BW Energy Entered into an Agreement for an up to $80M Prepayment Facility

Source: www.gulfoilandgas.com 8/31/2023, Location: South America

BW Energy has entered into an agreement for an up to USD 80 million prepayment facility with a leading commodity trading company.

The one-year prepayment facility will be used to finance the acquisition of the Golfinho field, the FPSO Cidade de Vitória and field-related investments. As part of the transaction, BW Energy has also entered into an offtake agreement to sell and deliver the crude oil production from the Golfinho field to the commodity trader during the term of the facility.

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