BW Offshore and BW Energy have announced that operations and maintenance (O&M) of the floating, production, storage and offloading (FPSO) vessel BW Adolo have been handed over to BW Energy’s subsidiary, BW Energy Gabon.
Under an amended bareboat charter, BW Offshore’s subsidiary retains ownership of the unit and will continue to lease the FPSO to BW Energy Gabon on the same terms as previously agreed without the O&M services.
The charter includes a mutual put-and-call option on the FPSO for $100 million, exercisable in 2028.
The parties have been working and will continue to work together on the transition until June 30, 2025 to ensure a safe and uninterrupted transfer of operations.
“Transferring daily operational control of BW Adolo to BW Energy Gabon is a natural step given their growing presence in Gabon and potential to capture efficiencies across the local organisation,” said Marco Beenen, the CEO of BW Offshore.
“Assuming full O&M responsibility will allow BW Energy Gabon to optimise field performance and capture additional synergies across the Dussafu hub. We thank BW Offshore for its exemplary stewardship of the vessel and its continued support during the transition phase,” added Carl K. Arnet, the CEO of BW Energy.
The unit remains deployed on the Dussafu Marin licence offshore Gabon, where it has produced since first oil in 2018.