Murphy Oil Corporation's subsidiary has completed the initial payment of $100 million for the acquisition of the FPSO BW Pioneer from BW Offshore. This payment was made upon the delivery of the FPSO, as per the terms of the Purchase and Sale Agreement.
The remaining balance of the $125 million gross purchase price is expected to be paid before the end of the second quarter of 2025, upon the fulfillment of certain contractual obligations. This marks a significant step in integrating the asset into Murphy Oil's operations.
Following the transaction, BW Offshore will continue to provide operations and maintenance services for the FPSO under a new five-year reimbursable contract. This ensures continuity of operations at the Cascade and Chinook fields in the Gulf of America.
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