First Gas achieved on the BW Opal FPSO
BW Offshore is proud to announce that the BW Opal FPSO has achieved First Gas on
20 September, after successfully reaching Ready for Start-Up (RFSU) for the
Santos operated Barossa LNG project on 16 September, initiating 60% of the
contractual dayrate under the charter.
First Gas represents a critical juncture in the formal transition from project
to operations phase and demonstrates BW Opal's readiness to deliver stable
energy production.
The next milestone, Interim Performance Test (IPT), will increase the payable
dayrate to 85%. The final milestone, Practical Completion (PC), will conclude
the delivery phase, trigger 100% of the dayrate, and mark the commencement of
the 15-year firm contract period, securing long-term revenues for the Company
under the charter agreement.
"Reaching First Gas on BW Opal is a tremendous achievement and a testament to
the hard work, dedication, and collaboration of our teams, contractors, and
partners," said Marco Beenen, CEO of BW Offshore. "It demonstrates our
commitment to delivering complex projects safely and efficiently, while
supporting energy security and value creation for our stakeholders."
The BW Opal FPSO, designed to process 850 million standard cubic feet per day
(MMSCFD) of gas and capacity of 11,000 barrels per day of stabilised condensate,
will operate in the Santos operated Barossa gas field, located 285 kilometres
offshore Darwin in the Northern Territory of Australia. The FPSO will play a
central role in unlocking the resource potential of the Barossa field for years
to come.
For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55
IR@bwoffshore.com or www.bwoffshore.com (http://www.bwoffshore.com)
About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has
a fleet of FPSOs with potential and ambition to grow. By leveraging four decades
of offshore operations and project execution, the Company creates tailored
offshore energy solutions for evolving markets world-wide. BW Offshore has
around 1,000 employees and is publicly listed on the Oslo stock exchange.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act