BW Offshore signed a front-end engineering and design (FEED) agreement with Equinor for the Bay du Nord floating production storage and offloading (FPSO) unit offshore Newfoundland and Labrador, Canada. The agreement follows BW Offshore’s selection as the preferred bidder for the FPSO contract, marking a critical phase ahead of a potential final investment decision in 2027. The FEED phase, expected to run through the end of 2026, will focus on advancing the FPSO design, finalizing execution plans, and aligning commercial and contractual terms, including subcontractor and vendor selection. BW Offshore established a local office in St. John’s and appointed a Local Benefits Manager to support engagement with Equinor, authorities, and the regional supply chain during the FEED phase. The Bay du Nord project, operated by Equinor in partnership with BP, holds an estimated 400 million barrels of recoverable light crude in its initial phase, with potential tie-ins from adjacent exploration licenses in waters up to 1,170 meters deep.