BW Offshore

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BW Offshore
Public
Traded as OSE: BWO
Industry Petroleum
Founded 1982
Headquarters Singapore and Oslo, Norway
Area served
Global
Key people
Carl K. Arnet (CEO)
Products FPSO
Revenue Increase USD 982.4 million (2013)
Increase USD 181.4 million (2013)
Total assets USD $3.4 billion (2013)
Number of employees
2,200
Website www.bwoffshore.com

BW Offshore is a global owner and operator of floating production storage and offloading (FPSO) vessels. The company is listed on Oslo Stock Exchange. The company has its headquarters in Singapore and Oslo, Norway but operates internationally. The largest owner is BW Group Limited with 49,3% of the shares.

The company operates vessels in Brazil, Mexico, United States, United Kingdom, Russia, Mauritania, Ivory Coast, Nigeria, Gabon, New Zealand, and Indonesia with a total of 14 FPSOs and 1 FSO.

History[edit]

BW Offshore originates from the shipping company Bergesen d.y. ASA[1]who delivered its first FSO Berge Sisar in 1982 which it installed and operated at the Block O field offshore Angola. In 2003 Bergesen was acquired by World-Wide Shipping and was 2005 renamed Bergesen Worldwide. In the same year the floating production part of the company was established as a separate company, Bergesen Worldwide Offshore. In 2006 the company was rebranded BW Offshore and listed on the Oslo Stock Exchange.

In 2007, BW Offshore acquired the ownership of Advanced Production and Loading (APL), making the company its technology division.[2] APL which is based in Arendal, Norway and is a specialist in the engineering and supply of offloading and transfer systems for ships and terminals. It has delivered loading equipment for production vessels, storage vessels and shuttle tankers in the North Sea, Africa, Asia, Oceania, Russia, Latin-America, and the USA. In 2006, APL ventured into FPSO contracting by establishing Nexus Floating Production that consequently also became controlled by BW Offshore. In 2010, BW Offshore sold APL to National Oilwell Varco.[3]

In 2010, BW Offshore Limited completed the acquisition of remaining 76.12% stake [4] in Prosafe Production Public Ltd. Prior to the transaction, BW Offshore Limited owned 23.88% and hence, completed the 100% acquisition of Prosafe Production.

Presence and Units[edit]

As of December 31, 2013, BW Offshore owned a fleet of 14 FPSOs, 1 FSO and 1 FPSO conversion candidate (Blue Opal). It also operates 2 FPSOs owned by oil companies.

In May 2014, BW Offshore was selected by Premier Oil to execute the engineering, procurement, construction, installation and operation of a new built FPSO for its Catcher field in the UK North Sea.

Fleet[edit]

FPSO Vessel Name Oilfield Location Operator Contract Duration Water depth (m) Status
Azurite Republic of the Congo Congo Prosafe 2009 -
BW Pioneer Cascade & Chinook United States Gulf of Mexico Petrobras America 2012 - 2017 2600
YÙUM K'AK'NÀAB Ku-Maloob-Zaap Mexico Mexico Pemex 2007 - 2022 90
Berge Helene Chinguetti Mauritania Mauritania Petronas 2006 - 2017 850 Notified contract termination May 2017
Sendje Berge Okwori Nigeria Nigeria Addax/Sinopec 2005 - 2018 140
Abo Abo Nigeria Nigeria ENI 2003 - 2016 800
Espor Ivorien Espoir Ivory Coast Ivory Coast CNR 2002 - 2017 118 Extended to 2022
Petroleo Nautipa Etame Gabon Gabon Vaalco 2002 - 2020 80
BW Cidade de São Vicente Lula South Brazil Brazil Petrobras 2009 - 2019 2140
Cidade de São Mateus Camarupim Brazil Brazil Petrobras 2009 - 2018 763 Disconnected due to accident
Polvo Polvo Brazil Brazil HRT 2007 - 2018 85 Extended to Q3 2018
Peregrino (Operations) Peregrino Brazil Brazil Statoil 2013 - 2016 120 Termination operation contract with Statoil, June 2017
P-63 (Operations) Papa Terra Brazil Brazil Petrobras 2013 - 2016 1150
Belokamenka Murmansk Russia Russia Rosneft Oil Company 2004 - 2015 30 Disconnected
BW Athena Athena United Kingdom UK Ithaca Energy 2012 - 2020 130 Demobilised Feb 2016
BW Joko Tole Terang Sirasun Batur (TSB) Indonesia Indonesia Kangean Energy 2012 - 2022 100
Umuroa TUI New Zealand New Zealand AWE 2007 - 2017 120
Catcher Catcher United Kingdom UK Premier 2017 - 2024 90 Construction Phase
Blue Opal Available n/a

References[edit]

External links[edit]