May 25, 2021 / 07:00AM GMT
Operator
Welcome to the BW Offshore Q1 2021 Presentation. (Operator Instructions) Speakers, please begin.
Marco Beenen - BW Offshore Limited - CEO
Good morning, everyone, and welcome to the first quarter 2021 presentation of BW Offshore. My name is Marco Beenen, and I will give you a general update of the quarter. And then we have Stale Andreassen, our CFO, who will run you through the financials.
Going to the -- please take note of our disclaimer. And then going to the highlights. Our first quarter of 2021 was a successful quarter, where we finalized 2 transformational agreements for the company. First of all, a very significant FPSO project for the Barossa gas development in Australia, which increases our backlog to USD 7 billion. And secondly, we positioned ourselves in a leading position for floating wind development through the acquisition of a majority shareholding in Ideol, followed by the launch of BW Ideol, which is now listed at Euronext Growth.
Furthermore, our fleet delivered a healthy operational cash flow of USD 114 million, which
Q1 2021 BW Offshore Ltd Earnings Call Transcript
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