BW Offshore: Successful handover of BW Adolo operations to BW Energy Gabon SA

Core Viewpoint - The successful handover of operations and maintenance of the FPSO BW Adolo to BW Energy Gabon SA marks a strategic transition aimed at optimizing field performance and enhancing operational efficiency in Gabon [1][3]. Group 1: Handover Details - Effective from May 20, 2025, BW Offshore has transferred the operations and maintenance of the FPSO BW Adolo to its subsidiary BW Energy Gabon [1]. - Under an amended bareboat charter, BW Offshore retains ownership of the FPSO and will continue leasing it to BW Energy Gabon without O&M services, with a mutual put-and-call option on the FPSO for USD 100 million, exercisable in 2028 [2]. Group 2: Leadership Statements - Marco Beenen, CEO of BW Offshore, emphasized that the transfer of operational control is a natural progression due to BW Energy's growing presence in Gabon and their ability to capture efficiencies [3]. - Carl K. Arnet, CEO of BW Energy, stated that assuming full O&M responsibility will enable BW Energy Gabon to optimize field performance and achieve additional synergies across the Dussafu hub [3]. Group 3: Operational Performance - Both companies expressed gratitude to the personnel who have maintained BW Adolo safely and efficiently over the past seven years, highlighting the expectation of strong operational performance under BW Energy's leadership [4]. - The FPSO BW Adolo has been deployed on the Dussafu Marin license offshore Gabon, where it has been producing safely since first oil in 2018 [4].