Floating production contractor BW Offshore is set to take over full ownership of floating production, storage and offloading vessel (FPSO) Petroleo Nautipa in a $49.3million deal.
The company already owns a 50% stake in the FPSO through its Norwegian subsidiary.
Now, it has signed a sale and purchase agreement with the other shareholder Yinson for the remaining 50%.
Completion of the transaction is expected later this year.
Petroleo Nautipa is currently operating for Vaalco Energy in Gabon under a firm charter contract until the third quarter of 2020, with options for an additional two years.
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