BW Energy acquires jackup pair for Gabon field

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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