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BW Offshore: Signs FEED agreement for Bay du Nord FPSO

Written by Customer Service on . Posted in Public Companies.

Signs FEED agreement for Bay du Nord FPSO

BW Offshore has signed a Front-End Engineering and Design (FEED) agreement with Equinor for the Bay du Nord development offshore Newfoundland and Labrador, Canada.

The FEED agreement formalises the next phase of the project following BW Offshore’s selection as preferred FPSO bidder and represents continued progress towards a potential final investment decision in 2027.

The FEED phase is expected to run through the end of 2026 and will be used to mature the FPSO design, finalising the project execution plan and delivery schedule, progressing commercial and contractual alignment, including selection of major subcontractors and vendors towards a firm offer to Equinor. A local content plan will also be developed in line with the Frame Agreement and the Atlantic Accord.

BW Offshore has established a local office in St. John’s, Newfoundland and Labrador, and has hired a Local Benefits Manager to support close collaboration with Equinor, local authorities and the regional supply chain throughout the FEED phase and into execution. An official opening is planned for early June.

“Signing the FEED agreement is a significant step for the Bay du Nord project. BW Offshore is very excited and fully committed to the Bay du Nord development to progress the project in close cooperation with Equinor and local stakeholders”, said Marco Beenen, CEO of BW Offshore.

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55
IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs and floating wind solutions. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets worldwide. BW Offshore has around 900 employees and is publicly listed on the Oslo stock exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

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