Deal with Chinese group covers mobile offshore production unit for Maromba project
Oslo-listed independent BW Energy has converted what was a short-term lease of a jack-up rig, set to be converted into a mobile offshore production unit for Brazil, into a long-term charter.
Three months ago, the operator signed a short-term lease for the Super Gorilla class jackup BW Maromba B signed in September 2025 which has now been converted into a long-term project lease agreement with China’s Minsheng Financial Leasing Company.
The $1.5 billion Maromba development comprises an integrated drilling and wellhead platform tied back to a refurbished floating production, storage and offloading vessel that was previously used on the Polvo field in Brazil.
First oil is planned by the end of 2027, with an expected oil production plateau of 60,000 barrels per day.
BW Energy said its new lease agreement covers the rig purchase and all costs required to bring the Maromba B wellhead platform to drilling and production readiness.
This deal, said the operator, represents $274 million of the previously communicated Maromba capital expenditure “and provides an efficient lease financing structure for the project’s development phase, followed by a 10-year lease term.”
The lease will start when Maromba produces first oil, with no payments due before this point.
BW Energy said the lease has been agreed at a fixed daily rate of $120,500.
Commenting on the arrangement, Thomas Young, the the company’s chief financial officer, said it is “attractive” and builds on its “strong relationship” with Minsheng.
The rig is currently on route from Singapore to Dubai, where it is due to arrive before the end of 2025.
In Dubai, it will be refurbished and converted into a fully integrated drilling and production platform for the company’s shallow water Maromba project offshore Brazil.
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