BW Offshore awarded LoI for FPSO installation offshore Brazil

(Bermuda, 31 July 2008) BW Offshore has been awarded a Letter of Intent (LoI) with Maersk Contractors for the installation of the Peregrino FPSO Mooring System and STP Buoy offshore Brazil. BW Offshore will now deliver the production buoy, the mooring systems and the complete installation of the FPSO Mooring System and STP Buoy.
 
BW Offshore has been awarded a Letter of Intent (LoI) with Maersk Contractors for the installation of the submerged turret production (STP) and mooring system for the Peregrino FPSO offshore Brazil. The complete STP Buoy, including swivel stack, and mooring system are also being delivered by BW Offshore, through BW Offshore's subsidiary APL (Advanced Production and Loading).
 
We are very pleased with the confidence that Maersk has put in us on this important project, as we will now both deliver and install the buoy system for the Peregrino FPSO. The project confirms our strategy of being able to deliver turnkey solutions to oil companies and contractors. It will also further increase our activities in Brazil, says Svein Moxnes Harfjeld, CEO of BW Offshore.
 
The installation will be completed without divers, as in-house developed subsea diverless mooring connectors will be used,
 
The Peregrino installation contract is the fifth in-house campaign for BW Offshore Installation Services since the launch of the business last summer. The company also has a long track record and solid installation experience through several BW Offshore and APL installation campaigns.
 
  
 
For further information, please contact:
Svein Moxnes Harfjeld, CEO BW Offshore, +47 4140 4886
Knut R. Sæthre, CFO BW Offshore, +47 9111 7876
 
 
BW Offshore is one of the world's leading FPSO contractors and a market leader within advanced offshore loading and production systems to the oil and gas industry. BW Offshore has 25 years' experience and has successfully delivered 12 FPSO projects and 42 turrets and offshore terminals. BW Offshore's technology division APL has delivered solutions for production vessels, storage vessels and tankers in a wide range of field developments. Adapting through competence, in-house technology, solid project execution and operational excellence, BW Offshore ensures that customer needs are met through versatile solutions for offshore oil and gas projects.  BW Offshore has as a global network with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore has 1,200 employees and is listed on the Oslo Stock Exchange. For more information, please visit www.bwoffshore.com and www.apl.no.