Page 39: of Maritime Reporter Magazine (April 2011)

How did the changes affect the company?

The changes influenced a lot of things here in Brazil, for example, Prosafe was double our size in Brazil, so now we have 250 employees and three FPSOs operat- ing in Brazil, with another one due to ar- rive by the end of the year (The

Papa-Terra FPSO).

So which FPSOs are operating in Brazil?

There is the Cidade de São Vicente FPSO, which was the first to work the pre-salt and was at the Tupi field EWT. There is the Polvo FPSO contracted to Devon. The

Cidade de São Mateus FPSO which is working the Camarupim field for Petro- bras. We are expecting the Papa Terra

FPSO to be delivered from the shipyard where it is being built in Singapore, by the end of the year. It will be operating the

Papa Terra field in the Campos Basin.

What about the BW Pioneer FPSO that was contracted by Petrobras for the Cas- cade & Chinook field in the Gulf of Mex- ico?

It is very close to begin production. The plan is to begin production by the end of next week (late March). It will be the first

FPSO on the American side of the

GOM, we already have a large FPSO operating on the Mexican side (the largest FPSO in the world), therefore with the BW Pioneer starting opera- tions we will have the only two FPSOs operating at the GOM.

How many FPSOs does BW Offshore have operating in West Africa?

Many! Our total in Africa is 13 or 14

FPSOs in operation.

How did the acquisition of Prosafe affect

BW Offshore´s earnings?

With Prosafe we now have a truly global reach, for you to have an idea… we have a back log of $8 billion. The forecast is for us to have yearly earnings of around $400m.

What can you tell us about the APL sale?

The APL sale was really a win-win situa- tion as now APL is owned by a business that has its same characteristics, such as mechanical and hydraulic technology, with a global infrastructure for these kinds of products and services. I think it will be good for them. They will have a bigger market.

We are a now a bigger company with

Prosafe coming aboard but we still have technological agreements with APL, so I see the sale as a win-win for my company.

How do you see the business possibilities for your company in Brazil in the near fu- ture?

Brazil looks like it will become the largest

FPSO market in the world and we want to participate. However, we need to evaluate the business prospects here in relation to other alternatives. Our preference would be for a more selective market in the fu- ture. One person might say that business is

April 2011 www.marinelink.com 39 “Brazil looks like it will become the largest FPSO market in the world and we want to participate.

However, we need to evaluate the business prospects here in rela- tion to other alternatives.” • Jon Harald Kilde M.S.c., GM,

BW Offshore (Photo Claudio Paschoa)