testata inforMARE

12 August 2022 The on-line newspaper devoted to the world of transports 22:14 GMT+2

June 27, 2022

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Original news
Saipem sells FPSO to BW Energy for $73 million

The ship is operated in Brazil

Saipem and BW Energy have signed a memorandum of agreement for the sale of the Cidade de Vitória, a unit floating production, storage and unloading (FPSO) currently owned by Saipem and managed operationally on behalf of Petrobras in the Golfinho field, off the coast of Brazil. The sale of the FPSO is subject to closure the acquisition by BW Energy of 100% of the rights of Petrobras in the Golfinho field scheduled for the first quarter of 2023.

On the basis of the Memorandum of Understanding, BW Energy will pay Saipem $73 million, including $25 million at the close of Golfinho transaction, 13 million at the time of acquisition and customs clearance of the FPSO, scheduled for 2023, and 35 million in 18 installments monthly after acquisition. Considering the terms of the Golfinho transaction, the current rental and management agreement operational between Saipem and Petrobras - expiring in February 2023 - is extended until the FPSO is acquired or alternately until June 2024, whichever is between the two terms will occur earlier.

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