshore has signed the contract for the completion of the FPSO OSX-1, a project with an approximate value of the scope of USD 150 million. BW Offshore will act as the project manager, assisting the owner, a subsidiary of the Brazilian publicly traded company OSX Brasil S/A, providing engineering services, detailing the equipment required […]
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BW Offshore has initiated a process for reaching a mutual agreement for either of the two owners to take over the eventual 100% ownership of Tinworth Pte. Ltd., and correspondingly, the FPSO Petroleo Nautipa. Tinworth Pte. Ltd. and the FPSO is currently 50/50 owned between BW Offshore and Yinson Holdings Berhad through their respectively wholly owned Norwegian subsidiaries. […]
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Business & Finance, Operations & Maintenance, Project & Tenders
BW Offshore has elected to terminate the Letter of Intent (LOI) to acquire 30% of the participating interests in the Polvo oil field in Brazil from HRT O&G Exploração e Produção de Petróleo Ltda. (HRT). Such transaction was subject to due diligence, and regulatory, governmental and board approvals. Upon the expiry of the backstop date […]
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Authorities & Government, Business & Finance, Environment, Project & Tenders, Regulation & policy
BW Offshore’s efforts to remove its FPSO Umuroa from a field offshore New Zealand following last year’s contract termination have been hindered by legal complications.
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Addax Petroleum Exploration, part of the Sinopec group, has exercised the remaining two years of options for the FPSO Sendje Berge. The firm period has by this been extended until March 2013. The FPSO is operating on the Okwori field offshore Nigeria. About BW Offshore BW Offshore is one of the world’s leading FPSO contractors […]
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Business & Finance, Infrastructure
BW Offshore booked a loss for the second quarter of the year but the company is experiencing improved FPSO market activity.
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Business & Finance, Infrastructure
FPSO operator BW Offshore has made changes to its management team, including a new chief executive officer (CEO).
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BW Offshore has exercised an option to acquire the tanker Blue Opal for USD 83.4 million from Daewoo Shipbuilding & Marine Engineering (“DSME”). Blue Opal is a DSME designed and built VLCC (320,000 dwt) from 2012. BW Offshore has performed detailed engineering studies and inspections of the VLCC since Q4 2012, and is currently evaluating […]
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FPSO contractor BW Offshore said that Ithaca Energy has decided to terminate the charter contract of the FPSO BW Athena, and the unit will be demobilised in February 2016. BW Athena first operated under a three year contract at the Athena field, located in the Moray Firth area of the UK Continental Shelf, and the […]
