BWO BW Offshore Limited

BW Offshore: Short-term extension for BW Pioneer

BW Offshore: Short-term extension for BW Pioneer

Short-term extension for BW Pioneer

BW Offshore has signed a short-term extension agreement, maintaining current terms, for the FPSO BW Pioneer with a subsidiary of Murphy Oil Corporation until 25 March 2025. This extension facilitates the completion of administrative processes necessary for finalising the sale.

For further information, please contact:

Ståle Andreassen, CFO,

or

About BW Offshore:

BW Offshore engineers innovative floating production solutions. The Company has a fleet of 3 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act



EN
18/03/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on BW Offshore Limited

Martin Huseby Karlsen
  • Martin Huseby Karlsen

In a mid-cycle plateau

Following recent updates from E&P companies, we have reduced our 2025 offshore spending estimate to 0.5% (from c3% earlier this year). This is driven by a combination of actual 2024 spending being higher than expected (8% versus 4% previously), creating tougher comparables and a reduction in spending plans from Pemex in 2025. Despite growth flattening out, we still see the cycle building in duration, with execution of deepwater developments remaining on the agenda, albeit with a delayed executio...

ABGSC Energy Research ... (+6)
  • ABGSC Energy Research
  • Daniel Vårdal Haugland
  • Haakon Amundsen
  • John Olaisen
  • Njål Kleiven
  • Stian Wibstad
 PRESS RELEASE

BW Offshore: Short-term extension for BW Pioneer

BW Offshore: Short-term extension for BW Pioneer Short-term extension for BW Pioneer BW Offshore has signed a short-term extension agreement, maintaining current terms, for the FPSO BW Pioneer with a subsidiary of Murphy Oil Corporation until 25 March 2025. This extension facilitates the completion of administrative processes necessary for finalising the sale. For further information, please contact:Ståle Andreassen, CFO, or About BW Offshore:BW Offshore engineers innovative floating production solutions. The Company has a fleet of 3 FPSOs with potential and ambition to grow. By le...

ABGSC Energy Research ... (+6)
  • ABGSC Energy Research
  • Daniel Vårdal Haugland
  • Haakon Amundsen
  • John Olaisen
  • Njål Kleiven
  • Stian Wibstad
 PRESS RELEASE

BW Offshore: Sale of FPSO BW Pioneer with five-year O&M contract with ...

BW Offshore: Sale of FPSO BW Pioneer with five-year O&M contract with the buyer Sale of FPSO BW Pioneer with five-year O&M contract with the buyer BW Offshore has signed an agreement for the sale of the FPSO BW Pioneer for USD 125 million to a subsidiary of Murphy Oil Corporation (NYSE:MUR), the operator of the Cascade & Chinook field. The transaction includes an initial payment of USD 100 million upon delivery of the FPSO at the end of the current contract period, 18 March 2025, followed by the remaining balance upon receipt of the full-term class certificate for the period 2025-2030, e...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch