BW Energy: Completes acquisition of the FPSO Cidade de Vitoria
21 Novembre 2023 - 7:30AM
BW Energy: Completes acquisition of the FPSO Cidade de
Vitoria
Completes acquisition of the FPSO Cidade de
Vitoria
BW Energy has completed the acquisition of the FPSO Cidade de
Vitoria from Saipem S.p.A. The FPSO is currently producing
approximately 10,000 barrels per day of oil from the Golfinho field
offshore Brazil, supported by the Company’s local operating
organisation.
According to the agreement that was entered into in June 2022,
BW Energy will pay Saipem a total of USD 73 million in fixed
consideration for the FPSO, of which USD 38 million was paid in the
third quarter 2023. A further USD 35 million will be paid in 18
monthly instalments following the takeover, with the first
instalment already paid.
The FPSO Cidade de Vitoria is a flexible unit with 1.6 million
barrels of storage capacity. The unit, which recently underwent
repairs and upgrades, can produce more than 100,000 barrels per day
of oil and has additional capacity for gas production and
compression. It positions BW Energy to efficiently increase
production from the Golfinho cluster with ample oil and gas
handling capacity to accommodate the upside from planned future
developments. The FPSO acquisition will enable BW Energy to reduce
the whole field OPEX.
For further information, please
contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78
76 ir@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated
strategy targeting proven offshore oil and gas reservoirs through
low risk phased developments. The Company has access to existing
production facilities to reduce time to first oil and cashflow with
lower investments than traditional offshore developments. The
Company’s assets are 73.5% of the producing Dussafu Marine licence
offshore Gabon, 100% interest in the Golfinho and Camarupim fields,
a 76.5% interest in the BM-ES-23 block in, a 95% interest in the
Maromba field in Brazil and a 95% interest in the Kudu field in
Namibia, all operated by BW Energy. Total net 2P+2C reserves and
resources were 546 million barrels of oil equivalents at the start
of 2023, when including the Golfinho Clusters.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading
Act
BW Energy (TG:6BW)
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