Duyuru • Nov 20
BW Energy Provides Second Update on Kudu Appraisal Well BW Energy has completed drilling operations on the Kharas-1 appraisal well in the Kudu license area, offshore Namibia. The well reached a total depth of 5,100m and intersected multiple reservoir intervals. The well will now be plugged, and abandoned in line with the planned program. Several shallow turbidite reservoirs with dry-gas shows were encountered, and reservoir properties from these and the acquired whole core are now being evaluated. In the deeper section of the well, hydrocarbons were encountered in a fractured volcaniclastic reservoir. This confirms a working petroleum system with condensate and/or light oil. Further analysis is ongoing to determine the extent of the system and to characterise reservoir properties and appraisal options. Duyuru • Nov 01
BW Energy Announces Update on Kudu Appraisal Well BW Energy provided an update on the Kharas-1 appraisal well, which has reached total depth and drilled multiple formation present across the Kudu license. The well was strategically designed to intersect several targets within a single borehole. While this approach did not allow for individual optimisation of each formation, it provided valuable geological data across the broader petroleum system. Preliminary results are encouraging. Several intervals show indications of hydrocarbon presence and reservoir potential, suggesting a working petroleum system at Kharas. Early analysis indicates that the K1 interval may contain hydrocarbons wetter than dry gas. A hydrocarbon migration front has been observed, and wireline operations are underway to assess reservoir quality, fluid type, and pressure characteristics. A follow-up appraisal campaign will be required to evaluate the individual targets in greater detail. The outcome of the wireline program will guide decisions on the next well location and the future appraisal strategy. Duyuru • May 27
BW Energy Limited Announces Committee Appointments BW Energy Limited at its 2025 Annual General Meeting 2025 on May 26, 2025, Appointment of Nomination committee members: Ms. Elaine Yew Wen Suen be and is hereby appoint as the Chair of the Nomination Committee. Ms. Alicia Yik be and is hereby appointed as a Member of the Nomination Committee. Duyuru • May 23
BW Energy Limited Announces the Resignation of Sophie Smith from the Nomination Committee as the Chair and A Member Effective 24 January 2025 BW Energy Limited announced the resignation of Sophie Smith from the Nomination Committee as the Chair and a Member effective 24 January 2025. Duyuru • Mar 07
BW Energy Limited Announces A Substantial Oil Discovery with Good Reservoir Quality on the Bourdon Prospect in the Dussafu Licence Offshore Gabon BW Energy announced a substantial oil discovery with good reservoir quality on the Bourdon prospect in the Dussafu Licence offshore Gabon. Evaluation of logging data and formation pressure measurements confirm approximately 34 metres of pay in an overall hydrocarbon column of 45 metres in the Gamba formation, making it the larger hydrocarbon column discovered to date in the Dussafu licence. The well was drilled by the Norve jack-up rig to a total depth of 4,135 metres. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves. Bourdon is located approximately 15 kilometres west of BW Adolo FPSO and 7.5 kilometres southeast of the MaBoMo facility. Duyuru • Jan 31
BW Energy Limited Provides Production Guidance for 2025 BW Energy Limited provided production guidance for 2025. Production guidance for 2025 is between 11 and 12 mmbbls net to BW Energy. Duyuru • Jan 30
BW Energy Limited (OB:BWE) completed the acquisition of 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. BW Energy Limited (OB:BWE) signed a letter of intent to acquire 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) for approximately $145 million on July 16, 2024. BW Energy Limited (OB:BWE) entered into definitive farm down agreement to acquire 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) approximately on July 30, 2024. For total potential consideration of $141 million, including US$16 million equity investment and an additional US$45 million in carry payments based on achievement of commerciality. These payments will be paid in two installments, one at FID and the second payment one year after production. In the event of development of discoveries, production milestone payments could total an additional US$80 million. Three separate production payments of US$25 million, are made after BW Energy reaches certain free cash flow milestones. An additional first production payment of US$5 million, is paid sixty days after the start of commercial production. On completion of the transaction, the ownership interests in PEL 73 will be; ReconAfrica 70%, BW Energy 20%, and NAMCOR 10%. ReconAfrica remains the operator of PEL 73. This is subject to the satisfaction of customary closing conditions, including entering into a definitive farm down agreement and approvals from the state oil company of Namibia and the Ministry of Mines and Energy in Namibia. Completion of the transaction is expected to occur before October 31, 2024.
