[Ivory Coast] FPSO Espoir Ivoirien (Divested)

[escveritas]

Contract Duration 2002 - 2023 (2036)
Oil Processing Capacity 45,000 bbl/d
Gas Handling Capacity 80 mmscfd
Water Injection Capacity 120,000 bbl/d
Storage Capacity 1,100,000 bbl
Mooring Turret
Location/Field Ivory Coast/Espoir
Client CNR

[escveritas]

Two dead after leak incident on BW floater offshore Ivory Coast

Incident on FPSO Espoir Ivoirien
14 January 2021
Incident on FPSO Espoir Ivoirien

At 13:30 local time today, an incident occurred whilst work was being performed in a cargo tank onboard the FPSO Espoir Ivoirien operating on the Espoir field offshore the Ivory Coast.

Two fatalities have been confirmed as a consequence of the incident, which was caused by a leakage of hydrocarbons into the tank where the work was being performed. Next of kin have been informed.

Production has been shut down and the leak has been contained within the cargo tank, with all personnel accounted for.

The FPSO is operated by BW Offshore for CNR International. Both companies are cooperating with local authorities in addressing the situation.

"This is a tragic day for the families of the men we have lost, and our hearts go out to them", said Marco Beenen, the CEO of BW Offshore.

[escveritas]

Contract extension for Espoir Ivoirien
21 May 2022

BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Espoir Ivoirien. The firm period has been extended until end Q1 2023.

The FPSO is operating on the Espoir field offshore the Ivory Coast for CNR International (Cote D'Ivoire) SARL.

[escveritas]

Impairment
10 February 2021

BW Offshore has decided to record an impairment to the book value of the FPSOs Berge Helene, BW Cidade de São Vicente and Espoir Ivoirien amounting to USD 59.6 million in the fourth quarter of 2020. The impairments reflect continued uncertainty around redeployment and extension for certain older units in the fleet. The uncertainty is tied to the current market volatility and future development of oil prices, and also considering increased focus on energy transition.

The impairments will be included in the fourth quarter earnings and annual 2020 accounts which will published on 19 February 2021.

[escveritas]

Short-term contract extension for Espoir Ivoirien

31 March 2023

Short-term contract extension for Espoir Ivoirien

BW Offshore Limited has signed a short-term extension for the lease and operation of the FPSO Espoir Ivoirien in order to discuss a potential purchase of the FPSO by the client. The firm period has been extended until 28 April 2023.

The FPSO is operating on the Espoir field offshore the Ivory Coast.

[escveritas]

Short-term contract extension for Espoir Ivoirien
26 April 2023

Short-term contract extension for Espoir Ivoirien

BW Offshore Limited has signed a short-term extension for the lease and operation of the FPSO Espoir Ivoirien in order to discuss a potential purchase of the FPSO by the client. The firm period has been extended until 1 June 2023.

The FPSO is operating on the Espoir field offshore the Ivory Coast.

[escveritas]

Closing of the sale of Espoir Ivoirien

12 June 2023

Closing of the sale of Espoir Ivoirien

BW Offshore has today closed the transaction for the sale of the FPSO Espoir Ivoirien to its client for a total consideration of USD 20 million.

Following the transaction, BW Offshore will provide transitional O&M (Operations and Maintenance) services for a period of up to five months.