BW Offshore: Signs Head of Agreement with Equinor for Bay du Nord FPSO

Core Viewpoint - BW Offshore has signed a Head of Agreement with Equinor for the Bay du Nord FPSO project, marking a significant step in Canada's first deepwater oil project, which is estimated to hold 400 million barrels of recoverable light crude [1][4]. Group 1: Project Details - The FPSO unit is designed to support production of up to 160,000 barrels of oil per day and will incorporate advanced features such as a disconnectable turret system and extensive winterization [3]. - Emission reduction initiatives will be included in the FPSO's design, such as high-efficiency power generation, heat recovery, variable speed drives, and a closed flare system [3]. - The project will undergo a Front End Engineering Design (FEED) phase, with BW Offshore establishing a local office in Newfoundland to facilitate this process [4]. Group 2: Strategic Importance - This project aligns with BW Offshore's strategy to deliver high-performance offshore solutions and supports the future of energy [5]. - The selection by Equinor reflects confidence in BW Offshore's capabilities and commitment to value creation, safety, and local engagement throughout the project [4].