BW Energy Limited (OB:BWE) completed the acquisition of 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) on January 29, 2025. Duyuru • Dec 11
BW Energy Limited, Annual General Meeting, Apr 30, 2025 BW Energy Limited, Annual General Meeting, Apr 30, 2025. Duyuru • Dec 10
BW Energy Limited to Report First Half, 2025 Results on Aug 01, 2025 BW Energy Limited announced that they will report first half, 2025 results on Aug 01, 2025 Duyuru • Nov 08
BW Energy Limited to Report Q3, 2024 Results on Nov 15, 2024 BW Energy Limited announced that they will report Q3, 2024 results at 7:30 AM, Central Europe Standard Time on Nov 15, 2024 Duyuru • Aug 29
BW Energy Limited Provides Production Guidance for the Year 2024 BW Energy Limited provided production guidance for the year 2024. Total production net to BW Energy from Gabon and Brazil for 2024 is projected to be between 10 and 11 million barrels, based on the current Hibiscus /Ruche development plan and ESP work-over schedule. Duyuru • Jul 17
BW Energy Limited (OB:BWE) signed a letter of intent to acquire 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) approximately $145 million. BW Energy Limited (OB:BWE) signed a letter of intent to acquire 20% stake in Petroleum Exploration Licence 73 in the Kavango Basin from Reconnaissance Energy Africa Ltd. (TSXV:RECO) approximately $145 million on July 16, 2024. For total potential consideration of $141 million, including US$16 million equity investment and an additional US$45 million in carry payments based on achievement of commerciality. These payments will be paid in two installments, one at FID and the second payment one year after production. In the event of development of discoveries, production milestone payments could total an additional US$80 million. Three separate production payments of US$25 million, are made after BW Energy reaches certain free cash flow milestones. An additional first production payment of US$5 million, is paid sixty days after the start of commercial production. On completion of the transaction, the ownership interests in PEL 73 will be; ReconAfrica 70%, BW Energy 20%, and NAMCOR 10%. ReconAfrica remains the operator of PEL 73. This is subject to the satisfaction of customary closing conditions, including entering into a definitive farm down agreement and approvals from the state oil company of Namibia and the Ministry of Mines and Energy in Namibia. Duyuru • Jun 05
BW Energy Limited Appraisal Confirms Material Hibiscus Field Reserve Increase BW Energy Limited with reference is made to the stock exchange notice by BW Energy on 20 May 2024 announcing a substantial oil discovery on the northern flank of the Hibiscus field. BW Energy has now concluded the drilling and the logging of the DHIBM-7P pilot well, confirming a substantial oil discovery with good reservoir quality and a material uplift to the Hibiscus area. The Company’s preliminary evaluation indicates an increase in Hibiscus gross recoverable reserves (mid-case) of approximately 8 million barrels of oil to 12 million barrels of oil. The Company plans to complete the well as a development well later in 2024. The DHIBM-7P pilot was drilled from the MaBoMo production platform to a total depth of 3,941 metres. The target area is located approximately 1.5 kilometres north-northwest of the MaBoMo and was drilled by the Borr Norve jack-up rig. Notably, the hydrocarbon column extends across the boundary between the Gamba and the underlying Dentale formation. This is the first example of a common Gamba-Dentale hydrocarbon accumulation in Hibiscus Field. The current operation in Dussafu is to complete the development well (DHBSM-2H) in the northern flank of the Hibiscus South field that was recently successfully appraised. Duyuru • May 30
BW Energy Limited Announces Chief Financial Officer Changes BW Energy Limited has appointed Brice Morlot as Chief Financial Officer effective from 30 June 2024. Mr. Morlot succeeds Knut R. Sæthre, who has been the CFO of BW Energy since 2019, contributing significantly to the company's financial stewardship and strategic direction. Mr. Morlot brings extensive experience to the Company, combining a solid financial understanding with an operational background in the E&P business. Most recently, serving as Managing Director of Assala Energy in Gabon, and before that, from other leadership roles in Assala, SCOR and Perenco. He will be based in BW Energy’s office in Lisbon Portugal. Mr. Morlot will undergo a transitional period working closely with Mr. Sæthre to ensure a seamless handover. Duyuru • May 25
