BW Offshore Makes Strides on Australia-Bound FPSO for Barossa Field

Norway's FPSO operator BW Offshore is progressing steadily on the construction of FPSO BW Opal, destined for Australia's Barossa gas field.

• FPSO hull arrived in Singapore for topside module integration in November 2023.

• First shipboard turret module successfully integrated on February 4, 2024.

• FPSO expected to produce 800 million standard cubic feet per day of gas and 11,000 barrels of condensate.

• First gas on track for H1 2025, with a 15-year contract valued at $4.6 billion.

• Project aligns with BW Offshore's strategy for capitalizing on the tight FPSO market and growing demand for gas as a transition fuel.

• Project involves FPSO vessel, subsea infrastructure, and pipeline connection to existing Bayu-Undan to Darwin LNG pipeline.

• Santos holds a 50% stake in the Barossa field, with SK E&S and JERA holding 32.5% and 12.5% respectively.

• Tightening FPSO market driving trend towards EPCI plus O&M models for newbuilds.