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BW Offshore: Closing of the sale of the FPSO BW Pioneer

1. Murphy Oil acquires FPSO BW Pioneer for $125 million. 2. Initial payment of $100 million has been made. 3. Remaining payment due by Q2 2025 pending obligations. 4. A five-year O&M contract signed with BW Offshore.

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Why Bullish?

Acquiring FPSO strengthens MUR's operational capabilities, aligning with growth strategies in offshore energy.

How important is it?

The acquisition is significant for MUR, enhancing its asset base and market position in energy.

Why Long Term?

The long-term O&M contract indicates a sustained operational relationship, supporting MUR’s future revenue growth.

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BPXOMOXY
March 26, 2025 02:45 ET  | Source: BW Offshore Closing of the sale of the FPSO BW Pioneer Reference is made to the announcement dated 12 March 2025, in which BW Offshore Limited (“BW Offshore”) announced its agreement to sell the FPSO BW Pioneer for USD 125 million to a subsidiary of Murphy Oil Corporation (NYSE: MUR). Following the close of the transaction, BW Offshore has received the initial payment of USD 100 million. The remaining balance is expected before end of Q2 2025 when certain contractual obligations are met. The two parties have also signed a five-year reimbursable O&M contract, under which BW Offshore will continue to provide operations and maintenance services. For further information, please contact:Ståle Andreassen, CFO, +47 91 71 86 55 IR@bwoffshore.com or www.bwoffshore.com About BW Offshore:BW Offshore engineers innovative floating production solutions. The Company has a fleet of 2 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 1,100 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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