Oslo-listed BW Offshore has completed its non-core fleet disposal program with the sale of Abo, a floating production storage and offloading (FPSO) unit operating offshore Nigeria.
STAC Marine Offshore, a member of the Nigerian Transport Group (STAC), purchased the ship, converted from a 1976-built aframax tanker, for $20 million.
The FPSO had been operating at the Abo field for Eni subsidiary Nigerian Agip Exploration since it began production in 2003, about 40 km off the Nigerian coast at the western tip of the Niger Delta. While sales negotiations were ongoing, many short-term contract extensions were signed for the unit.
As part of the agreement, BW Offshore signed a bareboat charter agreement with STAC for a transition period of up to two months, after which STAC will assume responsibility for the unit’s operations.
Following the latest in a series of sales that saw BW Opportunity, BW Athena, Espoir Ivoirien and Sendje Berge exit the fleet, five units will remain in the hands of buoy specialist Andreas Sohmen-Pao.
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