Norway, March 31 -- BW Energy has signed a sale and leaseback agreement with Minsheng Financial Leasing Co., Ltd. ("MSFL") for the Jasmine Alpha jack up drilling rig. BW Energy will receive an USD 80 million cash consideration, strengthening financial flexibility while maintaining continued access to the unit.Under the agreement, BW Energy has entered into a 12 month lease of the rig, with an option to extend for a further 12 months. The Company expects to recognise an equity gain above the carrying value of the rig, reflecting the value increase since the acquisition of the rig at a favourable price during the Covid-19 pandemic in 2020. The agreement builds on BW Energy's established partnership with MSFL, including the ongoing financing o...