BW Energy Limited Provides Production Guidance for the Year 2024 BW Energy Limited provided production guidance for the year 2024. For the year, the company expects net production of 10 million barrels to 12 million barrels. Duyuru • May 23
BW Energy Limited Announces Board Appointments The Annual General Meeting 2024 of BW Energy Limited was held on May 21, 2024. With reference to AGM 2024 minutes, BW Energy announced two new board members, Mr. Darrell McKenna and Mr. Alan Dowokpor. Darrell McKenna is currently the Executive Chairman on the Board of Samson Oil and Gas/Springline Energy and a technical advisor to engineering and field staff in Samson Oil and Gas/Springline Energy. Mr. McKenna has over 40 years of experience in the oil and gas industry in various engineering and leadership roles of a wide range of companies within the energy sector, including Mobil, Schlumberger, Hess, Kosmos Energy and Oracle Energy. Mr. McKenna holds a degree in Petroleum Engineering (with honors) from the Montana School of Mineral Science and Technology (Montana Tech) in Butte, Montana. Alan Dowokpor is currently Deputy Chair and a member of the Remuneration and Nominations Committee of the Board of Harwich Haven Authority (a major UK Trust Port). Mr. Dowokpor has over 30 years of global, strategic, operations and business leadership experience in the oil and gas industry with a focus on upstream exploration, production, and development from BP and Tullow Oil. Mr. Dowokpor holds a Masters degree in Petroleum Engineering from Imperial College, London. Duyuru • May 09
BW Energy Announces Hibiscus South Pilot Well Confirms Hydrocarbons BW Energy announced that the DHBSM-2P pilot well confirms that the Hibiscus South deposit extends into the northern part of the field with good reservoir quality, increasing reserve estimates. The Company plans to complete the well as a production well later in 2024. The DHBSM-2P Pilot was drilled from the MaBoMo production platform to a total depth of 5,130 metres. The target area is located approximately 3.2 kilometres west-northwest of the MaBoMo and was drilled by the Borr Norvejack-up rig. Evaluation of logging data, sample examination and formation pressure measurements confirm approximately 25 metres of pay in an overall hydrocarbon column of 35 metres in the Gamba formation. The well data provides additional confirmation that the Hibiscus South structure is a separate accumulation with a deeper oil-water contact than the nearby Hibiscus Field. This will enable the Company to book additional reserves not currently included in its annual statement of reserves and provide the opportunity to drill one or more additional production wells from the MaBoMo facility. Preliminary evaluation indicates gross recoverable reserves of 5 to 6 million barrels of oil and approximately 14 million barrels of oil in place. Duyuru • Apr 30
BW Energy Limited Provides Earnings Guidance for the First Quarter of 2024 BW Energy Limited announced that the company expects to recognise a net loss of USD 3.3 million in the first quarter related to the hedging program, of which USD 3.8 million is unrealised. Duyuru • Mar 08
BW Energy Starts Production from Hibiscus South Field Five Months After Discovery BW Energy announced that production has safely started from the DHBSM-1H well in the Hibiscus South field on the Dussafu Licence offshore Gabon five months after the initial discovery was made in November 2023. Production performance from the well has been in line with expectations and is currently stabilised at approximately 5,000-6,000 barrels of oil per day. The DHBSM-1H well was drilled as a horizontal well from the BW MaBoMo production facility to a total depth of 5,960 metres into Gamba sandstone reservoir. The well is located approximately 5 kilometres southwest of the MaBoMo in a separate accumulation with a deeper oil-water contact than the nearby Hibiscus Field. Following completion, the Borr Norve jackup has commenced drilling operations on the Ruche sidetrack well (DRM-3H ST1). The DHBSM-1H well is expected to recover 6.6 mmbbls from approximately 22 mmbbls oil in place, based on third party 2P estimates. Duyuru • Feb 29
