BW Energy signs short-term lease for development rig

BW Energy finalized a short-term lease with Minsheng Financial for the acquisition of the Maromba development rig. The short-term lease covers the purchase price of $107.5 million for the Super Gorilla class jackup rig BW MAROMBA B.

The lease allows BW Energy to begin preparations for the Maromba field development while working with the financing company to finalize long-term funding. The current lease is structured as a bareboat charter with interest-only payments and will be replaced by a long-term charter once completed.