BW Offshore closes the transaction for the sale of Abo FPSO
Published by Emily Thomas,
Deputy Editor
Oilfield Technology,
BW Offshore has closed the transaction for the sale of Abo FPSO to STAC Marine Offshore Limited, a member of the Nigerian Transport Group for US$20 million.
As part of the transaction, BW Offshore has entered into a bareboat charter with STAC to allow for uninterrupted operations for the client during a transition period of maximum two months. Upon expiry of the bareboat charter, STAC will assume responsibility for operations of the unit.
Originally recognised as the ‘Gray Warrior’, a Suezmax tanker constructed in 1976, the vessel underwent conversion at Keppel Shipyard before beginning its operations in April 2003. Abo FPSO has now reached a commendable milestone, having completed two decades of service on the Abo field. This achievement underscores its enduring contribution to the oil and gas industry in Nigeria.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/20092023/bw-offshore-closes-the-transaction-for-the-sale-of-abo-fpso/
You might also like
Global recoverable oil reserves hold steady at around 1500 billion bbl
Rystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1500 billion bbl, down some 52 billion bbl from the company’s 2023 analysis.