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BW Offshore Ltd (BWO.OL)

BWO.OL on Oslo Stock Exchange

51.95NOK
23 Apr 2019
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Latest Key Developments (Source: Significant Developments)

BW Offshore: Agreement With Gabon Oil Company For Farm-In In Dussafu License
Tuesday, 19 Mar 2019 

March 19 (Reuters) - BW Offshore Ltd ::REG-BW OFFSHORE: AGREEMENT WITH GABON OIL COMPANY FOR FARM-IN IN THE DUSSAFU LICENSE.TODAY ENTERED AGREEMENT WITH GABON OIL COMPANY (GOC) FOR ACQUISITION OF 10% INTEREST IN DUSSAFU PRODUCTION SHARING CONTRACT.TRANSACTION IS SUBJECT TO FULFILMENT OF CERTAIN CONDITIONS PRECEDENTS,.TRANSACTION ENTAILS PAYMENT BY GOC OF USD 28.5 MILLION.  Full Article

BW Offshore Says Acquires 30 Pct Stake In Maromba Field Offshore Brazil
Thursday, 14 Mar 2019 

March 14 (Reuters) - BW Offshore Ltd ::ACQUISITION OF 30% STAKE IN MAROMBA FIELD OFFSHORE BRAZIL.ENTERED INTO AGREEMENT TO BUY REMAINING 30% OF MAROMBA FIELD OFFSHORE BRAZIL FOR TOTAL ACQUISITION COST OF USD 25 MLN FROM CHEVRON .WILL PROCEED TO FINALISE PLAN OF DEVELOPMENT FOR APPROVAL BY BRAZILIAN NATIONAL AGENCY OF PETROLEUM, NATURAL GAS AND BIOFUELS .ACQUISITION PRICE WILL BE PAID OVER THREE MILESTONES.  Full Article

BW Offshore Entered Into Agreement To Acquire 70 Pct Of Maromba Field Offshore Brazil
Friday, 8 Mar 2019 

March 8 (Reuters) - Bw Offshore Ltd ::BW OFFSHORE: ACQUISITION OF MAROMBA FIELD OFFSHORE BRAZIL.HAS ENTERED INTO AGREEMENT TO ACQUIRE 70% OF MAROMBA FIELD OFFSHORE BRAZIL FOR TOTAL ACQUISITION COST OF $90 MILLION FROM PETROBRAS.ACQUISITION PRICE WILL BE PAID OVER THREE MILESTONES AS DEVELOPMENT PROGRESSES TOWARDS FIRST OIL.ACQUISITION OF REMAINING 30% FIELD INTEREST IS PENDING BOARD APPROVAL BY CHEVRON.  Full Article

BW Offshore may buy Brazil's Maromba oil field
Monday, 4 Mar 2019 

March 4 (Reuters) - BW Offshore Ltd ::CONTEMPLATING FIELD ACQUISITION OFFSHORE BRAZIL.IS CONTEMPLATING TO ENTER INTO AGREEMENTS TO ACQUIRE 100% OF MAROMBA FIELD OFFSHORE BRAZIL FROM PRESENT OWNERS PETROBRAS (70%) AND CHEVRON (30%).CLOSING OF ACQUISITION IS SUBJECT TO BOARD APPROVALS AND FULFILMENT OR WAIVER OF CONDITIONS PRECEDENTS.MAROMBA FIELD IS LOCATED OFF BRAZILIAN COAST IN CAMPOS BASIN IN 160 METRES OF WATER DEPTH, WHERE BW OFFSHORE HAS EXTENSIVE OPERATING EXPERIENCE.COMPANY WILL PROVIDE FURTHER INFORMATION UPON SIGNING OF AGREEMENTS.  Full Article

BW Offshore starts repair of FPSO unit Cidade De Sao Mateus
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - BW Offshore Ltd ::BW OFFSHORE CEO: THE INTERNAL INVESTMENT ESTIMATE FOR PHASE II AT TORTUE DEVELOPMENT IN THE DUSSAFU LICENSE OFFSHORE GABON IS $275 MILLION.BW OFFSHORE CFO: EXPECTS EBITDA TREND LINE TO CONTINUE UPWARDS.BW OFFSHORE CEO: WE HAVE DECIDED TO REPAIR FPSO UNIT CIDADE DE SAO MATEUS CURRENTLY UNDER CONTRACT WITH PETROBRAS, PLANS TO USE ABOUT $60 MILLION IN FIRST PHASE.THE UNIT HAS NOT BEEN IN OPERATION SINCE AN ACCIDENT IN FEBRUARY 2015.THE STATEMENTS WERE MADE DURING THE COMPANY'S Q3 EARNINGS CALL ON TUESDAY.  Full Article

