BW Offshore has been chosen as the popular bidder to ship the floating manufacturing, storage and offloading (FPSO) unit for Canada’s first deep-water oil venture, Bay du Nord.
Situated offshore Newfoundland and Labrador, Canada, the Bay du Nord venture is operated by Equinor in partnership with BP. It’s estimated to initially maintain 400 million barrels (mbbl) of recoverable mild crude.
Equinor Canada has signed a heads of settlement (HoA) with BW Offshore to advance talks on the technical and business points of the FPSO venture for Bay du Nord.
The venture will contain front-end engineering design (FEED) work and the finalisation of a business answer.
Tailor-made to face up to the sub-Arctic’s unfavourable setting, the FPSO is predicted to assist obtain a manufacturing capability of as much as 160,000 barrels of oil per day (bopd).
It’s set to supply a disconnectable turret system, intensive winterisation, and emission-reduction initiatives like environment friendly energy technology, warmth restoration and a closed flare system.
BW Offshore CEO Marco Beenen mentioned: “We’re honoured to have been chosen by Equinor, which reveals confidence positioned in BW Offshore’s capabilities to help such a pioneering Canadian venture.
“This HoA follows a constructive and shut dialogue with Equinor since late 2023 and highlights our dedication to bringing substantial worth to the Bay du Nord venture. It affirms BW Offshore’s dedication to proceed work with Equinor to develop a fit-for-purpose and cost-attractive answer the place security, human rights and seek for native worth creation come first throughout all phases of the venture and operations.”
The subsequent steps embrace finishing the pre-FEED work by mid-September and getting into a bridging section to arrange for FEED in early 2026, contingent on vital approvals from BP and Equinor.
In the course of the FEED section, BW Offshore plans to develop an area workplace in Newfoundland in japanese Canada.
“BW Offshore named as most well-liked bidder for Bay du Nord FPSO venture” was initially created and printed by Offshore Expertise, a GlobalData owned model.
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