Lease & Operate

Lease & Operate

Life time maintenance and support

Leasing the production asset from BW Offshore has allowed clients to focus on their core competence areas of developing and managing reservoirs. The lease approach also reduces the investment and the financial exposure for clients related to major production assets.

30 years track record 

With more than 30 years track record, BW Offshore has completed 40 FPSO and FSO conversions resulting in a strong conversion competence developed over time. In addition, BW Offshore has the unique privilege of having operated these units. Both these factors ensure a robust foundation for future projects. In its valuable position of being experienced in all phases from design engineering through to long-term operations, BW Offshore has a unique competitive advantage when it comes to providing clients with an efficient total life cycle cost.

LIFETIME MAINTENANCE AND SUPPORT

BW Offshore takes full responsibility to operate and maintain as well as upgrade or change the production asset as needed by the client in a lease arrangement. This ensures that production requirements are met for the total duration of the field life including necessary funding, ensuring appropriate competencies, as well as know-how of production equipment. 

COORDINATED MANAGEMENT

The contract between the oil company or the operator and BW Offshore regulates numerous operational and financial obligations including production and processing performance. Leases are structured to ensure that unit ownership and other details comply with local law and tax regulations in the country of operation. BW Offshore offers significant support in the form of management resources and staff to execute, arrange and manage the ownership and operation of the FPSO. BW Offshore serves as a single point of contact behind the scenes for various parties and processes while offering field partners a transparent day rate. 

Funding based on contracts with clients

BW Offshore has a strong relationship with a large number of international banks and close contact with the equity market through the Oslo Børs listing. This enables the structuring of financial packages, enhanced by lease contracts with reputable clients. BW Offshore has also successfully created funding alternatives through the bond market, in addition to interest from equity partners on individual projects. BW Offshore has been in a position to operate units effectively thanks to its global footprint and extensive market access. It has been our experience that for the right project with the right client, funding can be accessed.