OSLO, Norway — BW Energy has received notification to resume work related to the Golfinho transactions offshore Brazil with Petrobras.
Earlier this month, the process was put on hold after the government requested Petrobras to pause its ongoing divestments process.
BW Energy will now look to close its acquisition of a 100% operated interest in the Golfinho and Camarupim clusters and 65% in the BM-ES-23 block from Petrobras, as well as taking over the FPSO Cidade de Vitoria from Saipem.
Work includes progressing relevant approvals from the Brazilian authorities, operational preparedness, field development planning and building up the local BW Energy organization.
Closing the field transaction and FPSO takeover remains subject to fulfilment or waiver of conditions precedent and the re-start of the FPSO following upgrades required by ANP.
BW Energy expects to conclude the process during the second quarter.
