BW Offshore: First Oil produced by the BW Adolo FPSO
September 17 2018 - 12:00AM
BW Offshore is pleased to announce that first oil
from the BW Adolo FPSO was safely achieved on 16 September 2018, 18
months after the initial investment was made in the Dussafu license
offshore Gabon.
"We have achieved first oil from the Dussafu
license within budget and on schedule", said Carl K. Arnet, the CEO
of BW Offshore. "The execution of the Dussafu project confirms the
attractiveness of our model by combining proven resources, a
resourceful organisation and access to production assets to achieve
short time-to-oil."
The BW Adolo arrived in Gabon in late July and
hook up of mooring systems and installation of risers and
umbilicals were completed in September. The project was safely
completed without any harm to people or the environment.
The FPSO is installed on the Tortue field, one of
five proven discoveries in the Dussafu license. The BW Adolo is a
converted VLCC with a production capacity of 40,000 barrels of oil
per day. The vessel has undergone an increased life extension scope
enabling an extended production profile on the back of positive
reserve developments.
"Our first priority now is to complete start-up
activities and stabilise production on BW Adolo. We will at the
same time work towards the final investment decision on Tortue
Phase 2, which will unlock additional production volumes, and
continue the appraisal program of the recently announced discovery
at Ruche NE as well as to confirm additional resources and
strengthen the commerciality of the Dussafu license," said Carl K.
Arnet.
For further information, please contact:
Knut R. Sæthre, CFO, +47 911 17 876
IR@bwoffshore.com or www.bwoffshore.com
About BW Offshore:
BW Offshore is a leading provider of floating
production services to the oil and gas industry. The company also
participates in developing proven offshore hydrocarbon reservoirs.
BW Offshore is represented in all major oil and gas regions
world-wide with a fleet of 15 owned FPSOs. The company has more
than 30 years of production track record, having executed 40 FPSO
and FSO projects. BW Offshore is listed on the Oslo Stock
Exchange.
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
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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