The partnership between Saipem and BW Energy reinforces their intention to maximize energy potential and drive economic growth. The schedule for the sale of the FPSO platform in the Espírito Santo Basin will be maintained.

Saipem, an Italian engineering and construction company, maintains this Thursday, (31/08), its commitment to sell an FPSO in the Espírito Santo Basin, Brazil, in collaboration with BW Energy. Although the acquisition has faced delays, the partnership aims to ensure the transfer of the FPSO to BW Energy by the end of 2023. The transaction involves a payment of US$ 73 million, marking a strategic step in the exploration of resources from Oil and Gas in the region.

Companies reinforce partnership for sale of FPSO platform in Brazil

Italian engineering, drilling and construction services company Saipem has officially announced that it is committed to the planned schedule to close the divestment process related to an FPSO currently operating in the Espírito Santo Basin, off the Brazilian coast. Collaboration with BW Energy has been instrumental in this endeavor.

In a strategic move, Saipem is working together with BW Energy to complete the sale of the FPSO, with a view to optimizing the exploitation of resources in the Espírito Santo Basin.

This partnership aims at a smooth and efficient transition, ensuring the continuity of operations while the divestment progresses.

Against the background of recent developments, BW Energy finalized the acquisition of the Golfinho and Camarupim clusters, a crucial step that lays the foundation for the completion of the FPSO acquisition from Saipem.

These acquisitions give BW Energy greater control over oil and gas producing assets, allowing it to diversify opportunities and maximize long-term potential.

Initially scheduled for the first quarter of 2023, completion of the FPSO acquisition has been delayed due to unforeseen circumstances.

However, both parties are committed to ensuring that the schedule is adhered to.

Saipem plans to transfer ownership and operation of the FPSO to BW Energy by the fourth quarter of 2023.

In this way, the partnership between the companies continues with the same commitment signed at the beginning by both parties.

Sale of FPSO platform involves transaction of US$ 73 million from BW Energy to Saipem

The FPSO platform transaction in the Espírito Santo Basin involves the payment of US$ 73 million from BW Energy to Saipem.

This amount will be divided into installments corresponding to different stages of the process, including the closing of the Golfinho transaction and subsequent monthly payments.

The financial structure established between the companies reflects the mutual trust in the projections of benefits and profitability resulting from this strategic collaboration.

The Espírito Santo Basin represents a promising region for the exploration of oil and gas resources.

With the combination of Saipem's capabilities and BW Energy's expertise, the region is positioned to unlock its full potential, ensuring continuous energy supply and contributing to regional and national economic growth.

The collaboration between Saipem and BW Energy on the FPSO project in the Espírito Santo Basin reinforces both companies' determination to face the challenges of today's energy market.

By overcoming delays and difficulties, they are paving the way for an even more productive future in offshore oil and gas exploration, consolidating strategic partnerships and driving industrial growth.