BW Offshore

Africa

BW Energy plans Gabon growth

BW Energy is planning to reach a final investment decision (FID) on its Ruche development, in Gabon’s Dussafu licence, in the last quarter of the year. Further growth is expected to come from August’s Hibiscus discovery. The company continues to hold the Kudu gas project, in Namibia, but like many others before it, progress appears slow.

Market info

BW Offshore earnings hit by FPSO explosion

BW Offshore said its earnings before tax had been negatively impacted by an accident earlier this year offshore Brazil. The company said the recovery project for the FPSO (Floating Production Storage and Offloading) vessel was still ongoing. In March an explosion on the Cidade de Sao Mateus killed nine of the 74 people on board.

Health & Safety

BW Offshore confirms nine fatalities following FPSO explosion

BW Offshore said three remaining crew missing after an explosion had been recovered. The announcement means the total number of fatalities following the incident stands at nine workers. Last month an explosion occurred on Floating Production Storage and Offloading (FPSO) unit Cidade de Sao Mateus.

Health & Safety

Six fatalities now confirmed following explosion in Brazil

BW Offshore said six people are now confirmed to have died following an explosion onboard an FPSO (Floating Production, Storage and Offloading ) unit in Brazil. Three crew members are still missing following the incident one week ago with search and rescue operations continuing. Another five personnel are continuing to receive medical attention in hospital, the company said.

Oil & Gas

BW Offshore cuts dividend on back of low oil price

BW Offshore has cut its dividend following the decline in oil prices and a fatal accident in Brazil last week. The Norwegian company said it plans a dividend of two US cents per share between October and December. The amount is one cent less than in recent quarters and below expectations for three cents.