BW Offshore has closed on a deal to sell one of the three floating storage, production and offloading units it has been in negotiations to offload.
The Oslo-listed company said it completed the sale of the 45,000-barrel-per-day (bpd) Espoir Ivoirien (built 1975) for $20m.
“Following the transaction, BW Offshore will provide transitional O&M [operation and maintenance] services for a period of up to five months,” it added.
The buyer was not named, but BW Offshore had in the past said it was in discussions with charterer CNR International.
The vessel had been working at the Espoir field in Ivory Coast.
The Espoir Ivoirien sale is the third ship BW Offshore has sold in recent weeks.
The other two sales — involving the 28,000-bpd BW Athena (built 1994) and 35,000-bpd BW Opportunity (built 1989) — freed up $130m in liquidity.
In total, the three ships were sold for $150m, with the BW Athena moved for $5m and the BW Opportunity for $125m.
In its first-quarter report, BW Offshore said it intended to sell the 44,000-bpd Abo FPSO (built 1976) and 50,000-bpd Sendje Berge (built 1974) as well, and that discussions were continuing.
A fourth ship, the 20,000-bpd Petroleo Nautipa (built 1975), is set for recycling this year.
In total, BW Offshore intends to dispose of seven vessels, leaving it with four.
