Reference is made to the announcement dated 12 March 2025, in which BW Offshore announced its agreement to sell the FPSO BW Pioneer for USD 125 million to a subsidiary of Murphy Oil Corporation.
Following the close of the transaction, BW Offshore has received the initial payment of USD 100 million. The remaining balance is expected before end of Q2 2025 when certain contractual obligations are met. The two parties have also signed a five-year reimbursable O&M contract, under which BW Offshore will continue to provide operations and maintenance services.
Source: BW Offshore
