BW Offshore Hands Over Operations of BW Adolo to BW Energy

Successful Transition of BW Adolo Operations

In a significant operational shift, BW Offshore Limited and BW Energy Limited have announced the successful handover of the FPSO BW Adolo operations to BW Energy Gabon SA. This strategic transition marks a new chapter in managing one of the industry’s most vital floating production storage and offloading units.

Details of the Handover

Starting from a specified date, BW Offshore's subsidiary officially transferred the operations and maintenance (O&M) responsibilities to BW Energy’s subsidiary. Under the revised bareboat charter, BW Offshore retains ownership of the FPSO while continuing to lease it to BW Energy Gabon. This agreement will maintain pre-established terms, focusing on ensuring uninterrupted services during the transition period.

Future Opportunities and Goals

Both companies are committed to working hand-in-hand throughout the transition process, with efforts continuing to ensure the safe transfer of operations up until a designated final date. Marco Beenen, CEO of BW Offshore, emphasized the importance of this handover as a natural progression due to BW Energy’s expanding role in the region. Beenen highlighted their joint commitment to personnel safety, environmental stewardship, and maintaining asset integrity during this time.

Statements from Leadership

Carl K. Arnet, CEO of BW Energy, expressed confidence in this new arrangement, stating that taking full O&M responsibility would enable BW Energy Gabon to enhance field performance further. This leadership transition promises to unlock additional synergies across the Dussafu hub, which is crucial for maximizing efficiency in operations. Both leaders extended gratitude to the dedicated teams who have contributed to the safe and efficient operation of BW Adolo over the years.

Ongoing Operations at Dussafu

Currently stationed on the Dussafu Marin license offshore, BW Adolo has successfully produced oil since it began operations in a previous year. The commitment shown by all personnel involved over the past years has ensured that the unit operated under rigorous safety protocols, and the transition is expected to maintain these standards.

Contact Information

For additional inquiries, interested parties can reach out to Ståle Andreassen, CFO, via phone at +47 91 71 86 55 or through the company’s email at IR@bwoffshore.com. More information is accessible on www.bwoffshore.com.

About BW Offshore

BW Offshore is renowned for engineering innovative floating production solutions. The company boasts a diverse fleet of FPSOs, aiming for sustainable growth by applying more than four decades of offshore operational expertise. BW Offshore tailors its energy solutions to meet the changing demands of global markets, powered by a dedicated workforce of approximately 1,100 employees, with the company publicly traded on the Oslo stock exchange.

Frequently Asked Questions

What does the handover of BW Adolo operations signify?

The handover marks a key operational transition where BW Energy Gabon assumes full responsibilities, allowing for efficiency optimizations in the region.

Who retains ownership of the FPSO BW Adolo after the handover?

BW Offshore retains ownership of the FPSO while leasing it to BW Energy Gabon under new terms.

When will the transition period end?

The transition period is set to conclude at a specified date, ensuring a seamless completion of the operational handover.

What are the expected benefits for BW Energy Gabon?

BW Energy Gabon aims to optimize field performance and realize synergies within the Dussafu hub through full O&M responsibility.

How long has the BW Adolo been in operation?

BW Adolo has been operational since first oil production, which began a few years ago, contributing significantly to the local energy portfolio.

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