Equinor has designated BW Offshore as the preferred bidder for the Bay du Nord floating production, storage and offloading (FPSO) unit. The vessel will be used by the operator in a deepwater oil project in Canada in partnership with BP.
The Bay du Nord field, located off the coast of Newfoundland and Labrador, is calculated to initially provide about 400 million barrels of recoverable light crude. According to the heads of agreement (HoA) signed between BW Offshore and Equinor, the FPSO should produce up to 160,000 barrels per day.
Also according to the HoA, pre-front-end engineering design (pre-FEED) work is on track for completion in mid-September, after which the parties will enter a bridging phase to prepare for FEED in early 2026, subject to approvals. The newbuild FPSO contract should be awarded by Equinor around late 2026.
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