Q1 2021 BW Offshore Ltd Earnings Call Transcript
Welcome to the BW Offshore Q1 2021 Presentation. (Operator Instructions) Speakers, please begin.
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
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