Core Viewpoint - The successful handover of operations and maintenance of the FPSO BW Adolo from BW Offshore to BW Energy Gabon 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 O&M of the FPSO BW Adolo to BW Energy Gabon, a subsidiary of BW Energy [1]. - Under an amended bareboat charter, BW Offshore retains ownership of the FPSO and will lease 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: Strategic Implications - The transition is seen as a natural step for BW Energy Gabon, allowing the company to optimize field performance and capture additional synergies across the Dussafu hub [3]. - Both companies express gratitude to personnel for maintaining BW Adolo safely and efficiently over the past seven years, indicating a commitment to strong operational performance under BW Energy's leadership [4]. Group 3: Company Overview - BW Energy is a growth E&P company focusing on proven offshore oil and gas reservoirs through low-risk phased developments, with significant interests in various fields and licenses [5]. - The company holds a 73.5% interest in the producing Dussafu Marine license offshore Gabon, along with interests in fields in Brazil and Namibia, totaling net 2P+2C reserves and resources of 599 million barrels of oil equivalent at the start of 2025 [5].

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].