BW Energy has announced the acquisition of jackup rigs Atla and Balder from Borr Drilling for a total price of $14.5m.
The two rigs will be converted for use at BW Energy’s Dussafu asset offshore Gabon.
“A jack-up conversion will enable us to reduce capital investments by about $100m compared to our previous development plan,” said Carl Krogh Arnet, the CEO of BW Energy.
“We are benefitting from the availability of high-quality jack-up units at very attractive prices due to the current drilling market slump. By re-using facilities we will also achieve a substantial reduction in field development related CO2 emissions compared to a newbuild platform,” Arnet added.
The seismic reprocessing carried out by BW Energy has indicated the potential for a substantial increase to the Greater Hibiscus oil-in-place volumes, making further developments in the Hibiscus/Ruche area highly likely.
According to BW Energy, calculations show that redeployment and conversion projects offer 70%-80% reductions to greenhouse-gas emissions compared to new built assets due to reduced steel consumption and shorter yard stays.