Upstream reported that BW Offshore has closed the acquisition of a used floating production, storage and offloading (FPSO) unit as part of its ongoing efforts to build capacity for future offshore developments. The company has renamed the vessel and is now examining up to three candidate projects where the floater may be redeployed.
The FPSO previously operated as Nganhurra, working on the Enfield oilfield offshore Western Australia under Woodside Energy. Upstream noted that the unit’s operating record and adaptable design position it as a viable option for operators seeking lower-cost, fast-track development pathways.
According to the report, BW Offshore’s move aligns with increased industry interest in redeployed FPSOs, driven by the need to manage costs and execution schedules in a tightening offshore market. With the purchase finalised, the contractor is assessing opportunities that Upstream said could span multiple regions, reflecting near-term demand for proven units.
Upstream also reported that BW Offshore’s approach centres on leveraging an existing FPSO asset, enabling clients to accelerate development timetables without the capital requirements associated with newbuilds.
Source: Upstream
