Norwegian FPSO leasing company BW Offshore has finalized the sale of the Abo FPSO, which has been operating for Eni's Agip in Nigeria, to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC), for $20 million.

As part of the transaction, BW Offshore has entered into a bareboat charter with STAC to ensure uninterrupted operations for the client during a transition period of up to two months. After the charter expires, STAC will assume responsibility for the unit's operations.

The Abo FPSO, originally known as the "Gray Warrior," was a Suezmax tanker constructed in 1976. It underwent conversion at Keppel Shipyard before commencing operations in April 2003. The FPSO has now completed two decades of service on the Abo field in Block OML 125, offshore Nigeria, contributing significantly to the country's oil and gas industry.

The FPSO has an oil production capacity of 44,000 barrels per day, a gas handling capacity of 44 million cubic feet per day, and storage capacity for 930,000 barrels. It is spread-moored in water depths of 500 meters.

BW Offshore has been divesting its non-core FPSO fleet, including the Abo FPSO. Previously, the company sold the FPSO Sendje Berge in Nigeria for $15 million, as well as the Espoir Ivoirien, BW Athena, and BW Opportunity. The company's core FPSO projects include the Barossa FPSO for Santos in Australia, BW Adolo for BW Energy in Gabon, BW Catcher for Harbour Energy in the UK North Sea, and BW Pioneer for Murphy Oil Corporation in the U.S. Gulf of Mexico.