Shell Gives BW Offshore Limited Notice to Proceed for Gato do Mato FPSO

Brazil FPSO.png

FPSO supplier BW Offshore said Thursday that Shell had awarded it limited notice to proceed (LNTP) by Shell and its partners for early-stage engineering and supplier reservations for the supply of an FPSO for the Gato do Mato (Wild Cat) oil and gas field offshore Brazil.

The LNTP is valued up to USD 50 million. Upon completion of the LNTP, Shell and its partners target to award a lease and operate contract to a consortium comprising BW Offshore and Saipem S.p.A., which will be jointly responsible for the engineering, procurement, construction, and installation (EPCI) of the FPSO with expected delivery in 2026. 

The award is subject to the parties finalizing the commercial and pricing terms of the contract in view of the current inflationary supply chain market and a final investment decision to proceed by Shell and its partners.

The FPSO lease and operate contract will have a firm period of 18 years with seven years of options.

“We have a clear strategy of developing and operating infrastructure type floating production solutions with long-term contracts and investment grade counterparties. Gato do Mato is a robust project meeting all our requirements,” said Marco Beenen, the CEO of BW Offshore. 

"We will replicate the Barossa project model, bringing in equity partners, and take it one step further by partnering with Saipem for the EPCI phase to add execution capacity and capabilities. We are very pleased to team up with Saipem and look forward to building a long-term relationship with Shell and its partners in Brazil.”
 

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

FLNG Report

Floating Liquefaction and Regasification Report And Online Database

  • Annual reports -- Our new 150-page report is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
  • Online database -- The online database is updated every day – with information direct from primary sources. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request Free Trial