BW Offshore Awarded $80 Million Turret Contract

BW Offshore's technology division APL has been awarded the contract for a complete fluid transfer system, including swivel, to Nexus Floating Production's FPSO Nexus II. The turret is disconnectable and designed to operate in harsh weather.

"This is our second turret contract with Nexus and we are very pleased with the commitment the company once again has put in us," said Svein Moxnes Harfjeld, CEO of BW Offshore. "We are among the leading FPSO contractors in the world, and the complexity of this contract confirms our leading position also as a technology provider to the oil and gas industry."

The contract is for the large STP 5000 turret, including swivel and mooring lines, and also includes delivery of an SDS offloading system. BW Offshore will be responsible for the engineering, procurement and construction of the systems, scheduled for delivery in 2010.

The contract value is approximately USD 80 million.

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