BW Offshore Named Preferred Bidder for Bay du Nord FPSO Offshore Canada

BW Offshore has been named the preferred bidder by Equinor Canada for the Floating Production, Storage, and Offloading (FPSO) unit for the Bay du Nord project, Canada's first deepwater oil initiative located offshore Newfoundland and Labrador. The FPSO is designed to operate in harsh sub-Arctic conditions, supporting production of up to 160,000 barrels of oil per day, with features including a disconnectable turret system, extensive winterisation, and emission reduction technologies such as efficient power generation and heat recovery. Equinor and BW Offshore have signed a Head of Agreement to advance technical and commercial discussions, including Front End Engineering Design (FEED), with final investment decisions expected by 2027 and production targeted for 2031. BW Offshore plans to establish a local office in Newfoundland during the FEED phase to support the project, which is operated by Equinor in partnership with BP and holds an estimated 400 million barrels of recoverable light crude. Both companies emphasize safety, local value creation, and cost-effectiveness as priorities throughout the project phases. The collaboration reflects a commitment to bringing substantial value to Bay du Nord amid the complex and evolving energy landscape.