July 12, (THEWILL) – BW Offshore Limited, a global owner and operator of floating production storage and offloading vessels, has completed the sale of the FPSO Sendje Berge to a local FPSO owner and operator in Nigeria for $15 million, Africa Oil & Gas reports. The new buyer has assumed responsibility for operations.
Since startup in April 2005, the platform had operated on the Okwori Field for Addax, producing up to 50,000 bbl/d of oil, with a gas handling capacity of 55 MMcf/d and oil storage capacity of 2 MMbbl.
Earlier this month, BW Offshore signed a short-term extension for the Abo FPSO with Nigerian Agip Exploration Ltd., a subsidiary of Eni, until July 31, 2023.
And in mid-June, BW Offshore closed the transaction for the sale of the FPSO Espoir Ivoirien to its client for a total consideration of $20 million.
Following the transaction, BW Offshore said it will provide transitional operations and maintenance services for a period of up to five months.
BW Offshore Limited is listed on Oslo Stock Exchange. The company has its headquarters in Singapore and Oslo, Norway but operates internationally. The largest owner is BW Group Limited with 49.3% of the shares.
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
