BW Offshore transfers operation of FPSO BW Adolo to its Gabonese subsidiary

BW Offshore has handed over the operations of the FPSO BW Adolo to BW Energy Gabon while retaining ownership and the vessel lease under previously agreed terms.

Share:

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.

Pacific Petroleum and VCP Operating finalise the $9.65mn acquisition of oil assets in Wyoming, backed by a consortium of Japanese institutional investors and a technology innovation programme focused on real-world asset tokenisation.
Repsol's net profit fell to €603mn in the first half, impacted by oil market volatility and a massive power outage that disrupted its activities in Spain and Portugal.
A USD 1.1 billion refinery project in Ndola, signed with Fujian Xiang Xin Corporation, aims to meet Zambia's domestic demand and potentially support regional exports.
The Organization of the Petroleum Exporting Countries (OIES) confirmed its Brent price forecast at 69 USD/b in 2025 and 67 USD/b in 2026, while adjusting its 2025 surplus forecast to 280,000 barrels per day.
PermRock Royalty Trust has declared a monthly distribution of 395,288.31 USD, or 0.032491 USD per trust unit, payable on August 14, 2025, based on production revenues from May 2025.
Portuguese group Galp Energia announced an adjusted net profit of €373 million for Q2 2025, a 25% increase from the previous year, driven by higher hydrocarbon production in Brazil.
Kuwait Petroleum Corporation (KPC) adjusts its strategy by reducing its tenders while encouraging private sector participation to meet its long-term objectives by 2040, particularly in the petrochemical industry.
Xcel Energy plans to add over 5,000 MW of generation capacity by 2030, including solar, wind, and storage projects, to support the growing energy demand in its service areas.
Following the imposition of European Union sanctions, Nayara Energy adjusted its payment terms for a naphtha tender, now requiring advance payment or a letter of credit from potential buyers.
US Senator Lindsey Graham announced that President Donald Trump plans to impose 100% tariffs on countries purchasing Russian oil, including China, India, and Brazil.
Russian oil group Rosneft rejects EU sanctions targeting Nayara Energy, in which it holds a 49.13% stake, citing a breach of international law and a threat to India’s energy security.
Chevron finalised the acquisition of Hess for nearly $60bn, after winning an arbitration case against ExxonMobil over pre-emption rights in Guyana.
The Anglo-Dutch company maintains its oil and gas operations on the African continent, betting on offshore exploration and the reactivation of onshore fields, while the institutional and regulatory context remains uncertain.
The expansion of the global oil and gas fishing market is accelerating on the back of offshore projects, with annual growth estimated at 5.7% according to The Insight Partners.
The Competition Bureau has required Schlumberger to divest major assets to finalise the acquisition of ChampionX, thereby reducing the risks of market concentration in Canada’s oilfield services sector. —
Saturn Oil & Gas Inc. confirms the acquisition of 1,608,182 common shares for a total amount of USD3.46mn, as part of its public buyback offer in Canada, resulting in a reduction of its free float.
OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.
Talks between European Union member states stall on the adoption of the eighteenth sanctions package targeting Russian oil, due to ongoing disagreements over the proposed price ceiling.
Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.
An explosion at 07:00 at an HKN Energy facility forced ShaMaran Petroleum to shut the Sarsang field while an inquiry determines damage and the impact on regional exports.