Nexus Floating Production has in a separate notice today reported that their Board of Directors is working on a restructuring plan. The plan is subject to approval by the various stakeholders. BW Offshore will, subject to financing and approval by the board of directors of BW Offshore, underwrite a potential private placement in Nexus Floating Production of $104 million.
BW Offshore has the intention to enter into an agreement with Nexus Floating Production related to the field specific upgrade and operation of the Nexus FPSO 1.
The agreement has a potential contract value of $160 million to cover field specific investments. BW Offshore will also be compensated for the operation of the FPSO.
