July 12, (THEWILL) – BW Offshore, the Norwegian service provider, has repored that it has closed the transaction for the sale of the floating production storage and offloading (FPSO) vessel Sendje Berge to a local FPSO owner and operator for a total consideration of $15 million.
That local FPSO owner is Century Energy Group, an active, Nigerian owned, oil and gas infrastructure manager, according to statement in the Africa Oil & Gas Report seen by THEWILL.
Century Group has now assumed responsibility for operations of the Sendje Berge, which has completed more than 18 years on the Okwori field since it commenced operations in April 2005.
The Okwori field is located in Oil Mining Lease (OML) 126 in shallow wat Limiteder eastern Niger Delta. It is operated by Antan Producing Limited, a fully owned subsidiary of the Nigerian National Petroleum Company (NNPC) Limited OML 126 is one of the assets taken over from Sinopec owned Addax Petroleum by NNPC Ltd.
The Okwori field has been a subpar performer in the last three months. Its production dropped from 3,184 barrels of oil per day (BOPD) in April 2023, to 840 BOPD in May 2023. It did not produce a drop of crude in June 2023 according to data by the Nigerian Upstream Regulatory Commission (NUPRC).
Century Group is a very busy service provider. It is currently overhauling the Front Puffin (previously the producing unit of the Aje field offshore Lagos), to take on production on the WAEP operated Kaelekule development in OMLs 71 & 72; it is rekitting the Armada Perdana FPSO for deepwater Oyo field and other opportunities in OMLs 120 & 121 and it is involved in the Eli Akaso evacuation infrastructure project, which was planned to take crude from field in OML 18 and adjoining assets and deliver from shuttle tankers i=4to an FPSO.
BW Offshore Limited is a global owner and operator of floating production storage and offloading vessles. The company is listed on Oslo Stock Exchange. The company has its headquarters in Singapore and Oslo, Norway but operates internationally.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
