BW Offshore

BW Offshore

Type	Public
Traded as	OSE: BWO
Industry	Petroleum
Founded	1982
Headquarters	Singapore and Oslo, Norway
Area served	Global
Key people	Carl K. Arnet (CEO)
Products	FPSO
Revenue	USD 982.4 million (2013)
Operating income	USD 181.4 million (2013)
Total assets	USD $3.4 billion (2013)
Number of employees	2,200
Website	www.bwoffshore.com

BW Offshore is a global owner and operator of Floating Production Storage and Offloading (FPSO). The company is listed on Oslo Stock Exchange. The company has its headquarters in Singapore and Oslo, Norway but operates internationally. The largest owner is BW Group Limited with 49,3% of the shares.

The company operates vessels in Brazil, Mexico, United States, United Kingdom, Russia, Mauritania, Ivory Coast, Nigeria, Gabon, New Zealand, and Indonesia with a total of 14 FPSOs and 1 FSO.

History

BW Offshore originates from the shipping company Bergesen d.y. ASAwho delivered its first FSO Berge Sisar in 1982 which it installed and operated at the Block O field offshore Angola. In 2003 Bergesen was acquired by World-Wide Shipping and was 2005 renamed Bergesen Worldwide. In the same year the floating production part of the company was established as a separate company, Bergesen Worldwide Offshore. In 2006 the company was rebranded BW Offshore and listed on the Oslo Stock Exchange.

In 2007, BW Offshore acquired the ownership of Advanced Production and Loading (APL), making the company its technology division. APL which is based in Arendal, Norway and is a specialist in the engineering and supply of offloading and transfer systems for ships and terminals. It has delivered loading equipment for production vessels, storage vessels and shuttle tankers in the North Sea, Africa, Asia, Oceania, Russia, Latin-America, and the USA. In 2006, APL ventured into FPSO contracting by establishing Nexus Floating Production that consequently also became controlled by BW Offshore. In 2010, BW Offshore sold APL to National Oilwell Varco.

In 2010, BW Offshore Limited completed the acquisition of remaining 76.12% stake in Prosafe Production Public Ltd. Prior to the transaction, BW Offshore Limited owned 23.88% and hence, completed the 100% acquisition of Prosafe Production.

Presence and Units

As of December 31, 2013, BW Offshore owned a fleet of 14 FPSOs, 1 FSO and 1 FPSO conversion candidate (Blue Opal). It also operates 2 FPSOs owned by oil companies.

In May 2014, BW Offshore was selected by Premier Oil to execute the engineering, procurement, construction, installation and operation of a new built FPSO for its Catcher field in the UK North Sea.

Fleet

FPSO Vessel Name	Oilfield	Location	Operator	Contract Duration	Water depth (m)
Azurite		Congo	Prosafe	2009 -
BW Pioneer	Cascade & Chinook	Gulf of Mexico	Petrobras America	2012 - 2017	2600
YÙUM K'AK'NÀAB	Ku-Maloob-Zaap	Mexico	Pemex	2007 - 2022	90
Berge Helene	Chinguetti	Mauritania	Petronas	2006 - 2015	850
Sendje Berge	Okwori	Nigeria	Sinopec	2005 - 2013	140
Abo	Abo	Nigeria	ENI	2003 - 2013	800
Espor Ivorien	Espoir	Ivory Coast	CNR	2002 - 2017	118
Petroleo Nautipa	Etame	Gabon	Vaalco	2002 - 2020	80
BW Cidade de São Vicente	Lula South	Brazil	Petrobras	2009 - 2019	2140
Cidade de São Mateus	Camarupim	Brazil	Petrobras	2009 - 2018	763
Polvo	Polvo	Brazil	HRT	2007 - 2014	85
Peregrino (Operations)	Peregrino	Brazil	Statoil	2013 - 2016	120
P-63 (Operations)	Papa Terra	Brazil	Petrobras	2013 - 2018	1150
Belokamenka	Murmansk	Russia	Rosneft Oil Company	2004 - 2019	30
BW Athena	Athena	UK	Ithaca Energy	2012 - 2020	130
BW Joko Tole	Terang Sirasun Batur (TSB)	Indonesia	Kangean Energy	2012 - 2022	100
Umuroa	TUI	New Zealand	AWE	2007 - 2015	120
Blue Opal	Available		n/a

External links

• Mega-Tanker Makeover, a documentary about the conversion of the Pioneer
• BW Offshore on linkedin.com