BW Energy has signed a sale-leaseback agreement with Minsheng Financial Leasing Co., Ltd. for the jack-up rig Jasmine Alpha. The company stated it will receive a cash consideration of $80 million, thereby enhancing its financial flexibility while retaining usage rights of the equipment. Under the agreement, BW Energy has leased back the rig for a term of 12 months, with an option to extend for an additional 12 months. The company expects to recognize a gain on equity above the rig's book value, reflecting the asset's appreciation since its acquisition at a favorable price during the COVID-19 pandemic in 2020. "We are realizing significant value from an asset acquired at a deep discount, while maintaining operational availability and full strategic flexibility, including the potential for future conversion into a production platform for deployment across our development portfolio. This transaction strengthens BW Energy's balance sheet and demonstrates our ability to consistently execute flexible and competitive infrastructure financing solutions to support our plan of tripling production by 2028," said Thomas Young, Chief Financial Officer of BW Energy. This agreement builds upon the existing collaborative relationship between BW Energy and Minsheng Financial Leasing, who are also currently cooperating on the financing of the Maromba B wellhead platform.