BW Energy continues its round of investments in the oil and gas sector in Brazilian fields and has acquired the FPSO Cidade de Vitória platform, from the company Saipem, for a total of US$ 73, focusing on the oil reserves of Campo de Golfinho.

For this Thursday, (30/06), the acquisition plan for new exploration platforms of fuels in Brazil by the company BW Energy continues at full steam. This is because the company has just acquired the Saipem platform, FPSO Cidade de Vitória, located in Campo de Golfinho, in the Espírito Santo Basin, for US$ 73 million, targeting the oil reserves that are available in the region. . 

FPSO Cidade de Vitória is acquired by BW Energy in a millionaire transaction with Saipem for oil exploration in Campo de Golfinho

Just a few days after purchasing the Golfinho and Camarupim Hubs, the energy and fuel company BW Energy announced a new acquisition, this time of the FPSO Cidade de Vitória platform, located in the Espírito Santos Basin. The vessel was purchased from the Italian company Saipem for a total value of US$ 73 million and BW intends to take advantage of the Golfinho Field to expand its oil production in the coming years. 

According to the transaction between BW Energy and Saipem, the expectation is that the completion of the operation and the final acquisition of FPSO Cidade de Vitória will take place in the first quarter of 2022, so that the start of oil exploration does not take too long. In addition, the millionaire value of the transaction will be paid in installments, with US$ 25 million paid at closing, US$ 13 million in the acquisition of the FPSO and another US$ 35 million to be paid in 18 monthly installments after the acquisition.

Thus, BW Energy commented on the importance of the acquisition and said that “The transaction will accelerate the creation of a local operating system by BW Energy in Brazil and increase stakeholder engagement prior to the development of Maromba. BW Energy maintains its potential to efficiently increase production from the Golfinho cluster with sufficient oil and gas handling capacity to accommodate the reverse of planned future developments. The FPSO acquisition will help BW Energy reduce the entire OPEX sector.”

Acquisition of FPSO Cidade de Vitória will guarantee new directions in oil exploration in Campo de Golfinho for the company BW Energy

BW Energy's interest in FPSO Cidade de Vitória is due to oil exploration in the Golfinho Field reserves, since the vessel has a strong ability of storage, managing to hold 1,6 million barrels and being able to produce more than 100 thousand barrels per day of oil. In this way, the acquisition of the platform will guarantee even more efficiency in the exploration of this fuel over the next few years in the Brazilian fields. 

In addition, Campo de Golfinho has six wells for oil production, two for gas production and two for water injection, which are connected to FPSO Cidade de Vitória, providing new opportunities for future agreements and expansions in the segment. The field located off the coast of the state of Espírito Santo, in southeastern Brazil, still produced an average of 8.600 barrels of oil and 90.000 cubic meters of gas per day this year, ensuring good results in the fuel scenario. 

BW Energy is a growth-focused oil and gas company engaged in the acquisition, development and production of proven oil and natural gas fields and currently has a portfolio of developments in the world's major oil and gas regions, present in the continents of Africa, Americas, Asia and Europe and with an eye to expansion in the sector.