BW Energy has in a consortium with Maurel & Prom signed an agreement to acquire a combined 20% non-operated interest in Block 14 and 10% in Block 14K offshore Angola from Azule Energy. Within this transaction, BW Energy's net share will be 10% in Block 14 and 5% in Block 14K, providing a strategic foothold in Angola aligned with the Company's long-term regional growth strategy. Block 14 is a mature deepwater asset comprising nine producing fields, while Block 14K is a tie-back to the main block.
The asset is operated by Chevron, and the licence currently runs to 2038. Gross production is approximately 40 kbopd, with net to BW Energy at 4 kbopd. Current producing reserves are estimated at 9.3 mmbbls net to BW Energy, with several identified opportunities to further increase recoverable volumes.bandonment and decommissioning costs are covered by existing provisions.
