BW Energy Acquires FPSO Cidade de Vitória from Saipem for US$ 73 Million for Oil Exploration in Golfinho Field

BW Energy Continues Its Investment Round in the Oil and Gas Sector in Brazilian Fields and Acquired the FPSO Cidade de Vitória from Saipem for a Total of US$ 73 Million, Focusing on the Oil Reserves of the Golfinho Field.

For this Thursday, (06/30), the plan to acquire new exploration platforms for fuels in Brazil by BW Energy is in full swing. This is because the company has just acquired the FPSO Cidade de Vitória from Saipem, located in the Golfinho Field in the Espírito Santo Basin, for a total of US$ 73 million, aiming at the oil reserves available in the region.

FPSO Cidade de Vitória Acquired by BW Energy in a Million-Dollar Transaction with Saipem for Oil Exploration in the Golfinho Field

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

According to the transaction between BW Energy and Saipem, the completion of the operation and final acquisition of the FPSO Cidade de Vitória is expected to take place in the first quarter of 2022, so that the start of oil exploration will not be delayed. Furthermore, the million-dollar transaction amount will be paid in installments, with US$ 25 million paid at closing, US$ 13 million upon acquisition of the FPSO, and an additional US$ 35 million to be paid in 18 monthly installments following the acquisition.

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

Acquisition of FPSO Cidade de Vitória Will Ensure New Directions in Oil Exploration in the Golfinho Field for BW Energy

BW Energy’s interest in the FPSO Cidade de Vitória stems from the oil exploration in the reserves of the Golfinho Field, as the vessel has a strong storage capacity, capable of holding 1.6 million barrels and producing over 100,000 barrels of oil per day. Thus, the acquisition of the platform will ensure even greater efficiency in the exploration of this fuel over the coming years in Brazilian fields.

Additionally, the Golfinho Field has six wells for oil production, two for gas production, and two for water injection, which are linked to the FPSO Cidade de Vitória, providing new opportunities for future deals and expansions in the segment. The field located off the coast of the state of Espírito Santo in southeastern Brazil has also 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 an oil and gas company focused on growth, involved in the acquisition, development, and production of proven oil and natural gas fields, and currently has a portfolio of projects in major oil and gas regions worldwide, present in Africa, the Americas, Asia, and Europe, with an eye on sector expansion.