BW Energy has concluded an agreement to acquire the floating production, storage and offloading ( FPSO ) unit Powder from BW Offshore. This agreement includes a payment plan of 50 million dollars, with 30 million delivered on the date of transfer of the vessel and the remaining 20 million financed through a credit granted by the Norwegian operator. With the payment of the $20 million plus interest , BW Offshore has officially confirmed the completion of the sale.
FPSO overhaul in China
Additionally, the Polvo FPSO , which was originally designed to operate in the Polvo field in Brazil, had concluded 14 years of service before being deactivated in 2021 . Now, under new ownership by BW Energy, the vessel will be refurbished in China , preparing for reuse at the Maromba field.
Subsequently, after purchasing Petrobras and Chevron shares in 2019 for a value of $115 million, BW Energy took an active part in the Maromba project. The development of the field is planned to be carried out through an initial phase that will include the drilling of three wells, expected to reach initial production in 2025, followed by a second phase with three additional wells planned for 2027.
Production potential and capacities of the FPSO Powder
At its peak, total oil production from the Maromba field is estimated to be between 30,000 and 40,000 barrels per day. The floating production unit, storage and discharge Powder, with a storage capacity of 1.2 million barrels, It will have a total liquid capacity of 85,000 barrels per day, a production capacity of 65,000 barrels of oil per day and a capacity to treat 75,000 barrels of water per day.
BW Energy’s strategy focuses on increasing its oil production, and its commitment to recycling and environmental sustainability . This was recently evidenced when BW Offshore removed another FPSO from its fleet to be recycled at the Baijnath Melaram facility in India, marking an important step towards more responsible industrial practices.
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Source: offshore-energy.biz
Photo: Shutterstock
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