Nordic Business Report-May 2, 2006-Bergesen Worldwide Gas ASA to acquire FPSO Whakaaropai
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The Norwegian tanker shipping company Bergesen Worldwide Gas ASA (BW Gas) said on Tuesday (2 May) that it had entered into an agreement with Spencer Energy (Spencer) to purchase the rights that Spencer has with Shell Todd to purchase the FPSO Whakaaropai.
BW Offshore has also agreed to issue and Spencer has agreed to subscribe to 6,118,421 shares in BW Offshore at a price of USD3.80 per share.
Spencer and BW Offshore have previously entered into agreements whereby BW Offshore has purchased 50% of the rights in the FPSO Whakaaropai, previously marketed as BW Songa.
In accordance with the latest agreement, Whakaaropai will be delivered to BW Offshore in May as a 100%-owned unit and the FPSO will be renamed "BW Endeavour".
One US dollar (USD) is worth approximately 0.56 British pounds (GBP).
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