BW Energy: Completes acquisition of the FPSO Cidade de Vitoria
Completes acquisition of the FPSO Cidade de Vitoria
BW Energy has completed the acquisition of the FPSO Cidade de Vitoria from Saipem S.p.A. The FPSO is currently producing approximately 10,000 barrels per day of oil from the Golfinho field offshore Brazil, supported by the Company’s local operating organisation.
According to the agreement that was entered into in June 2022, BW Energy will pay Saipem a total of USD 73 million in fixed consideration for the FPSO, of which USD 38 million was paid in the third quarter 2023. A further USD 35 million will be paid in 18 monthly instalments following the takeover, with the first instalment already paid.
The FPSO Cidade de Vitoria is a flexible unit with 1.6 million barrels of storage capacity. The unit, which recently underwent repairs and upgrades, can produce more than 100,000 barrels per day of oil and has additional capacity for gas production and compression. It positions BW Energy to efficiently increase production from the Golfinho cluster with ample oil and gas handling capacity to accommodate the upside from planned future developments. The FPSO acquisition will enable BW Energy to reduce the whole field OPEX.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil equivalents at the start of 2023, when including the Golfinho Clusters.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Vicinity Showcased Industrial 5G Solution in 5G-ACIA Industrial 5G day6.12.2023 15:08:22 CET | Press release
TAIPEI, Taiwan, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Vicinity Technologies Limited (Vicinity) showcases the advanced industrial 5G solution in the 5G Alliance for Connected Industries and Automation (5G-ACIA) Industrial 5G Day 2023, being held in Taipei, Taiwan on 7th December 2023. Vicinity is demonstrating a low latency industrial 5G wireless networking solution to enable industrial safety applications in factories with 5G connected Automatic Guided Vehicles (AGV). Vicinity developed 5G integrated small cell (ISC) network wirelessly connects an emergency stop controller with the AGVs. The demonstration emulates an emergency scenario where the stop button is activated. The AGVs are stopped with the latency within 3ms. The response time is 200 times faster compared with the conventional 5G mobile networks. To achieve such a fast response time, the ISC supports the User Plane Function (UPF) offloading. This allows the user application running on the ISC to minimise the latency. The ISC is
International Directional Services and Veracio Announce Strategic Partnership to Advance Drilling and Downhole Technologies in North America6.12.2023 15:00:00 CET | Press release
WATSONVILLE, Calif. and SALT LAKE CITY, Dec. 06, 2023 (GLOBE NEWSWIRE) -- International Directional Services (IDS), a Granite Company (NYSE:GVA) and Veracio, a leading mining technology company, today announce a partnership to offer Veracio’s complete suite of driller-operated tooling to IDS’ clients. Veracio is making significant steps toward leveraging advanced geological technologies to enhance the mining lifecycle. While IDS and Veracio have an existing relationship, the announcement of this partnership acknowledges the vision both companies share for transforming how the drilling workflow can be enhanced with better data. By combining IDS’s expertise in directional drilling and Veracio’s geological data collection, the partnership will empower IDS and Granite clients to reduce unnecessary drilling costs, mitigate operational errors, minimize waste, and foster sustainable mining practices. “Our collaboration further strengthens Veracio’s position in the US market and reinforces our
Zoom delivers AI-powered customer experiences at an unmatched value for companies of every size6.12.2023 15:00:00 CET | Press release
New innovative product offerings include robust omnichannel and advanced AI solutions SAN JOSE, Calif., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Today Zoom Video Communications, Inc. (NASDAQ: ZM) announced enhancements across its AI-powered customer experience (CX) suite and new pricing plans that are expected to be available in the coming weeks. “Zoom Contact Center has seen incredible momentum since its launch last year, reaching more than 700 customers and expanding to businesses of all sizes, from mid-market companies to global enterprises,” said Vi Chau, head of product, Zoom Phone and Contact Center at Zoom. “We have strategically invested in areas like advanced AI, workforce management, and omnichannel expansion to help build meaningful customer experiences. These new plans provide exceptional value at all levels, including enterprise-grade features at the base tier that other companies charge extra for.” To support its growing customer base and its various business needs, Zoom Contact
HqO Continues to Disrupt the Commercial Real Estate Industry with the Launch of the “2024 Best Spaces to Work in Boston” Program6.12.2023 15:00:00 CET | Press release
The company will recognize the spaces with the best end-user experiences across metro areas BOSTON, Dec. 06, 2023 (GLOBE NEWSWIRE) -- HqO, the world’s leading real estate experience platform, today announced the launch of “2024 Best Spaces to Work in Boston,” the only recognition and certification program that scores and validates end-user real estate experiences in spaces across the city. Published quarterly, the list will be based on real estate experience data from tenants and their employees gathered through HqO’s proprietary Intelligence suite of products leveraging the world’s most powerful and trusted employee experience assessment framework. This news comes on the heels of HqO’s recent $50 million Series D funding announcement and launch of their Real Estate Experience (REX) Platform, as they continue to partner with industry leaders to solve unprecedented tenant and employee retention and attraction challenges. “For the first time in the history of the commercial real estate i
Company Announcement 5/20236.12.2023 14:51:46 CET | Press release
NOTICE TO CONVENE an extraordinary general meeting of Nordic Shipholding A/S in liquidation Nordic Shipholding A/S in liquidation (CVR no. 76 35 17 16) (the “Company”) hereby convenes an extraordinary general meeting to be held on Thursday 28 December 2023, at 09.00 (CET) Gorrissen Federspiel, Axel Towers, Axeltorv 2, DK-1609 Copenhagen V Agenda: 1. Presentation of the liquidator’s report 2. Presentation of the final and audited liquidation accounts for adoption 3. Resolution on liquidation of the Company with final effect 4. Any other business Complete proposals Item 1 – Presentation of the liquidator’s report Item 2 – Presentation of the final and audited liquidation accounts for adoption The liquidator proposes to the general meeting to adopt the final and audited liquidation accounts. There will be no distribution of liquidation proceeds to the shareholders of the Company in connection with the liquidation. The final and audited liquidation accounts is available for review on the C