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BW Offshore has sealed an agreement to acquire 70% of Brazil’s Maromba offshore field for a price of $90m from Petrobras.

BW Offshore is disposing of its 1980-built FSO Belokamenka to the recycling yard for a cash consideration of approximately $20m.

BW Offshore says it expects a low number of awards in the market in the medium-term as it returned to the black in Q2.

BW Offshore and ICBC Financial Leasing have signed a cooperation agreement on Friday to jointly pursue large international infrastructure projects with a focus on FPSOs.

BW Offshore is targeting to reduce offshore staff costs by 10 – 15% as it reports a $7.3m net loss in for the first half of 2016.

BW Offshore has announced that it will make redundant some 35% of its permanent onshore employees across global locations as part of an extensive cost reduction programme.

FPSO operator BW Offshore has posted a net loss of $216.3m for 2015 after taking a Q4 impairment of $186.9m to write down to zero the net book value of its ‘goodwill’ in the Oil and Gas sector.

BW Offshore is contemplating issuing a senior unsecured bond maturing in June 2020.

The bodies of four Brazilians and one Indian who died following an explosion aboard BW Offshore's FPSO Cidade de São Mateus have been brought ashore, and four Brazilian crew remain missing.

The death toll in the BW Offshore operated FPSO Cidade de São Mateus offshore Brazil has risen to five with four still missing.

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