Energy Business Review
Exploration and Development
Anonymous User | Login

BW Offshore Updates On Agreement For FPSO Nexus 1 Offshore Vietnam

Published: 28-Apr-2009

By: Staff Writer Staff Writer Staff Writer

BW Offshore Limited (BW Offshore), a provider of offshore loading and production systems to the oil and gas industry, said that a reference is made to the notice of April 7, 2009, where Premier Oil plc with partners and BW Offshore have signed a letter of understanding (LoU) for the charter of the FPSO Nexus 1 offshore Vietnam. The LoU is conditional upon a substantial financial restructuring of Nexus Floating Production.

Nexus Floating Production has in a separate notice today reported that their Board of Directors is working on a restructuring plan. The plan is subject to approval by the various stakeholders. BW Offshore will, subject to financing and approval by the board of directors of BW Offshore, underwrite a potential private placement in Nexus Floating Production of $104 million.

BW Offshore has the intention to enter into an agreement with Nexus Floating Production related to the field specific upgrade and operation of the Nexus FPSO 1.

The agreement has a potential contract value of $160 million to cover field specific investments. BW Offshore will also be compensated for the operation of the FPSO.

Share

Mail sent successfully

Tell your friend about this article


Please enter a valid email address

Please enter your name

Please enter the mail body


Your Name: *
Your Email: *
Friend's Email: *
Email Body: *
 

Suppliers To This Sector

Browse A-Z

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Welaptega Marine

Subsea Inspection Technologies ...

Watson, Farley & Williams

International Law Firm ...

Van Oord Offshore

Transportation and Storage of Oil and Gas ...

CEPMLP

Centre for Energy, Petroleum & Mineral Law & Policy ...

Energy Institute

Chartered Professional Membership Body for Energy Industries ...

Thales

Integrated Security, Safety, Communications and Control Solutions ...

White Papers

Browse A-Z

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Yokogawa Matures a Best Practice Culture for Successful Project Execution

Yokogawa is a world leader in the supply of control and instrumentation systems to process ...

Lubrication Basics for Wire Ropes

Wire rope forms an important part of many machines and structures. It is comprised of cont ...

Wind Power Cable Entry Solutions

With the Roxtec sealing system for cables and pipes, the wind power industry has a standar ...

Technical Due Diligence of the Waarpolder Wind Farm

Case study: Through Document Reviews and Technical Due Diligence services, SGS helped eval ...

Valves for the Solar Industry

The solar industry has impressed us with a breathtaking annual growth rate of 40% over the ...

Improving Customer Care for Utilities

Fierce competition and changing regulations: A challenge or an opportunity? To find out mo ...

Related Companies

Centrica plc

Centrica plc (Centrica), an integrated energy company is a supplier of energy and relat ...

Apache Corporation

Apache Corporation (Apache) is an independent energy company. Apache is engaged in the ...

Afren plc

Afren plc (Afren) is an independent energy company. It is engaged in the exploration, d ...

Eni S.p.A.

Eni S.p.A. (Eni) is an integrated energy company. It is engaged in the exploration, pro ...

Premier Oil plc

Premier Oil plc is an independent energy company. It is engaged in the exploration and ...

Suppliers Product News

Welaptega Awarded Certification by DNV and Lloyds

Welaptega Marine is pleased to announce is has received certification from the international risk management bodies Lloyds Register and Det Norske Veritas (DNV).

Welaptega Saves MODU Client Millions with Pioneering Inspection Technique

Welaptega Marine has saved a Gulf of Mexico-based offshore driller millions of dollars through a pioneering technology to recertify mooring systems on semi-submersible drill rigs (MODUs) while they are on station.

Welaptega Pioneers 3D Application for FlexJoint® Inspections

Welaptega Marine has pioneered a 3D-modelling technique for inspecting FlexJoint® components used on floating production systems.

Watson, Farley & Williams Advises DONG Energy and Siemens on Their Equity Stake Investment in Lincs Offshore Wind Farm

Watson, Farley & Williams, a leading international law firm, has advised DONG Energy and Siemens Project Ventures ("SPV") on their acquisition of a 50% equity stake in the 270MW Lincs offshore wind farm project from Centrica PLC.

Watson, Farley & Williams Advises DONG Energy on the Sale of its Minority Stake in Walney Offshore Wind Farm

Watson, Farley & Williams has advised DONG Energy on its sale to Scottish and Southern Energy ("SSE") of a 25.1% equity stake in the 376MW Walney offshore wind farm which is being built 14km west of the Isle of Walney. DONG Energy will retain a 74.9% stake.

Watson, Farley & Williams Opens a New Office in Madrid

Watson, Farley & Williams ("WFW"), a leading international law firm, is pleased to announce that it will be opening an office in Madrid, in response to an increasing demand from clients for access to Spain. This will be WFW's 12th office, and Spain is the firm's 9th jurisdiction.

Free Newsletter Sign-up

Sign up, and we will send you a free Energy Report on 'Energy Security Threats & Key Issues for Global Oil & Gas Industry' from GlobalData worth $750

Please enter a valid email address