BW Energy seals $80m sale and leaseback for Jasmine Alpha rig

BW Energy has entered into an $80m merchantability and leaseback woody with Minsheng Financial Leasing (MSFL) for the Jasmine Alpha jack-up drilling rig.

The transaction volition alteration BW Energy to clasp operational entree to the rig nether a 12-month lease, with an enactment to widen for different year.

The institution anticipates that the woody volition realise an equity summation implicit the rig’s carrying value, reflecting the asset’s appreciation since its acquisition astatine a reduced outgo successful 2020 during the Covid-19 pandemic.

BW Energy main fiscal serviceman Thomas Young said: “We are realising important worth from an plus acquired astatine a heavy discount portion maintaining operational availability and afloat strategical flexibility, including the imaginable aboriginal repurposing into a accumulation level for deployment successful our improvement portfolio.

“The transaction strengthens BW Energy’s equilibrium expanse and demonstrates our quality to repeatedly execute flexible and competitory infrastructure financing solutions successful enactment of our program to triple accumulation successful 2028.”

The statement continues BW Energy’s practice with MSFL, which already includes financing for the Maromba B wellhead platform.

The presumption of this latest woody are accordant with BW Energy’s infrastructure financing strategy.

BW Energy is engaged successful lipid and state production, improvement and exploration activities successful Gabon, Brazil, and Namibia.

The institution holds full nett 2P reserves of much than 240 cardinal barrels of lipid equivalent (mboe), on with an further 390 cardinal barrels(mbbl) classified arsenic 2C resources.

It plans to summation accumulation from astir 30,000 barrels of lipid per time (kbopd) successful 2025 to astir 90kbopd by 2028.

In December 2025, BW Energy entered into a semipermanent lease statement with MSFL for the Super Gorilla-class jack-up rig BW Maromba B, pursuing the conversion of a short-term lease archetypal signed successful September of that year.

In October 2025, the institution reported that the Kharas-1 appraisal good wrong the Kudu licence offshore Namibia reached its planned full depth. The good was designed to measure respective targets wrong a azygous borehole, generating geological information crossed assorted formations.

"BW Energy seals $80m merchantability and leaseback for Jasmine Alpha rig" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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