BW Offshore Gets FPSO Abo extension
Global provider of floating production services to the oil and gas industry BW Offshore has signed an interim extension agreement for Abo FPSO with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., until 30 April 2018. The short term extension has been agreed to secure operational continuity while joint work is continuing to conclude the negotiations. Two weeks ago, BW Offshore received notice from Petrobras of the exercise of a one-year extension of the contracts relating to the FPSO Cidade de São Mateus.
BW Offshore Awards SatCom Contract to Orange
Provider of floating production services to the oil and gas industry, BW Offshore, says it has signed a 5-year, $12 million contract with Orange Business Services for an end-to-end satellite communication solution for its fleet of oil and gas production vessels. Orange Business Services is providing Maritime VSAT – a fully managed end-to-end satellite-based communication solution – which fully integrates BW Offshore’s 14 vessels and two land-based locations into the Orange MPLS network.
LNG-FSRU Vessel: BW Place Samsung Contract
BW Maritime inks contract with Samsung Heavy Industries for BW’s first Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU). Expected to be delivered in 2015, it will be the latest addition to BW's fleet of 16 LNG carriers, building on and increasing its existing LNG expertise. This vessel and floating terminal will be able to receive and convert LNG into its gaseous form for offloading via pipelines, to gas facilities on-shore. BW is focused on its vision to be the leading brand in energy transportation…
Training Initiative by BW Offshore & Seagull
BWO Offshore and Seagull Oil & Gas are cooperating to develop industry-leading training material for the offshore industry. Building on a training relationship stretching back almost two decades, BW Offshore and Seagull are developing new training material to cover BW Offshore’s process and production operations. “This is a great opportunity for Seagull Oil & Gas,” says Morten Aasen, Managing Director, Seagull Oil & Gas. “We have the ambition to offer the most comprehensive training library for the oil & gas industry, and BWO Offshore is an ideal partner for us.
BW Offshore Gets Contract Extension for FPSO Polvo
BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract…
BW Fleet Management Repair Deal at ASRY
Tanker operator, BW Fleet Management, expanded its Fleet Repair Agreement with ASRY’s Bahrain yard. The new repair agreement was signed by Morten Steen Martinsen, managing director of BW Fleet Management and Chris Potter, CEO of ASRY, in April in Bahrain. The Norwegian company, which operates out of both Oslo and Singapore, manages a fleet of more than 90 vessels operated by BW Gas and BW Maritime, and the ASRY repair agreement involves those crude oil tankers, product tankers and LPG carriers that trade to the Arabian Gulf, giving guaranteed dock space and fixed rates.
Kongsberg to Supply FPSO Safety System
Kongsberg Maritime Engineering (KME), the wholly owned Engineering, Procurement and Construction (EPC) subsidiary of global maritime technology developer Kongsberg Maritime, will deliver an Integrated Control and Safety System for the new BW Offshore Catcher FPSO. The contract follows BW Offshore’s signing of a lease and operate contract with Premier Oil and its joint venture partners at the end of April 2014 for a FPSO to operate on the Catcher oil field in the U.K. North Sea. The field is owned by Premier Oil (50%, operator), Cairn Energy (30%) and MOL (20%). BW Offshore's scope includes the delivery of the FPSO, mooring system, installation and operation of the unit throughout the charter period.
BW Group Aims to Double its Size
BW Group aims to double its value to $10 billion by 2010, and may fund its growth by listing its business units, NDTV.com reported. Increased supply deals with Chinese oil majors and new tanker orders will lead to growth that could see BW offer the public shares in its units not already listed. The BW Group has four divisions: BW Tankers, BW Bulk and BW Offshore and BW Gas, a unit that was listed on the Oslo stock exchange last year. The gas unit, which transports liquefied natural gas and liquefied petroleum gas in tankers, was acquired in 2003 when the group bought Norwegian gas heavyweight Bergesen DY. The company has hopes of doubling its equity every five years and foresees potential acquisitions to meet its growth ambitions.
