(Bermuda, 10 May 2010): BW Offshore has received an authorization to proceed with the completion of the FPSO OSX-1. The FPSO is owned by OSX and will operate for OGX on the Waimea oil field in the Campos Basin offshore Brazil. The scope of work includes among others topside modifications and the delivery of a Submerged Turret Production (STP) system from APL, a division of BW Offshore.
The value of the total scope is expected to be USD 150 million.
For further information, please contact:
Carl K. Arnet, CEO BW Offshore, +65 9630 3290
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 more than 25 years' experience and has successfully delivered 14 FPSO projects and 50 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 a global network with offices in Europe, Asia Pacific, West Africa and the Americas. BW Offshore has 1,100 employees and is listed on the Oslo Stock Exchange. For more information, please visit www.bwoffshore.com and www.apl.no.