Oslo-listed BW Offshore has signed an agreement to scrap its Berge Helene floating production, storage and offloading vessel at an Indian shipyard.

The vessel has been sold for a cash consideration of about $16 million and will be demolished and recycled at the Priya Blue yard in India.

BW's decision brings down the curtain on the 45-year career of a vessel that began its life as an oil tanker in 1976, before being converted into an FPSO in Singapore in 2005 and stationed offshore Mauritania for 12 years.