BW Offshore Extend FPSO Nigerian Contracts
BW Offshore has agreed an extension for their FPSO's 'Abo' and ''. The extension for Abo is with Nigerian Agip Exploration Ltd of nine months. and for Sendje Berge with Addax Petroleum Exploration Ltd of three months. These extensions have been agreed to secure operational continuity while joint work to detail longer term programs for investment and production are completed. About BW Offshore: BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore is the world's second largest contractor with a fleet of 14 FPSOs and 1 FSO represented in all major oil regions world-wide.
DSME to Build Two VLCCs for BW Group
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has received a 200 billion won (US$179.2 million) order to build two oil tankers for Singapore-based oil and gas transporter BW Group. According to Yonhap, DSME will provide the oil and gas transporter two 318,000-ton Very Large Crude Carriers (VLCCs) by 2018. The BW Group has ordered a total of 63 ships from Daewoo Shipbuilding and has received 53 so far. This is the 10th order DSME has won this year, and the total amount has crossed US$1 billion.
BW Catcher Sails to North Sea
BW Offshore, a leading global provider of floating production services to the oil and gas industry, announced the sail away of the FPSO BW Catcher. The vessel has left Keppel Shipyard in Singapore and is currently in transit to the Catcher field in the central North Sea. BW Catcher is expected to reach UK waters early in the fourth quarter, depending on prevailing weather conditions. Upon its arrival, BW Catcher will commence a seven-year fixed term contract, with extension options of up to 18 years, with Premier Oil.
BW Gas Acquires Yara Fleet
Yara International ASA (Yara) and Bergesen Worldwide Gas ASA (BW Gas) have entered into a Heads of Agreement under which Yara sells its LPG/ammonia fleet to BW Gas consisting of seven fully owned and three chartered-in vessels for an agreed price of $347m. Yara and BW Gas will also enter into a partnership agreement under which BW Gas will provide shipping services that Yara has defined to be non-core. The partnership will increase both parties' flexibility providing a platform for future expansion of their seaborne ammonia trading and transportation businesses.
BW Group, Mitsui Form FSRU Joint Venture
A joint venture agreement between Japan’s Mitsui & Co. and Singapore’s BW Group Limited will see Mitsui purchase a 49 percent share in the floating storage and regasification unit (FSRU) BW Integrity, while BW will maintain a 51 percent share. The deal is expected to close as soon following payment for the acquisition. BW Integrity is currently in Port Qasim on a 15-year charter to PGP Consortium Limited (PGPC), to provide LNG regasification services at Pakistan’s second LNG import terminal. BW will continue to provide commercial and technical management services.
BW Offshore CEO Sees Signs of Recovery
BW Offshore, which delivers floating production services to the oil and gas industry, sees signs of an improved market. "It's still early days but we definitely see a pick-up in discussions and tendering activity," CEO Carl Arnet said during the firm's first-quarter earnings presentation. Says Brazil will be important but also sees activity elsewhere. BW Offshore reported Q1 earnings below forecast on Monday. Regarding the FPSO Cidade de Sao Mateus, which has been off work since an explosion in February 2015: Insurance settlement gave a positive liquidity effect in Q1.
LPG Tanker Collides with Indian Ship Off Chennai
A gas tanker from Oslo-listed shipping company BW LPG has collided with an Indian ship off the coast of Chennai in India, a BW LPG executive said on Monday. The BW Maple, with a total capacity of 82,000 cubic metres of liquefied petroleum gas, was half full when it collided with another ship. There were no reports of injuries, he said. "There has been no spill from our ship, but it looks like there has been an oil spill from the other ship," Pontus Berg, BW LPG's head of technical and operations, told Reuters. He did not have reports of any injuries, he said. (Reporting by Joachim Dagenborg, writing by Gwladys Fouche, editing by Terje Solsvik)
Wärtsilä and BW Gas Sign Training Contract
Wärtsilä Corporation and the Norwegian gas transportation company BW Gas ASA of Oslo signed a contract in January 2007 for the training of BW Gas personnel. The contract is for two years. The training courses provided under this contract are tailored to the specific requirements of BW Gas to cover the specific operational and performance aspects of the ships in the BW Gas fleet. The objective is to give ships' personnel and shore management a sound basis for cost-efficient, safe and reliable operation of the company's ships. It is intended that the training courses go beyond the usual practical training for various ship systems and equipment to transfer knowledge about engine performance and operation philosophy in order to ensure optimum operation of the ships' plants.
