BW Offshore expects stronger 2018

BW Offshore had a profitable 2017, producing first oil on a prestige project late in the year. The company has kicked off 2018 on a more solid platform and can benefit from a stronger market, says CEO.

Photo: PR-foto: BW Offshore

In December, it happened. BW Offshore's new vessel BW Catcher produced first oil for Premier Oil in UK waters on a contract that is so far worth USD 2.3 billion. CFO Knut Sæthre describes the event as a milestone for the carrier.

In the financial report for the fourth quarter and the full-year 2017, CEO Carl K. Arnet lists the December production as one of the key events in a year, in which the carrier delivered a profit of USD 41.2 million after taxes, compared to a deficit of USD 132.9 million the year prior.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas confirms spread of stolen data

Data from the OEM's IT systems have been stolen and offered to a third party, informs Vestas, which has "reasons to believe" that the leaked data mainly pertains to internal company matters, says CEO.

Further reading

Related articles

Latest News

See all jobs