BW Energy Limited Provides Production Guidance for the Year 2024 BW Energy Limited provided production guidance for the year 2024. Total production net to BW Energy from Gabon and Brazil for 2024 is projected to be between 10 and 12 million barrels, based on the current Hibiscus /Ruche development plan and ESP work-over schedule. Duyuru • Dec 14
BW Group (Offeror) agreed to acquire remaining 60% in BW Energy Limited (OB : BWE) for NOK 4.2 billion in a tender offer. BW Group (Offeror) agreed to acquire remaining 60% in BW Energy Limited (OB : BWE) for NOK 4.2 billion in a tender offer on December 13, 2023. Under the terms, NOK 27 per share will be paid in cash. Offer period: From and including December 14, 2023 to January 12, 2024. DNB Markets, a part of DNB Bank ASA is acting as financial advisor and receiving agent, and Advokatfirmaet Thommessen AS is acting as legal advisor, to the BW Group Limited. Duyuru • Nov 23
BW Energy Limited (OB:BWE) acquired FPSO Cidade de Vitoria from Saipem SpA (BIT:SPM). BW Energy Limited (OB:BWE) has signed an agreement to acquire FPSO Cidade de Vitoria from Saipem SpA (BIT:SPM) for $73 million on June 24, 2022. BW Energy will pay Saipem $73 million in fixed consideration for the FPSO of which $25 million is due at closing, $13 million due at FPSO takeover and $35 million paid in 18 monthly instalments following the takeover. The transaction is subject to fulfilment or waiver of conditions precedents with an expected closing and takeover of the FPSO in the first quarter of 2023. As of March 16, 2023, the transaction is expected to close in Q2, 2023.BW Energy Limited (OB:BWE) completed the acquisition of FPSO Cidade de Vitoria from Saipem SpA (BIT:SPM) on November 21, 2023. Duyuru • Sep 13
BW Energy Starts Production from Fourth Well in the Hibiscus / Ruche Development BW Energy announced that production has safely started from the fourth well of the Hibiscus /Ruche Phase 1 development in the Dussafu licence offshore Gabon. Well performance is in line with expectations with current production at approximately 6,500 barrels per day. The DHIBM-6H well was drilled as a horizontal well from the MaBoMo production facility to a total depth of 4,125 metres into Gamba sandstone reservoir at the Hibiscus field. Following completion, the Borr Norve jack-up has commenced drilling operations on the fifth production well DRM-3H. This will be the first Ruche Gamba well in this drilling campaign. As previously communicated, DHIBM-3H and -4H have experienced issues with the ESPs (electrical submersible pumps). Investigations into the cause are ongoing. DHIBM-4H is currently flowing naturally at 2,800 barrels per day, while DHIBM-3H is temporarily not producing while continue to work solutions. Current gross production from the Dussafu license is now approximately 26,500 barrels per day after the fourth Hibiscus well came onstream. The drilling campaign targets four Hibiscus Gamba and two Ruche Gamba wells which are expected to bring the total oil production up to approximately 40,000 barrels per day when all wells are completed in early 2024. The oil produced at Hibiscus/Ruche is transported by pipeline to the BW Adolo FPSO for processing and storage before offloading to export tankers. Duyuru • Aug 25
BW Energy Limited Announces the Production Guidance for 2023 BW Energy Limited announced the production guidance for 2023. The company expects the peak annual production in 30,000 to 40,000 barrels per day range. Duyuru • Jul 22
BW Energy Starts Production from Third Well in the Hibiscus / Ruche Development BW Energy announced that production has safely started from the third well of the Hibiscus /Ruche Phase 1 development in the Dussafu licence offshore Gabon. Well performance is in line with expectations with current production at approximately 6,000 barrels per day. The DHIBM-5H well was drilled as a horizontal well from the BW MaBoMo production facility to a total depth of 4,245 metres into Gamba sandstone reservoir at the Hibiscus field. Following completion, the Borr Norve jack-up has commenced drilling operations on the fourth production well (DHIBM-6H). The drilling campaign targets four Hibiscus Gamba and two Ruche Gamba wells which are expected to bring the total oil production up to approximately 40,000 barrels per day when all wells are completed in early 2024. The oil produced at Hibiscus /Ruche is transported by pipeline to the BW Adolo FPSO for processing and storage before offloading to export tankers. Duyuru • Jul 21
