BW Offshore FPSO sold to Indonesian consortium

BW Offshore has entered into an agreement for the sale of the floating production storage and offloading unit (FPSO) BW Joko Tole to Bahari Inti Tanker and Cahaya Haluan Pasifik, both of which are Indonesian companies, in consortium with Buana Lintas Lautan, a company publicly listed in Indonesia.

The consortium will continue to operate the FPSO under the lease contract with Kangean Energy Indonesia.

BW Offshore said the transaction is part of its strategy to transition to floating energy infrastructure investments.

The transaction is subject to customary conditions precedent with closing expected late in the first quarter of 2022. BW Offshore will provide transition services for a period of up to four months after closing to ensure the safe and uninterrupted transfer of operations, including the local organisation operating the FPSO, to the new owners.