BW Offshore has signed a Front-End Engineering and Design (FEED) agreement with Equinor for the Bay du Nord development offshore Newfoundland and Labrador, Canada.
The FEED agreement formalises the next phase of the project following BW Offshore’s selection as preferred FPSO bidder and represents continued progress towards a potential final investment decision in 2027.
The FEED phase is expected to run through the end of 2026 and will be used to mature the FPSO design, finalising the project execution plan and delivery schedule, progressing commercial and contractual alignment, including selection of major subcontractors and vendors towards a firm offer to Equinor. A local content plan will also be developed in line with the Frame Agreement and the Atlantic Accord.
BW Offshore has established a local office in St. John’s, Newfoundland and Labrador, and has hired a Local Benefits Manager to support close collaboration with Equinor, local authorities and the regional supply chain throughout the FEED phase and into execution. An official opening is planned for early June.
'Signing the FEED agreement is a significant step for the Bay du Nord project. BW Offshore is very excited and fully committed to the Bay du Nord development to progress the project in close cooperation with Equinor and local stakeholders', said Marco Beenen, CEO of BW Offshore.
Source: BW Offshore
