Awarded restricted discover to proceed for Shell’s

Awarded restricted discover to proceed for Shell’s Gato do Mato growth in Brazil

BW Offshore is happy to announce the award of a restricted discover to proceed (LNTP) by Shell Brasil Petróleo Ltda (Shell) and its companions for early-stage engineering and provider reservations for the availability of an FPSO for the Gato do Mato oil and gasoline discipline offshore Brazil.

The LNTP is valued as much as USD 50 million. Upon completion of the LNTP, Shell and its companions goal to award a lease and function contract to a consortium comprising BW Offshore and Saipem S.p.A., which might be collectively chargeable for the engineering, procurement, building, and set up (EPCI) of the FPSO with anticipated supply in 2026. The award is topic to the events finalising the industrial and pricing phrases of the contract in view of the present inflationary provide chain market and a remaining funding choice to proceed by Shell and its companions.

The FPSO lease and function contract can have a agency interval of 18 years with seven years of choices.

“We’ve a transparent technique of creating and working infrastructure kind floating manufacturing options with long-term contracts and funding grade counterparties. Gato do Mato is a sturdy challenge assembly all our necessities,” mentioned Marco Beenen, the CEO of BW Offshore. “We are going to replicate the Barossa challenge mannequin, bringing in fairness companions, and take it one step additional by partnering with Saipem for the EPCI section so as to add execution capability and capabilities. We’re more than happy to group up with Saipem and look ahead to constructing a long-term relationship with Shell and its companions in Brazil.”

For additional data, please contact:
Ståle Andreassen, CFO, +65 97 27 86 47
Anders S. Platou, Head of Company Finance & Technique, +47 99 50 47 40

IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers modern floating manufacturing options. The Firm has a fleet of 12 FPSOs with potential and ambition to develop. By leveraging 4 a long time of offshore operations and challenge execution, the Firm creates tailor-made vitality options for evolving markets world-wide. BW Offshore has round 2,000 staff and is publicly listed on the Oslo Inventory Change.

This data is taken into account to be inside data pursuant to the EU Market Abuse Regulation and topic to the disclosure necessities pursuant to Part 5-12 the Norwegian Securities Buying and selling Act. This inventory alternate launch was revealed by Eric Stousland, IR & Company Finance at BW Offshore, on 26.05.2022 at 17:46 CEST