BW Offshore: Recycling the FPSO Berge Helene in compliance with Hong Kong Convention – GlobeNewswire

Recycling the FPSO Berge Helene in compliance with Hong Kong Convention

BW Offshore has signed an agreement to dispose of the FPSO Berge Helene for environmentally safe demolition and recycling in compliance with the Hong Kong Convention at Priya Blue shipyard in India.

The FPSO Berge Helene (IMO 7360083) is a floating storage/production unit of 274,333 deadweight-ton capacity built in France in 1976 and converted to an FPSO in Singapore in 2005. The vessel is 372 meters long, 52 meters wide and has a depth of 27.4 meters. It is flagged and registered in Singapore, classed by DNV GL and has been in lay-up in Singapore since August 2018.

The vessel is sold for a cash consideration of approximately USD 16 million.

The recycling yard is certified to ISO standards and has been issued with a Statement of Compliance by Class NK in accordance with the IMO Resolution MEPC.210(63) and the Hong Kong International Convention for the safe and environmentally sound recycling of ships. The recycling yard will provide a Statement of Completion of the recycling in accordance with the Hong Kong Convention.

The company has nominated Grieg Green as representatives to be on site at the recycling yard to monitor progress, compliance with environmental and safety regulations and that the ship recycling plan is being applied. A recycling plan has been prepared and provided by the yard in corporation with Grieg Green to ensure strict compliance with the above regulations. To ensure and incentivise safe recycling in this respect, the company will pay a safe recycling bonus upon completion.

For further information, please contact:Stle Andreassen, CFO, +65 97 27 86 47Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40

IR@bwoffshore.com or http://www.bwoffshore.com

About BW Offshore:BW Offshore engineers innovative floating production solutions. The Company has a fleet of 15 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 2,000 employees and is publicly listed on the Oslo Stock Exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

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BW Offshore: Recycling the FPSO Berge Helene in compliance with Hong Kong Convention - GlobeNewswire