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BW Energy to acquire semi-submersible drilling rig for Kudu development

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Oilfield Technology,


BW Energy has said that it is progressing a revised development plan for the Kudu gas field offshore Namibia. The new development plan for the gas to power project will use a repurposed semi-submersible drilling rig as a Floating Production Unit.

The company has signed an agreement to acquire the semi-submersible drilling rig Leo from Aquadrill LLC for a total consideration of US$14 million.

“The revised development concept offers tangible financial, schedule and environmental benefits. The re-use of existing facilities also supports a substantial reduction in field development related greenhouse gas emissions compared to a new-build,” said Carl Krogh Arnet, the CEO of BW Energy. “We have consequently decided to take advantage of the availability this high-quality semi at an attractive price. The replacement of imported power with domestic power produced with natural gas will reduce Namibia`s carbon footprint and ensure power stability for the future.”

The revised integrated development plan aims to supply competitive power to a growing African market.

“We consider the electrification of the African economies as a significant long-term growth opportunity for BW Energy and a potential avenue for us to develop a new strategic position closer to the end customers of energy,” said Carl Krogh Arnet.

The timing of the final project sanctioning is subject to realising a project financing solution for the Kudu gas to power project.

BW Energy has also awarded a rig conversion contract to Lamprell. The project will commence immediately and is scheduled for completion in 2022. The scope of work involves the conversion of BWE’s Hibiscus Alpha jack-up rig into an offshore production facility.

Lamprell's Chief Executive, Christopher McDonald, said: “We are honoured to have been selected by BW Energy for this major rig conversion. Lamprell offers many decades of experience executing such work scopes and we look forward to working with our client to deliver a first-class asset safely over the coming months.”


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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/26102021/bw-energy-to-acquire-semi-submersible-drilling-rig-for-kudu-development/

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