BW Energy completes Golfinho FPSO acquisition

Offshore staff

OSLO, Norway — BW Energy has taken delivery of the FPSO Cidade de Vitoria from Saipem.

The vessel, with a 1.6-MMbbl storage capacity, is producing about 10,000 bbl/d of oil from the Golfinho Field offshore Brazil. BW Energy recently became operator following a transaction with Petrobras for the Golfinho cluster.

Acquiring the FPSO will also allow the company to reduce field opex.

BW Energy will pay Saipem $73 million in fixed consideration, with $38 million already paid during thie third quarter and the remainder to be paid in 18 monthly installments.

Recently, the platform underwent a program of upgrades and repairs. It can produce more than 100,000 bbl/d of oil with additional capacity for gas production and compression, which BW Energy plans to draw on to accommodate upside from planned future developments in the area.

11.21.2023