BW Offshore Concludes Sale of FPSO BW Pioneer to Murphy Oil

Wednesday, March 26, 2025
BW Pioneer FPSO (Credit: BW Offshore)

BW Offshore has closed the sale of the floating production, storage, and offloading (FPSO) BW Pioneer to a subsidiary of Murphy Oil Corporation for $125 million.

Following the close of the transaction, BW Offshore has received the initial payment of $100 million.

The remaining balance is expected before end of the second quarter of 2025 when certain contractual obligations are met, the company said.

The two parties have also signed a five-year reimbursable O&M contract, under which BW Offshore will continue to provide operations and maintenance services.

BW Pioneer was converted in 2009 at Keppel Shipyard. It has a storage capacity of about 600,000 barrels of oil and a processing capacity of 80,000 barrels per day.


Categories: Europe Oil and Gas Vessels Industry News Activity FPSO

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