BW Energy Announces Start-Up of Gas Lift Compound on BW Adolo FPSO BW Energy announced the start-up of the new gas lift compressor (GLC) on the BW Adolo FPSO following commissioning and a gradual ramp up of gas lift capacity over the past weeks. The compressor is the second GLC unit installed on the FPSO to support production from the six Tortue wells. Once fully operational it is expected to add approximately 3,000 barrels per day of production as previously communicated. Duyuru • Jun 15
BW Energy Starts Production from Second Hibiscus / Ruche Well BW Energy announced that production has safely started from second well of the Hibiscus /Ruche Phase 1 development in the Dussafu licence offshore Gabon. Production performance from the well has been in line with expectations and is currently stabilised at approximately 6,000 barrels per day. The DHIBM-4H well was drilled as a horizontal well from the BW MaBoMo production facility to a total depth of 4,800 metres into Gamba sandstone reservoirs on the Hibiscus field. Following completion, the Borr Norve jackup has commenced drilling operations on the third production well (DHIBM-5H). The drilling campaign targets four Hibiscus Gamba and two Ruche Gamba wells which are expected to add approximately 30,000 barrels per day of total oil production when all wells are completed in early 2024. The oil produced at Hibiscus /Ruche is transported by pipeline to the BW Adolo FPSO for processing and storage before offloading to export tankers. Separately, the commissioning and testing of the second gas lift compressor is ongoing on the BW Adolo. The compressor, which will support production from the six Tortue wells, is expected to commence its final commissioning phase in the next few weeks and, once fully operational, will add another 3,000 barrels per day. Duyuru • May 23
BW Energy Limited Announces the Appointment Ana Zambelli as Board Member BW Energy Limited at its held on May 22, 2023 announced a new board member, Ms. Ana Zambelli. Ms. Zambelli joins from her previous role as Managing Director of Brookfield Private Equity Inc, responsible for business operations in Brazil. She has more than 23 years of international experience in the oil and gas industry. Ms. Zambelli is currently a board member at Seadrill and the head of the Diversity Committee of the Brazilian Petroleum Institute (IBP). She also has been a board member of a wide range of companies within the energy sector including Petrobras and Braskem and in other industries. Her previous experience also includes senior executive roles within Maersk Drilling, Transocean and Schlumberger. Ms. Zambelli holds a Master of Science Degree from Heriot-Watt University in Scotland, a Bachelor of Science degree from the Federal University of Rio de Janeiro and post graduate certifications from Columbia University and MIT. Duyuru • Jan 09
Bw Energy Announces the Start of Drilling of the First Production Well on the Hibiscus / Ruche Phase 1 Development in the Dussafu Block Offshore Gabon BW Energy announced the start of drilling of the first production well on the Hibiscus /Ruche Phase 1 development in the Dussafu Block offshore Gabon. Drilling operations commenced on schedule in the first week of January and in line with the target of producing first oil in March 2023. The Borr Norve jackup arrived on location in late December and immediately started preparations for the drilling campaign. The first production well, DHIBM-3H, targets the Gamba sandstone reservoir on the Hibiscus field and is expected to take just over two months to drill and complete. Installation of flexible pipelines and risers, completing the 20-kilometer connection between the BW MaBoMo production facility and the FPSO BW Adolo, was also finalised last week. 
