Norwegian floater specialist BW Offshore has agreed to recycle its 41-year-old floating production storage and offloading (FPSO) vessel Umuroa at Baijnath Melaram yard in India, says an article published in Splash247.
Compliance with HKIC
The sale of the 1981-built FPSO will generate $13.5m in net liquidity and follows a deal to recycle the 1976-built FPSO BW Cidade de São Vicente at Priya Blue Industries. Both units will be recycled in compliance with the Hong Kong International Convention.
Safe recycling bonus
BW Offshore said it would nominate a third party to be on-site at the recycling yard to ensure health, safety, and environmental regulations are followed. To further incentivise safe operations, the company will pay a so-called “safe recycling bonus” upon completion.
The FPSO Umuroa left the Tui oilfield offshore New Zealand in May 2021 after being stranded for more than a year when the field operator and owner Tamarind went bust.
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