The Norwegian FPSO leasing firm BW Offshore says it has closed a transaction for the sale of the Abo FPSO to a Nigerian company.

BW Offshore will sell the Floating Production Storage and Offloading vessel to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC) for $20 million. The vessel is used for loading and storing crude oil.

The Abo FPSO has been operating for Eni’s Agip in Nigeria for years. The sale comes after several short-term charter extensions.

“As part of the transaction, BW Offshore has entered into a bareboat charter with STAC to allow for uninterrupted operations for the client during a transition period of maximum two months. Upon expiry of the bareboat charter, STAC will assume responsibility for operations of the unit,” BW Offshore said in statement.

“Originally recognized as the “Gray Warrior”, a Suezmax tanker constructed in 1976, the vessel underwent conversion at
https://pluboard.com/2023/09/16/companies/norways-bw-offshore-sells-oil-storage-vessel-for-20m-to-nigerian-buyer/

Money no de money no de, only one man (Nigerian) buy FPSO