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

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 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.