BW OFFSHORE COMPLETES STRATEGIC FPSO OPERATIONS TRANSFER TO GABONESE PARTNER
Energy service leader BW Offshore has successfully executed a strategic handover of operations and maintenance responsibilities for the FPSO BW Adolo to its exploration partner’s Gabonese subsidiary, BW Energy Gabon SA. This significant operational transition marks a new phase in the companies’ collaborative approach to offshore oil production in Gabonese waters.
Under the restructured contractual arrangement, BW Energy will maintain FPSO ownership through a bareboat charter agreement, continuing to lease the unit to BW Energy Gabon under existing terms while excluding operations and maintenance services. The FPSO continues its crucial role in oil production on the offshore Dussafu Marin license, a key asset in Gabon’s energy portfolio.
CEO Carl K. Arnet of BW Energy highlighted the strategic advantages of the transition, explaining that assuming full operations and maintenance responsibility will enable BW Energy Gabon to optimize field performance while capturing additional synergies across the Dussafu hub operations. This localization of operations represents a significant step toward enhanced operational efficiency and regional expertise development.
The agreement includes a mutual put-and-call option valued at $100 million for the FPSO, exercisable in 2028, providing both companies with strategic flexibility for future asset management. To ensure seamless continuity, both organizations will collaborate through June 30, 2025, maintaining focus on safe, uninterrupted operations during the transition period.
Source: energycapitalpower.com