BW Offshore: First Gas Achieved On The BW Opal FPSO

BW Offshore is proud to announce that the BW Opal FPSO has achieved First Gas on 20 September, after successfully reaching Ready for Start-Up (RFSU) for the Santos operated Barossa LNG project on 16 September, initiating 60% of the contractual dayrate under the charter.

First Gas represents a critical juncture in the formal transition from project to operations phase and demonstrates BW Opal's readiness to deliver stable energy production.

The next milestone, Interim Performance Test (IPT), will increase the payable dayrate to 85%. The final milestone, Practical Completion (PC), will conclude the delivery phase, trigger 100% of the dayrate, and mark the commencement of the 15-year firm contract period, securing long-term revenues for the Company under the charter agreement.

"Reaching First Gas on BW Opal is a tremendous achievement and a testament to the hard work, dedication, and collaboration of our teams, contractors, and partners," said Marco Beenen, CEO of BW Offshore. "It demonstrates our commitment to delivering complex projects safely and efficiently, while supporting energy security and value creation for our stakeholders."

The BW Opal FPSO, designed to process 850 million standard cubic feet per day (MMSCFD) of gas and capacity of 11,000 barrels per day of stabilised condensate, will operate in the Santos operated Barossa gas field, located 285 kilometres offshore Darwin in the Northern Territory of Australia. The FPSO will play a central role in unlocking the resource potential of the Barossa field for years to come.

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55

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About BW Offshore:

BW Offshore engineers innovative floating production solutions. The Company has a fleet of 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 1,000 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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