Offshore

BW Offshore impairs for USD 321 million

Impairments on values are characterized by factors including impairments on goodwill and on the floating production facilities. The company believes that the market will turn in the middle of 2017.
Photo: Statoil
Photo: Statoil
BY CHRISTIAN BARTELS

BW Offshore, which specializes in FPSO - Floating Production, Storage and Offloading - has made impairments of USD 321.4 million in the fourth quarter, but managed to salvage the revenue for the full year to a level which is in line with 2014, according to the company's interim and annual report, which was published Monday.

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