These vessels will be deployed at the Baleine field under a 15-year firm contract, with Phase 2 expected to start in the fourth quarter of 2024.

Under this contract, Bumi Armada will be responsible for supplying a floating production storage and offloading vessel and either a floating liquefied natural gas unit or a gas pipeline for potential development.

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.

This collaboration aims to potentially reduce CO2 emissions from FPSOs by as much as 70%.

This timeline represents a delay from the previously expected resumption in early September 2023.

The financing involves a consortium of seven international banks.

BW Offshore secured the FPSO contract for the Barossa project in March 2021 and subsequently initiated a partnership involving ICMK Offshore Investment and Macquarie Bank.

The FPSO Anita Garibaldi MV33, part of a project aimed at extending production from the Marlim and Voador fields' deposits, was put into production on August 16, 2023.

In a comprehensive evaluation of the Environmental Statement filed for Avalon, OPRED has requested further information on various aspects of the project.

The decision came after a gas alarm was triggered on July 29, 2023, indicating a possible communication issue between ballast water tank 4S and an adjacent tank within the FPSO Montara Venture.