BW Offshore secures preferred bidder status for Bay du Nord FPSO

BW Offshore has signed a Head of Agreement (HoA) with Equinor Canada Ltd., confirming its selection as the preferred bidder for the Floating Production, Storage and Offloading (FPSO) unit for the Bay du Nord project offshore Newfoundland and Labrador, Canada. Operated by Equinor in partnership with BP, the Bay du Nord project holds an estimated 400 million barrels of recoverable light crude in its initial phase and is Canada's first deepwater oil project.

The FPSO unit is expected to support production of up to 160,000 barrels of oil per day and will be tailored for the sub-Arctic environment, featuring a disconnectable turret system and extensive winterisation. It will also incorporate emission reduction initiatives such as high-efficiency power generation, heat recovery, variable speed drives, and a closed flare system. The design allows for future tiebacks, enhancing long-long term economic viability.

Following pre-FEED completion in mid-September, BW Offshore and Equinor will enter a bridging phase to prepare for Front End Engineering Design (FEED) in early 2026, subject to approvals from Equinor and BP. BW Offshore will establish a local office in Newfoundland during the FEED phase to support the project.