India Impounds Ships, Detains Crew Over Oil Spill
Port authorities in Chennai have impounded a BW LPG vessel and a local ship carrying heavy fuel oil, and detained their crews, a spokesman for the port said on Friday, after their collision last week caused an oil spill affecting marine life and local fishing. About 20 tonnes of heavy fuel oil leaked and a complete clean-up is expected to take eight to 10 days, according to an Indian coast guard spokesman. BW Maple, with a total capacity of 82,000 cubic metres of liquefied petroleum gas, was half full when it collided near Chennai with the Indian ship Dawn Kanchipuram on Saturday. The port spokesman said the sludge - a mixture of oil, water and sand - has travelled over 18 miles, polluting the Marina Beach, one of the world's longest.
New Bergesen Worldwide Gas Deal for MTS
Marine Transaction Services (MTS), a leading provider of second generation e-business solutions, has recently secured a contract with Bergesen Worldwide Gas ASA (BW Gas), formerly Bergesen d.y. ASA. The agreement comprises MTS’ product Buyerlink, which provides BW Gas with access to MTS’ integrated trading network, as well as Electronic Invoicing. MTS has for the past 3 years delivered one-2-one connectivity services to BW Gas. This contract marks BW Gas’ transition to full-scale MTS customer. “This is a natural progression towards a fully electronically supported supply chain for BW Gas. With the increased process speed and quality MTS’ services offer, we are truly moving costs out of our value chain, states Tor-Egil Gjulem, Purchasing Manager of BW Gas.
Pakistan Mulls Second LNG Import Terminal
BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal. BW’s state-of-the-art FSRU, Hull No. 2118 and currently at Samsung Heavy Industries (SHI) in Korea, will be utilized for this project. To be delivered in 4Q2016, the vessel offers a low environmental footprint, high efficiency, storage capacity in excess of 170,000m3 and a peak regasification capacity of 750mmscfd.
BW LPG Establishes a JV in India
BW LPG Limited and Global United Shipping India Private Limited, have agreed to establish a joint venture in India in which the parties will own 50% each. The purpose of the new joint venture, named BW Global United LPG India Private Limited, is to own and operate Gas Carriers for the transportation of LPG within Indian waters. As part of the establishment, BW LPG will sell two of its vessels, BW Boss and BW Energy, to the joint venture company and to that end BW LPG has entered into binding vessel sales contracts.
Recent Vessel Sales: March 2018
BW LPG Exercises Purchase Option on Vermilion First
BW LPG Limited exercises purchase option over Very Large Gas Carrier Vermilion First. The VLGC Vermilion First has been on a time charter with BW LPG since the acquisition of the charter from AP Moller-Maersk in 2013. The Vermilion First was built in 2010 at Mitsubishi Heavy Industries, Nagasaki Shipyard, and has a capacity of approximately 77,324 cubic metres. BW LPG has exercised a purchase option which became available under the charter in Q1 2015. The transaction will be settled from free cash and the revolving credit facility. Aggregate consideration for the transaction is USD 73 million.
Catcher FPSO to Add about $200 mln in EBITDA/year
BW Offshore CEO Carl Arnet in FPSO (floating production, storage and offloading) firm BW Offshore Ltd says the Catcher field project in the British North Sea will add about $200 mln in annual EBITDA to its results when it comes on stream in December 2017. ** BW is also developing Dussafu field in Gabon.