BW Offshore: Sendje Berge Termination
May 05 2017 - 11:00AM
With reference to stock exchange release dated 1
March 2017.
Sendje Berge Limited, a subsidiary of BW Offshore
Limited (BWO), has today received termination notice for the FPSO
Sendje Berge operating under a contract with Addax Petroleum
Exploration Nigeria Limited (Addax) on the Okwori field offshore
Nigeria.
The termination will have effect from 6 November
2017 and Addax has requested BWO to provide a demobilisation plan
for the FPSO.
BWO will continue the process with the enforcement
of the arbitration award for all outstanding claims against Addax.
The outstanding gross claim at the end of the first quarter 2017
was USD 61.8 million.
For further information, please contact:
Knut R. Sæthre, CFO, +47 9111 7876
IR@bwoffshore.com or www.bwoffshore.com
About BW
Offshore:
BW Offshore is a leading global
provider of floating production services to the oil and gas
industry. BW Offshore has a fleet of 14 owned FPSOs and one FSO
represented in all major oil & gas regions world-wide. BW
Offshore has a long track record on project execution and
operations. In more than 30 years of production, BW Offshore has
executed 38 FPSO and FSO projects. The company is listed on the
Oslo Stock Exchange.
This information is subject of the disclosure requirements acc. to
§5-12 vphl (Norwegian Securities Trading Act)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BW Offshore via Globenewswire
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