BW Offshore awarded turret contract
(Bermuda, 17 December 2007) BW Offshore has been awarded a contract for delivery of production, mooring and offloading systems to the FPSO Nexus II.
BW Offshore's technology division APL has been awarded the contract for a complete fluid transfer system, including swivel, to Nexus Floating Production's FPSO Nexus II. The turret is disconnectable and designed to operate in harsh weather.
- This is our second turret contract with Nexus and we are very pleased with the commitment the company once again has put in us. We are among the leading FPSO contractors in the world, and the complexity of this contract confirms our leading position also as a technology provider to the oil and gas industry, says Svein Moxnes Harfjeld, CEO of BW Offshore.
The contract is for the large STP 5000 turret, including swivel and mooring lines, and also includes delivery of an SDS offloading system. BW Offshore will be responsible for the engineering, procurement and construction of the systems, scheduled for delivery in 2010.
The contract value is approximately USD 80 million.
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 is headquartered in Norway, and has a global network with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore has 1,000 employees and is listed on the Oslo Stock Exchange. For more information, please visit www.bwoffshore.com and www.apl.no.