BW Offshore is pleased to announce that first oil from the BW Adolo FPSO was safely achieved on 16 September 2018, 18 months after the initial investment was made in the Dussafu license offshore Gabon.

"We have achieved first oil from the Dussafu license within budget and on schedule", said Carl K. Arnet, the CEO of BW Offshore. "The execution of the Dussafu project confirms the attractiveness of our model by combining proven resources, a resourceful organisation and access to production assets to achieve short time-to-oil."

The BW Adolo arrived in Gabon in late July and hook up of mooring systems and installation of risers and umbilicals were completed in September. The project was safely completed without any harm to people or the environment.

The FPSO is installed on the Tortue field, one of five proven discoveries in the Dussafu license. The BW Adolo is a converted VLCC with a production capacity of 40,000 barrels of oil per day. The vessel has undergone an increased life extension scope enabling an extended production profile on the back of positive reserve developments.

"Our first priority now is to complete start-up activities and stabilise production on BW Adolo. We will at the same time work towards the final investment decision on Tortue Phase 2, which will unlock additional production volumes, and continue the appraisal program of the recently announced discovery at Ruche NE as well as to confirm additional resources and strengthen the commerciality of the Dussafu license," said Carl K. Arnet.

About BW Offshore

BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore has a fleet of 15 FPSOs and one FSO represented in all major oil & gas regions world-wide. BW Offshore has a long track record on project execution and operations. In more than 30 years of production, BW Offshore has executed 39 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange.