Murphy Oil’s subsidiary has entered a sale and purchase agreement to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore for $125m (Nkr1.33bn), subject to customary closing adjustments.

Oslo-listed BW Offshore has agreed the sale of one of its floating production storage and offloading (FPSO) vessels for $125m. The buyer of the 96,800-dwt BW Pioneer (built 1992) is a subsidiary of Murphy Oil, the operator of the Cascade & Chinook field in the US Gulf.

Murphy Oil subsidiary signs purchase deal for FPSO vessel from BW Offshore. Acquisition expected to reduce operating costs and increase reserves.

Murphy Oil Corporation MUR recently announced that its unit has entered into a Purchase and Sale Agreement to acquire the BW Pioneer floating production storage and offloading vessel (“FPSO”) from BW Offshore.

Murphy Oil Corporation has announced that a subsidiary has signed a Purchase and Sale Agreement to acquire the BW Pioneer FPSO vessel from BW Offshore.