BW Energy sells, leases back Jasmine Alpha jackup

BW Energy signed a sale and leaseback agreement with Minsheng for the Jasmine Alpha jackup. BW will receive an $80-million cash consideration, strengthening financial flexibility while maintaining continued access to the unit.

Under the agreement, BW has entered into a 12-month lease of the rig, with an option to extend for a further 12 months. The agreement builds on BW’s established partnership with MSFL, including the ongoing financing of the Maromba B wellhead platform.