Core Insights - The acquisition of FPSO Nganhurra is a strategic move by BW Offshore to capitalize on a limited market opportunity for redeployment of floating production storage and offloading units [3] - The transaction involves a minimal upfront payment, with further payments contingent on successful redeployment by June 2027 [1][2] Company Strategy - The acquisition enhances BW Offshore's ability to provide timely and competitive redeployment solutions, strengthening its strategic position against industry peers [2] - CEO Marco Beenen emphasized that securing the FPSO Nganhurra places the company in a strong competitive position due to the scarcity of suitable FPSOs available for redeployment [3] Asset Details - FPSO Nganhurra, built in 2006, has a production capacity of 100,000 barrels per day and a storage capacity of 900,000 barrels [4] - The unit previously operated offshore Western Australia until 2018 and was laid up in Malaysia, featuring a mooring system that supports operations in varied offshore conditions [4] Financial Considerations - The unit is expected to incur minimal lay-up costs and presents limited downside risk from recycling, allowing for prudent capital management while exploring redeployment options [5]

Company Overview - BW Offshore is engaged in engineering innovative floating production solutions and operates a fleet of Floating Production Storage and Offloading (FPSO) units with ambitions for growth [3] - The company has approximately 1,100 employees and is publicly listed on the Oslo stock exchange [3] Upcoming Financial Results - BW Offshore will release its Q1 2025 results on June 2 at 07:30 CEST [1] - A conference call will be hosted by CEO Marco Beenen and CFO Ståle Andreassen on the same day at 09:00 CEST, which will include a Q&A session [1] Conference Call Details - The presentation can be followed via a webcast with supporting slides and a Q&A module, available on the company's website [2] - There will be a 30-second delay for those following the webcast compared to the main conference call, and it is recommended to use an updated browser, preferably Chrome [2]

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].