Regulatory Approval for Barossa FPSO Equity JV Partnership

BW Offshore is pleased to announce that the regulatory approval has now been granted for the Joint Venture Partnership consisting of BW Offshore Limited, ICMK Offshore Investment Pte Ltd and Macquarie Bank Limited.

The partnership will contribute to the equity financing of the FPSO for the Barossa gas field offshore Australia.

The Barossa FPSO will be financed by a 14-year combined construction and long-term debt facility of USD 1.150 billion and USD 240 million from the equity joint venture, as well as approximately USD 1 billion in pre- payments by Santos and the Barossa Upstream Joint Venture Partners during the construction period.