BW Offshore Q3 EBITDA in line with forecast
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - BW Offshore Ltd ::Q3 EBITDA $126.4 MILLION (REUTERS POLL $125 MILLION).FIRST OIL AT DUSSAFU ACHIEVED ON 16 SEPTEMBER.INVESTMENT DECISION MADE BY BWO FOR TORTUE PHASE 2.FIRST OIL FROM PHASE 1 OF TORTUE DEVELOPMENT, IN DUSSAFU LICENSE, WAS ACHIEVED 16 SEPTEMBER 2018 BY FPSO BW ADOLO WITHIN BUDGET AND AHEAD OF SCHEDULE WITH NO LOST TIME INCIDENTS.PRODUCTION PERFORMANCE HAS BEEN IN LINE WITH EXPECTATIONS AND IS CURRENTLY STABILISED AT APPROXIMATELY 12,500 BOPD WITHOUT ANY WATER CUT.Q3 NET RESULT $15.6 MILLION (REUTERS POLL $20.8 MILLION).NET PRODUCTION TO BW ENERGY PARTNERSHIP FOR Q3 WAS 111.5 THOUSAND BARRELS OF OIL.COMPANY HAS MADE INVESTMENT DECISION FOR TORTUE PHASE 2 FOLLOWING SUCCESSFUL APPRAISAL PROGRAM ON WESTERN FLANK OF TORTUE FIELD.PHASE 2 INCLUDES DRILLING OF FOUR ADDITIONAL HORIZONTAL DEVELOPMENT WELLS. ORDERS FOR LONG LEAD EQUIPMENT HAVE BEEN PLACED INCLUDING SUBSEA TREES, WELLHEADS, DRILLING CASING AND COMPLETION EQUIPMENT.COMPANY'S INTERNAL ESTIMATE OF 2P GROSS RESERVES FOR TORTUE FIELD PHASE 1 (2 WELLS) AND PHASE 2 (4 WELLS) IS CURRENTLY BETWEEN 30 TO 40 MILLION BARRELS OF OIL EQUIVALENTS, EXCLUDING CONTINGENT RESERVES.EXPECTS INCREASED FOCUS ON INCREMENTAL INVESTMENTS TIED TO EXISTING INFRASTRUCTURE, WITH GREEN-FIELD INVESTMENTS FOLLOWING LATER IN THE CYCLE.THE COMPANY IS CURRENTLY EVALUATING SEVERAL PROSPECTS FOR FIELD DEVELOPMENT, INCLUDING FPSOS.  Full Article

BW Offshore, Panoro Energy start Gabon oil production
Monday, 17 Sep 2018 

Sept 17 (Reuters) - BW Offshore Ltd ::FIRST OIL PRODUCED BY BW ADOLO FPSO.FIRST OIL FROM BW ADOLO FPSO WAS SAFELY ACHIEVED ON 16 SEPTEMBER 2018, 18 MONTHS AFTER INITIAL INVESTMENT WAS MADE IN DUSSAFU LICENSE OFFSHORE GABON.ACHIEVED FIRST OIL FROM DUSSAFU LICENSE WITHIN BUDGET AND ON SCHEDULE.FIRST PRIORITY NOW IS TO COMPLETE START-UP ACTIVITIES AND STABILISE PRODUCTION ON BW ADOLO.WE WILL AT SAME TIME WORK TOWARDS FINAL INVESTMENT DECISION ON TORTUE PHASE 2.PANORO ENERGY IS A PARTNER IN THE FIELD.  Full Article

BW Offshore Announces That FPSO BW Catcher Has Successfully Completed A 168-Hour Performance Test
Thursday, 12 Jul 2018 

July 12 (Reuters) - BW Offshore Ltd ::BW OFFSHORE IS PLEASED TO ANNOUNCE THAT FPSO BW CATCHER HAS SUCCESSFULLY COMPLETED A 168-HOUR PERFORMANCE TEST. FINAL ACCEPTANCE CERTIFICATE IS EXPECTED TO BE RECEIVED AFTER REVIEW BY CATCHER JOINT VENTURE PARTNERS..FPSO IS OPERATING ON A FULL DAY RATE SINCE START OF Q3. ONE-OFF IMPACT FROM START-UP ACTIVITIES ON FINANCIAL RESULT IN Q2 OF 2018 IS EXPECTED TO BE WITHIN PREVIOUS GUIDING..  Full Article

BW Offshore, Panoro complete second Gabon production well
Tuesday, 26 Jun 2018 

June 26 (Reuters) - BW Offshore Ltd and Panoro said on Tuesday::SUCCESSFUL DRILLING AND COMPLETION OF SECOND PRODUCTION WELL, DTM-3H, LOCATED IN TORTUE FIELD, WITHIN DUSSAFU MARIN LICENSE, OFFSHORE GABON.INTERPRETATION OF LOGGING RESULTS INDICATES THAT WELL WAS ENTIRELY CONSISTENT WITH PRE-DRILL PROGNOSIS AND OBJECTIVES.WELL WAS DRILLED TO A TOTAL MEASURED DEPTH OF 3563 METERS.FOLLOWING DEMOBILISATION AT DTM-3H WELL, BORR NORVE DRILLING RIG WILL COMMENCE OPERATIONS ON RUCHE NORTH EAST APPRAISAL WELL ON RUCHE FIELD.  Full Article

BW Offshore plans additional well at Dussafu offshore Gabon
Wednesday, 16 May 2018 

May 16 (Reuters) - BW Offshore Ltd ::BW OFFSHORE PLANS TO DRILL AN ADDITIONAL APPRAISAL WELL TO TEST ONE OF SEVERAL PROSPECTS THAT HAVE BEEN MAPPED IN THE RUCHE AREA, WITHIN THE DUSSAFU LICENCE, OFFSHORE GABON.DRILLING CAMPAIGN ON RUCHE NORTH EAST PROSPECT IS PLANNED TO COMMENCE MID-2018, FOLLOWING COMPLETION OF TWO PRODUCTION WELLS AND APPRAISAL WELL AT TORTUE FIELD.PARTNER IS PANORO ENERGY nFWN1SM1J8.  Full Article

Gabon oil workers' strike halts Vaalco terminal output - union

DAKAR, March 27 Production at a Gabonese petroleum terminal operated by VAALCO Energy Inc has been halted by a strike launched on Sunday over employees' annual leave, the oil workers' union said on Wednesday.