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BW Pioneer

October 26, 2009

U.S. Gulf FPSO on track

Singapore's Keppel Shipyard is on track to deliver the first floating production storage and offloading (FPSO) vessel for the U.S. Gulf of Mexico (GoM) to BW Pioneer Ltd, an affiliate of BW Offshore.

Named today at Keppel Shipyard, the BW Pioneer will be turret moored in a water depth of about 2,600 meters -- the deepest yet for an FPSO.

The FPSO, which is nearing completion, has achieved an impressive shipbuilding safety record of more than 4 million incident-free man-hours to-date.

BW Pioneer has been leased by Petrobras America Inc. to operate in the Cascade and Chinook fields of the U.S. GoM, with production scheduled for the first quarter of 2010.

Mr. Carl Arnet, CEO of BW Offshore said, "The successful conversion of BW Pioneer is an important milestone for us. Being the first contractor to place an FPSO in the weather-exposed U.S. Gulf of Mexico gives BW Offshore a seal of quality and strengthens our position and track record as a leader in the region.

BW Pioneer is equipped with an internal disconnectable Submerged Turret Production (STP) mooring system. In the event of an approaching hurricane, this will allow the FPSO to disengage from site and move under its own propulsion to seek sheltered waters.

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine, said, "Working with trend-setting customers over the years, Keppel Shipyard has achieved many 'firsts' in the industry for complex vessel conversions. BW Pioneer is yet another groundbreaking vessel, which we are proud to add to our track record."

BW Pioneer has a storage capacity of about 600,000 barrels of oil, a process capacity of 80,000 bopd and gas export facilities of 16 mmscfd.

This is the second FPSO Keppel has delivered to BW Offshore this year. FPSO BW Cidade de Sao Vicente which also achieved a zero incident safety record was delivered earlier this year as an Early Well Test (EWT) FPSO for the gigantic Tupi deepwater field.


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