BW Offshore Gets One-year Contract Extension for FPSO BW Joko Tole

OEDigital
Wednesday, March 2, 2022

Oslo-listed FPSO leasing firm BW Offshore said Wednesday it had received a one-year contract extension for the lease and
operation of the FPSO BW Joko Tole. 

BW Joko Tole is a gas-producing FPSO operating on the TSB field offshore Indonesia for Kangean Energy Indonesia.

To remind, the company in January said it had agreed to sell the FPSO to PT Bahari Inti Tanker and PT Cahaya Haluan Pasifik, both of which are Indonesian companies, in consortium with PT Buana Lintas Lautan Tbk, a company publicly listed in Indonesia, with the transaction expected to close late in the first quarter of 2022.

"The sale will free up over USD 50 million of liquidity on closing. BW Offshore will provide transition services for a period of up to four months after closing to ensure safe and uninterrupted transfer of operations including the local organization operating the FPSO to the new buyer," BW Offshore said.

BW Offshore said in January that the buyer would continue to operate the FPSO under the lease contract with Kangean Energy Indonesia, BW Offshore said.


Categories: Offshore Energy Industry News Activity FPSO Asia Floating Production

Related Stories

MDL Secures Cable Laying Job in Asia Pacific

Brownfield Output Decline Accelerates, says IEA

DOF Secures Moorings Hook-Up Job in Asia Pacific

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

China Starts Production at Major Oil Field in Bohai Sea

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Current News

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Petronas to Leverage AI to Expedite Oil and Gas Exploration Activities

Brownfield Output Decline Accelerates, says IEA

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

Hanwha Ocean Enlists ABB for Singapore’s First Floating LNG Terminal

Aquaterra Energy Nets Subsea Analysis Contracts with INPEX off Indonesia

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com