BW Offshore Limited announced the transfer, effective from 20 May 2025, of the operation and maintenance of the FPSO BW Adolo to its subsidiary BW Energy Gabon SA. This move is part of an operational restructuring aimed at delegating daily management to a local entity of the group, without altering the financial terms of the existing lease agreement.
Under the amended bareboat charter, BW Offshore retains full ownership of the vessel through its dedicated subsidiary. The unit remains leased to BW Energy Gabon on previously agreed terms, excluding the operation and maintenance services formerly provided by BW Offshore. The revised charter includes a mutual put-and-call option on the vessel valued at $100 million, exercisable in 2028.
Transition secured through end of June
The transition to BW Energy Gabon will continue until 30 June 2025 to ensure uninterrupted operations. Both companies are working closely to ensure a safe and compliant handover, aligned with the technical and operational requirements of the Dussafu field, where the FPSO has been deployed since 2018.
The BW Adolo vessel operates under the offshore Dussafu Marin licence, located off the coast of Gabon. Since first oil in 2018, it has been maintained in stable operating condition by joint teams from both companies. The change in operator aims to enable BW Energy Gabon to further optimise field performance and streamline local operations.
Local synergies and technical oversight
BW Energy Gabon’s assumption of full operational responsibility for the FPSO is expected, according to official statements, to reinforce regional synergies. “Transferring operational control of the BW Adolo to BW Energy Gabon is a logical step given their growing presence in Gabon,” said Marco Beenen, Chief Executive Officer of BW Offshore.
Carl K. Arnet, Chief Executive Officer of BW Energy, acknowledged the prior management of the vessel: “Assuming full operational responsibility will allow us to optimise field performance. We thank BW Offshore for its exemplary stewardship of the vessel and its support during the transition phase.”
The BW Adolo platform is expected to continue offshore production operations without major changes to its technical configuration, under the direct supervision of BW Energy Gabon once the agreed transition period concludes.
