By:Africaoilgasreport

All the three firms are subsidiaries of the Singapore and Oslo based based BW Group, a maritime company involved in shipping, oil & gas production and floating hydrocarbon infrastructure.

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 $100Million, exercisable in 2028. “The parties have been working and will continue to work together on the transition until 30 June 2025 to ensure a safe and uninterrupted transfer of operations”, BW Offshore said in a statement.

BW Energy Gabon is on a growth trajectory in crude oil production; in 2024, it grossed 27,700Barrels Per Day, which handed it 20,360BOPD on a working interest basis. This was 74% of the overall global output of BW Energy Limited, which also has producing properties in Brazil and exploration assets in Namibia.

“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. “The seamless execution reflects the commitment of both teams to safeguard personnel, the environment, and asset integrity.”

BW Adolo has 40,000BOPD crude oil processing capacity, with 18Million standard cubic feet per day (MMscf/d) gas handling capacity and water injection capacity of 60,000 barrels per day. Its overall storage capacity is 1,350,000 barrels.