Oslo-listed BW Offshore has decided to take a $66.6 million impairment on five of its floating production, storage and offloading vessels due to uncertainty over future contracts.

Earlier this week, the company decided to record an impairment to the book value of its BW Athena, Espoir Ivoirien, Sendje Berge, Petroleo Nautipa and Umuroa vessels in the fourth quarter of 2021.

BW said the impairment "reflects reduced expectation of longer term extensions" to current contracts for those FPSOs still in operation, as well as a limited potential for future redeployment of all those five vessels.